Retiring in 2026: the complete guide

Who qualifies for a pension in 2026

The right to a pension for length of service and age under Art. 68 of the Social Insurance Code requires two conditions at once: reaching the required age and accumulating the required service. In 2026 women retire at 62 years 6 months with 36 years 10 months of service; men at 64 years 9 months with 39 years 10 months.

Requirements rise each calendar year: service caps at 37 years for women and 40 for men in 2027, while the age equalises at 65 for men in 2029 and for women in 2037. The conditions of the year you file your application are the ones that apply.

If you are short of service

Those without the required service can retire at 67 with at least 15 years of actual insurance service (Art. 68(3)). "Actual" means time you genuinely worked and were insured — purchased service does not count towards those 15 years.

Another option is purchasing up to 5 years of missing service or university study periods — use the missing-service calculator to judge whether the investment pays off.

How the pension is calculated

The Art. 70 formula: the national average insurable income for the 12 months before granting is multiplied by your individual coefficient and by 1.35% for each year of service. The individual coefficient reflects the ratio of your income to the national average across your insured life after 1999.

Example: with a coefficient of 1.20 and 38 years of service, the pension is average income × 1.20 × 51.3%. If you contribute to a universal pension fund, the state portion is reduced proportionally but a second UPF pension is added on top.

Early and deferred retirement

With full service you may retire up to 12 months before the required age, at a permanent reduction of 0.4% per missing month (Art. 68a) — up to 4.8% for a full year. The reduction lasts for life, so weigh it against the benefit of earlier payments.

Conversely, each year worked after qualifying without drawing a pension increases the accrual per year of service — deferral is one of the most reliable ways to raise your pension.

Documents and applying

The application (form UP-1) is filed at the NOI territorial office for your permanent address — in person, via an authorised representative, by post, or electronically with a PIK code or e-signature. Attach documents proving insurance service (employment books, UP-2, UP-3) and gross pay for periods before 1999.

The pension is granted from the date you qualified if you apply within 2 months of it, otherwise from the application date. NOI must rule within 4 months.

Pensions are now paid in euro

Since 1 January 2026 Bulgaria is a euro-area member. All pensions are paid in euro, converted at the fixed rate of 1.95583 leva per euro. Conversion was automatic — pensioners did not need to take any action.