Bulgaria's social insurance income rises to EUR 312 in March.

By bne IntelliNews May 17, 2012
The average social insurance income in Bulgaria reached BGN 610.36 (EUR 312.1) in March, up from BGN 595.51 in Feb and BGN 601.8 in Jan, the social security institute announced. For the twelve-month period ending Mar 2012, the average social insurance income climbed to BGN 599.36, up from BGN 597.63 a month earlier. The average social insurance income acts as a reference for the calculation of pensions. The annual rise in the average social insurance income may indicate improving employers' reporting, whereas employees are being paid social security based on a higher income. This improves social security revenue to the budget and decreases the grey economy.

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