08.01.2024

WHAT CHANGES TO INSURANCE, INCOME AND BENEFITS COME INTO FORCE FROM 2024

The new year started with a number of important changes for workers. From January 2024, the minimum wage becomes BGN 933. The new amount was determined by a decision of the Council of Ministers in October.

It was established according to the provisions of the Labor Code, according to which the minimum wage for the country is set at 50 percent of the average gross wage for the last two quarters of the previous year and the first two quarters of the current year. The new amount of the minimum wage will increase the income of over 500,000 workers, Social Minister Ivanka Shalapatova announced a few days ago.

The minimum insurance income for self-insured persons becomes BGN 933, and the maximum - BGN 3,750.

In the new year, the minimum daily unemployment benefit remains at BGN 18, and the maximum increases to BGN 107.14. This was resolved with the adoption of the second reading of the State Social Insurance Bill for 2024. It was also decided that the insurer would pay the insured person for the first two working days (instead of the previous three) of the temporary incapacity for work. After the third day of incapacity for work, payment is made by the state social insurance.

The poverty line in the country is also rising - from BGN 504 to BGN 526. About 800,000 Bulgarians from vulnerable groups are expected to receive financial support in a higher amount in 2024 as a result of the increase in the poverty line. Since last year, social benefits are already determined depending on the poverty line.

From July 1, 2024, all pensions granted until the end of 2023 will be upgraded by 11 percent according to the so-called swiss rule The minimum amount of the pension for length of service and age will be BGN 580.57. The maximum amount of one or more pensions received without supplements remains BGN 3,400.

The average pension will reach BGN 833, Social Minister Ivanka Shalapatova also said. It is planned that from July 1, 2024, the supplement from the deceased spouse's pension (the so-called widow's supplement) will increase to 30% of the pension or the sum of the pensions that the deceased spouse received.

The one-time allowance for the birth of a child in 2024 will be BGN 375 for the first child, BGN 900 for the second, BGN 450 for the third, BGN 300 for the fourth and each subsequent child.

The monthly allowances for a child up to the completion of secondary education, but no more than 20 years of age, remain as follows: for a family with one child – BGN 50; with two children – BGN 110; with three children – BGN 165; with four children – BGN 175, and for each additional child in the family, the family allowance increases by BGN 20. The amount of monetary compensation for raising a child up to the age of 2 and for raising a child up to the age of 8 by the father (the adoptive parent), which remains BGN 780, is retained. From this year, the income criterion for receiving the aid will be changed. Families with an income of BGN 710 per family member will receive the full amount of the aid. Families with an income of BGN 710.01 to BGN 810 per family member will receive 80 percent of the full amount of assistance.

The amount of the monthly allowance for raising a child with a disability is as follows: for a child with a certain 90% and above 90% type and degree of disability or degree of permanently reduced working capacity – BGN 1,180; for a child with a certain 70 to 90% type and degree of disability or degree of permanently reduced working capacity - BGN 570; for a child with a certain 50 to 70% type and degree of disability or degree of permanently reduced working capacity – BGN 450.

The amount of the one-time aid for students in the 8th grade for the academic year 2024-2025 is BGN 300, the parliament recorded in the state budget for the next year. Children in the first, second, third and fourth grades will also receive BGN 300 each.