The economy is increasingly relying on retirees

Elderly people are increasingly becoming a valuable asset on the labour market, said Minister of Labour and Social Policy Biser Petkov in parliament today.

According to National Social Security Institute data, at the end of 2018 there were over 197,000 pensioners receiving retirement pensions who continue to work and pay social security contributions, Minister Petkov said. The increase in the employment rate among elderly persons has been a consistent trend since 2012.

According to the National Statistical Institute the employment rate among people aged 55 to 64 has gone up by 15 percent – from 45.7 percent in 2012 to 60.7 percent in 2018.

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