In Sofia on 3 November 2026, Bulgaria’s Finance Ministry issued a statement denying that any reform of the country’s second pension pillar was underway. The ministry called the circulating information ‘disinformation’ and clarified that there are no plans, nor ever have been, to redirect contributions from the second pillar to the National Social Security Institute. The ministry said it remains focused on stabilising public finances amid an inherited excessive deficit and weakened fiscal discipline, and that a new budget will soon be presented.
Concurrently, Progressive Bulgaria MP Konstantin Prodanov, chair of the parliamentary Budget and Finance Committee, told reporters in Parliament that there had never been a plan to divert pension contributions. He repeated that the policy of redirecting the second‑pillar contributions to the National Social Security Institute is a rumor without basis.
"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 Prodanov.
The ministry’s statement comes amid ongoing discussions about Bulgaria’s public‑finance challenges. While no details were provided on future pension policy, officials made it clear that the current approach to the second pillar remains unchanged. No further policy documents or legislative proposals were released in the statement. The Finance Ministry said the draft budget for the coming fiscal year will be presented shortly, marking a key step in its effort to manage the country’s fiscal deficits.
The day’s denials came after rumors had circulated in social media and news outlets, prompting calls from several lawmakers for clarification. The Finance Ministry said the rumors are “misinformation” and stressed that all pension policies remain subject to parliamentary scrutiny. The ministry also noted that any reform would require formal legislative processes, which have not been initiated.
