Bulgaria : Ensuring Pension System Sustainability

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dc.creatorWorld Bank
dc.date2013-02-27T19:49:30Z
dc.date2013-02-27T19:49:30Z
dc.date2009-09
dc.date.accessioned2026-07-01T01:13:57Z
dc.descriptionThe report, Bulgaria: Ensuring Pension System Sustainability Pension Reform Policy Note was written in September 2009. The report states that the Bulgarian pension system has undergone significant and well designed reform in 2000-2003. However, attempts to restore financial self-sustainability of the pension scheme were not as successful as envisaged. Projections presented in this note suggest that recently introduced government contributions are insufficient to achieve financial sustainability and introduce growing distortions into the financing system. Additional reforms to the system will be needed to meet these challenges. Among the suggested reforms are; ensuring automatic sustainable pension indexation mechanism free of ad hoc interventions; attempting to further increase effective retirement age by reviewing early retirement rules and eliminating gender differences in retirement ages. A continued slow increase of retirement ages for both genders should also be considered; further strengthen disability certification processes to respond to likely increase in disability claims due to the economic downturn; strengthen long term financial planning, including revision of contribution rates which would be more compatible with long-term fiscal sustainability, and consider an exit strategy for formalized Government contribution to the scheme.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2009/09/16280976/bulgaria-ensuring-pension-system-sustainability
dc.identifierhttps://hdl.handle.net/10986/12543
dc.identifierhttps://doi.org/10.1596/12543
dc.identifier.urihttp://hdl.handle.net/123456789/416326
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGE DISTRIBUTION
dc.subjectBABIES
dc.subjectBABY
dc.subjectBABY BOOM
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBENEFIT FORMULA
dc.subjectBENEFIT FORMULAS
dc.subjectBENEFIT LEVEL
dc.subjectBENEFIT LEVELS
dc.subjectBOOM GENERATION
dc.subjectCERTIFICATION PROCESSES
dc.subjectCHILDBEARING
dc.subjectCHILDBEARING AGES
dc.subjectCONTRIBUTION PERIODS
dc.subjectCONTRIBUTION RATES
dc.subjectDEFICITS
dc.subjectDEMOGRAPHIC
dc.subjectDEMOGRAPHIC PROJECTIONS
dc.subjectDEMOGRAPHIC TRENDS
dc.subjectDEPENDANTS
dc.subjectDISABILITY
dc.subjectDISABILITY PENSION
dc.subjectDISABILITY PENSIONS
dc.subjectDISABILITY RETIREMENT
dc.subjectEARLY RETIREMENT PENSIONS
dc.subjectEARLY RETIREMENT PROGRAMS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC DOWNTURN
dc.subjectELDERLY
dc.subjectELDERLY PEOPLE
dc.subjectFERTILITY
dc.subjectFERTILITY RATES
dc.subjectFINANCES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL SAVINGS
dc.subjectFINANCIAL SUSTAINABILITY
dc.subjectFISCAL DISCIPLINE
dc.subjectFUTURE PENSION
dc.subjectGENDER
dc.subjectGENDER DIFFERENCE
dc.subjectGENDER DIFFERENCES
dc.subjectGENDERS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGOVERNMENT SUPPORT
dc.subjectGROWTH RATES
dc.subjectINCENTIVE STRUCTURE
dc.subjectINCOME
dc.subjectINSURANCE SCHEMES
dc.subjectINVESTMENT INCOME
dc.subjectLABOR FORCE
dc.subjectLABOR MARKETS
dc.subjectLIFE EXPECTANCY
dc.subjectMATERNITY LEAVE
dc.subjectMORTALITY
dc.subjectNUMBER OF PEOPLE
dc.subjectNUMBER OF WOMEN
dc.subjectOLD AGE
dc.subjectPENSION
dc.subjectPENSION BENEFITS
dc.subjectPENSION CONTRIBUTION
dc.subjectPENSION COVERAGE
dc.subjectPENSION INSURANCE
dc.subjectPENSION REFORM
dc.subjectPENSION REFORMS
dc.subjectPENSION RIGHT
dc.subjectPENSION RIGHTS
dc.subjectPENSION SCHEME
dc.subjectPENSION SPENDING
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONER
dc.subjectPENSIONERS
dc.subjectPOLICY CHANGE
dc.subjectREPLACEMENT RATES
dc.subjectRETIREES
dc.subjectRETIREMENT
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT AGES
dc.subjectRETIREMENT BEHAVIORS
dc.subjectRETIREMENT ELIGIBILITY
dc.subjectSAVINGS
dc.subjectSCARCE RESOURCES
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL SECURITY
dc.subjectSPILLOVER
dc.subjectTAX
dc.subjectTAX EXEMPTION
dc.subjectUNEMPLOYMENT
dc.subjectVALUATION
dc.subjectWAGE GROWTH
dc.subjectWAR
dc.subjectWILL
dc.subjectYOUNG PEOPLE
dc.titleBulgaria : Ensuring Pension System Sustainability

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