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  January 27, 2015 

Rodina Sydney - the Bulgarian Community and Culture Association

The Bulgarian Community in Sydney

The Bulgarian Community and Culture Association "Rodina" is the focal point for Bulgarians and the Bulgarian culture in Sydney and New South Wales.  We organise regular BBQs, dances and social events as well as support the Bulgarian School in Sydney.  Our community includes people with Bulgarian heritage, partners of Bulgarians and people interested in the Bulgarian Culture.  As part of Multi-Cultural Australia we aim to contribute and enrich its diverse culture.  We also provide orientation and help for Bulgarians newly arrived in Sydney and New South Wales.

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Bulgarian News

Consultations on Bulgaria's Pension Reform Continue
Tuesday, 27th January 2015

The second round of consultations on the parameters of Bulgaria's pension reform will take place on Tuesday.

Several new ideas emerged after the initiation of the consultations a week ago, electronic daily Dnevnik reports.

The proposal of the Ministry of Labour and Social Policy, which was presented during the first round of consultations, provides for a gradual increase in the age and work experience required for retirement.

The proposal foresees the social insurance contributions to increase with a total of 4.5 % over the next 12 years.

Bulgaria's Deputy Prime Minister and Minister of Labour and Socialy Policy Ivaylo Kalfin calculated that this increase will amount to BGN 3 a month.

Meanwhile, the Finance Ministry published a proposal reversing the controversial amendments to pension insurance, which had been adopted at the end of 2014.

The proposal provides insured persons with the right to transfer their contributions back and forth between the private pension funds and the State Social Insurance Institute (NOI) once a year.

The oppositional Bulgarian Socialist Party (BSP) presented its own proposal for a reform to the sector on Sunday, which centers on freezing the age and work experience required for retirement.



Finance Ministry Reverses Controversial Changes to Pension Insurance
Saturday, 24th January 2015

Bulgaria's Finance Ministry reversed its decision regarding the social insurance contributions of newly insured persons.

According to amendments that were hastily adopted at the end of 2014, those entering the labour market for the first time were provided with a period of one year to decide whether to contribute to a private pension fund or the solidarity fund of the National Social Security Institute (NOI).

The controversial changes were resisted by representatives of the private pension funds, the employers' organisations and the junior coalition partners from the Reformist Bloc (RB).

Hundreds of citizens submitted complaints to the Ombudsman, electronic daily Dnevnik reports.

The Finance Ministry published on its website on Friday proposals for new amendments to the Social Insurance Code, which foresee the reversal of its earlier decision.

According to the proposed changes, those entering the labour market for the first time will have a period of three months during which to choose a private pension fund.

In case the person fails to choose one, the allocation will happen automatically, which was the case before 31 December 2014.

This proposal coincides with the ideas suggested by MPs from the RB.

The draft texts also foresee that people insured in universal pension funds will have the right to transfer their contributions back and forth between NOI and the private funds, but no more than once a year.

The last such switch can be made five years before retirement.

These provisions are much more acceptable than the changes adopted in December, which established that the Council of Ministers is to define the rules for the transfer between funds.

The contributions for a second pension, which are transferred from a private fund to NOI, will go to the Silver Fund.

The contributions are to be stored in the Silver Fund until the retirement of the individual or until the person decides to transfer them back to a private fund.

This will guarantee that individual contributions will be preserved intact in the Silver Fund.



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About Us

The Bulgarian Cultural and Social Association "Rodina" promotes Bulgarian culture, traditions and language among the Bulgarian community in NSW.  For over 30 years we have been fostering knowledge and understanding about the Bulgarian culture and history by organising social events, forums, exhibitions, performances and other public initiatives.  We seek to strengthen the social, economic, educational and cultural ties between Australia and Bulgaria.  Therefore, maintaining a close relationship with Australian organisations and institutions in Australia is of significant importance to us.  As part of Multi-Cultural Australia we aim to contribute and enrich its diverse culture.  Rodina collaborates and co-operates with other Bulgarian and cultural organisations in Australia.