Two economists told parliament that yanking back the 3 billion leva getting funneled into private pension funds every year would fix the budget mess without jacking up social security contributions. Lyubomir Hristov and Viktor Papazov pitched this at a Vazrazhdane debate, where the pension companies association totally ghosted them instead of defending their industry.
Hristov argued that grabbing back that 5% currently getting diverted to private accounts would pump fresh cash into the state system and kill the need for a two-percentage-point contribution hike. Papazov went harder and called the whole second pension pillar harmful to society, saying the companies bailed on the debate because they had zero arguments against claims that the system robs Bulgarian retirees.
Hristov argued that grabbing back that 5% currently getting diverted to private accounts would pump fresh cash into the state system and kill the need for a two-percentage-point contribution hike. Papazov went harder and called the whole second pension pillar harmful to society, saying the companies bailed on the debate because they had zero arguments against claims that the system robs Bulgarian retirees.
