Bulgaria’s Finance Ministry said on Tuesday that rumours it would change the second pension pillar are false, naming the rumours “disinformation.” The statement came after media reports that contributions would be redirected to the National Social Security Institute.
In a formal press release, the ministry said it “has never had any plans” to alter the status of the second pillar and that the papers falsely claimed a shift of payroll contributions into the NSSI. The ministry added it is focusing on stabilising the country’s public finances amid an “inherited excessive deficit and weakened fiscal discipline.”
Finance Ministry officials said:
There are no plans, nor have there ever been plans, to redirect part of the contribution to the second pension pillar to the National Social Security Institute.
Democratic party MP and chair of Parliament’s Budget and Finance Committee, Konstantin Prodanov, echoed the ministry’s stance in a parliamentary session. He told reporters that no such reform exists or has ever existed, indicating the story was simply a rumor.
The ministry’s claim comes as Bulgaria’s 2027 budget is due to be presented this winter, with officials noting that attention is needed to balance the nation’s finances first. The second pension pillar, which is a private, employer‑based scheme, remains unchanged for now.
Observers say the clarification is meant to allay fears about pension insecurity among workers, especially as public funds struggle to keep up with rising debt. The Ministry will remain on guard against further speculation until the budget is official.
Until the official budget is unveiled, the financial climate remains uncertain, and any shift in pension contributions could affect both employers and employees. With a large deficit, the government stresses keeping the second pillar stable to avoid strain on the country’s overall pension system.
