On November 3, 2026, the Bulgarian Finance Ministry announced that it does not intend to reform the country's second pension pillar, contrary to rumours circulating in media circles. The statement, released in Sofia, was aimed at counteracting misinformation that linked a prospective shift of pension contributions to the National Social Security Institute.
The ministry labelled the circulating information as “disinformation” and clarified that no decision has ever been taken to divert a portion of the second pillar’s contributions to the National Social Security Institute. Instead, it highlighted that the administration remains committed to stabilising public finances, citing an inherited large fiscal deficit and weakened fiscal discipline.
In a brief statement to the press, the ministry emphasized that it has no plans to divert funds and that any misinterpretations of the government's pension scheme were unfounded. It also reminded officials that the national budget is pending formal presentation, indicating that budget deliberations continue.
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, said Konstantin Prodanov, a Member of Parliament from Progress Bulgaria and chair of the parliamentary Budget and Finance Committee.
Prodanov spoke to reporters in Parliament, reinforcing the ministry’s stance and dismissing the rumours that pension contributions would be redirected. He reaffirmed that no such strategic shift exists within the current pension framework.
While the ministry denies the supposed reforms, it refrains from providing a detailed explanation of its pension policy adjustments beyond the stated fallacy. The focus appears to be on ensuring clarity and maintaining public confidence in the pension system.
The overall narrative surrounding the second pension pillar, which serves as a fundamental component of Bulgaria’s retirement security, remains unchanged. The ministry’s denial is part of a broader strategy to mitigate uncertainty about public finance measures amid scrutiny over the national deficit.
Even as the ministry pushes back against the rumors, unrelated discussions on pension reforms continue within parliamentary circles. Yet, these debates have not evolved into formal policy proposals, leaving the current stance of maintaining status quo affirmed by the finance ministry and key legislative figures.
