Bulgaria takes the 5th place for the best country for retirement in Europe. Our country has the lowest housing prices and cost of living. Being in the 4th place in terms of the number of elderly population. This is according to a study by www.movingtospain.com.
Portugal is in first place. Spain ranks second, followed by Italy. The study considered life expectancy, cost of living, housing prices, over-65 population, safety, visa availability, beach quality and healthcare as determining factors.
According to former social minister Ivaylo Kalfin, this ranking cannot be valid if the pension is paid by Bulgaria. "If a foreign country pays it, a pensioner can live comfortably in our country. Pensioners in our country receive minimum wages because of low insurance, this requires significant support from the state, pensions are paid by the National Insurance Institute. In Ireland, everyone receives a minimum pension, and from then on as everyone was insured in private funds. In Europe, low pensions ensure a modest lifestyle, but it is not the amount that matters, but what it is spent on. In developed countries, even if pensions are low, public services are at a higher level, they help seniors live a normal life and not spend their pensions on it," he explained. And he added that it is possible for a person to receive 70% of his last salary upon retirement.
The economic advisor at BIA, Shteryo Nozharov, believes that our economy is catching up with European levels. "Pensions and income are functions of economic growth. The Anglo-Saxon model of pensions is financed by taxes, and companies consider whether to pay supplements. For Bulgaria, a problem is that pensions weigh more and more on the budget. The share of low pensions in the pension fund is decreasing. 60 % of pensioners receive a minimum pension," he said.
According to him, pensions are a function of the quality of education. "Quality jobs are high-tech, in order to have them, we must have a good education. Our pension system is deformed, it must be reformed. The three pillars must be seen to function, they are on a different principle. The first works on solidarity, the others two are capital. The "Pensions" fund cannot be self-supporting. The transfer from the state budget with accumulations will be 60% next year," stressed the economist.
