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Bozhanov shows Donev's letter to European Commission on pension money from second pillar

07.11.2026

On the "Panorama" programme, Bozhanov read out a letter from Donev to the European Commission. It asks to move part of the contributions to the second pension pillar into the first pillar temporarily, in 2027–2029.

Колаж: Снимка от Dbalinov, Wikimedia Commons, под лиценз CC BY 2.5 bg • Снимка от Dbalinov, Wikimedia Commons, под лиценз CC BY 2.5 bg

"Yes, Bulgaria" co-chair Bozhidar Bozhanov has shown a letter from finance minister Galab Donev to the European Commission proposing that part of the contribution to the second pension pillar go to the first pillar for a time. The two men argued last night on BNT's "Panorama" over whether the cabinet wanted to redirect the money.

Bozhanov read the letter out in the studio. It is dated 2 November and covers 2027–2029. The talk began with the budget for next year that the cabinet has submitted, which has drawn political and public reactions.

How it all started: Kanev asks European Commission if Radev government offered to send second-pillar contributions to National Social Security Institute

The issue became public on Tuesday, when the opposition claimed the government was preparing a partial nationalisation of the second pillar to cover the budget deficit. Konstantin Prodanov, chair of the budget committee, said he had not heard of such a plan.

Bozhanov said the ruling parties had called the claim fake news and said nothing like it had been discussed. He said the letter is dated the day before he announced that the cabinet was preparing the step, after which the ruling parties dropped it.

"So all the claims that this was invention and fake news were one lie," Bozhanov told BNT.

He accused Donev and the prime minister of constantly making excuses by blaming the opposition, calling it hysterical and a source of fake news. He asked the minister whether he wrote the letter or would disown it too, and called on Donev to apologise to Bulgarians. Bozhanov said the lie is obvious and that Bulgarians can tell truth from invention and good from evil.

Donev refused. "Whenever there is something to apologise for, I will apologise, but for something that was not done, there is nothing to apologise for," the deputy prime minister told BNT.

He said the letter contains comments from the period of talks with the European Commission. He said the cabinet also discussed other measures with the pension companies, for example letting people use part of the money in their personal accounts under certain conditions.

The minister denied that the cabinet dropped the plan because of Bozhanov's statement. He said the reason is the dialogue with the pension companies, with whom the government follows a quite different policy. Donev also rejected the claim that the government is looking for money to fill a huge hole in the state finances, and said this cannot be a motive. He added that Bulgarians have always been able to tell good from evil and truth from lies.

Donev said the talks with the companies ended in an agreement: they will take part in state infrastructure projects through a new investment fund.

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