Retirement pensions in Bulgaria will be raised by 7 to 10% in 2013, Bulgarian Finance Minister Simeon Djankov stated on Tuesday.

“Currently, we are not discussing whether there would be an increase in retirement pensions, but how to do it,” Djankov said, as cited by local media.

He clarified that two options are being discussed – an increase of all pensions by an equal percentage or a progressive increase that would be more beneficial for those who receive smaller pensions.