DRASTIC RISE IN NEW RETIREE NUMBERS
The frozen retirement age and work record and uncertainty on how rules may change from 1 January have forced many Bulgarians to retire hastily. The growth in retiree numbers however has far exceeded the forecasts of the National Social Security Institute and will result in bigger pensions spending this year. From January till September new old-age pensions have increased by 50% on the same period of 2013. A veritable boom is seen among the police and the military where new pensions grew by more than 71%, according to figures released by NSSI. The total of 75,400 Bulgarians have retired since the beginning of 2013 until September.
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