Adequate and Sustainable Pensions – Alternative Model of the Pension System in Bulgaria
Adequate and Sustainable Pensions – Alternative Model of the Pension System in Bulgaria

Author(s): Stanislav Dimitrov
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Business Economy / Management, Civil Society, Sociology, Economic policy, Welfare systems, Social development, Policy, planning, forecast and speculation, Welfare services, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: adequate pensions; sustainable pensions; pension model
Summary/Abstract: The ageing population in Bulgaria, the decrease in the relative share of the working population, the growing costs for pensions and the increasing deficit in the Pension Fund of the State Social Insurance pose significant challenges to the development of the pension system in the country. Addressing these challenges can be done through different solutions. The article examines what parameters in the current pension system in Bulgaria can be changed in a way to achieve adequate and sustainable pensions. The research seeks answers to questions like how to achieve a balance between adequacy and sustainability, what are the possible measures to reduce the negative effects, what measures will improve the pension system. The analysis concludes that it is necessary to formulate a Pension Action Plan, which contains a system of measures to improve and develop the pension system in Bulgaria. Among these measures are the formulation of shortterm, mid-term and long-term goals, policies, deriving metrics for follow-up, adoption of good practices by European Union member states and others.

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