New pensioners to include earnings for three most favourable years before 1997 in pension calculation19 April 2019 | 10:12 | FOCUS News Agency
The bill was tabled by GERB Group. According to the current legislation, the insurable earnings used for pension calculation do not include a period of three consecutive years chosen by the person of the last 15 years of service before 1 January 1997, as well as the insurable earnings in the period from 1 January 1997 to 31 December 1999. The amendments allow a person applying for a pension after 31 December 2018 to choose that their pension is calculated by an individual coefficient with the old formula. This means that they will be able to include income for the three most favourable years before 1997 and all income from 1 January 1997 until their retirement. Until 1 January 2023, people will be able to choose which method to apply when they retire.
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