Grey economy in Bulgaria has a negative influence on pensions, head of Economic and Social Council (ESC) Lalko Doulevski said.

 Every earned lev out of three in Bulgaria has been unofficially paid, Doulevski said as quoted by Focus news agency.

High per cent of unregistered income leads to disloyal competition and lowers the sources of pension funds.

The retirement age should correspond to the average life expectancy in Bulgaria, Doulevski said. Bulgaria should not compare itself to the European Union countries' retirement age since their average life expectancy differs from that of Bulgaria.

Among the main priorities of Bulgaria is to establish a flexible pension system for people over 55, Doulevski said.

Bulgarian women live from six to seven years more than men and their pension is nearly 30 per cent lower than that of men.