Balgarianovinite.com The National Assembly on Friday approved at first reading amendments to the Social Insurance Code tabled by the Council of Ministers introducing a multi-fund model in supplementary pension insurance.
The amendments were supported by 103 MPs from GERB-UDF, Continue the Change – Democratic Bulgaria, Movement for Rights and Freedoms – New Beginning, Alliance for Rights and Freedoms. 37 from Vazrazhdane, the Bulgarian Socialist Party – United Left and Velichie voted against and seven abstained – one from There Is Such a People and six from MECh.
The deadline for proposals between the two readings will be three days, parliament decided. Thus, the amendments will enter into force on January 1, 2027, parliamentary Committee on Labour and Social Policy Chair and GERB-UDF Deputy Floor Leader Denitsa Sacheva said.
The introduction of a multi-fund model in supplementary pension insurance will allow insured persons to choose how their pension savings are managed, taking into account “the varying risk tolerance of different categories of individuals at different stages of their life cycle”, the government says.
Within the pension fund, pension insurance companies will create sub-funds with different investment profiles – dynamic, balanced, and conservative – tailored to the life cycle of the insured persons, who will be able to choose a way in which their retirement savings are managed, taking account of the different risk tolerance. Those who choose to follow the life cycle approach, as well as those who are automatically allocated, will be transferred, according to their age: to a dynamic sub-fund if they are up to 50 years old; upon reaching the age of 50, they will be transferred to a balanced sub-fund with a lower risk profile; and as they approach retirement age (3 years before), they will be transferred to a conservative fund, which has the lowest risk and aims to preserve the accumulated funds.
The introduction of new types of eligible investments for pension insurance companies has been proposed in connection with the introduction of a multi-fund model, with the corresponding investment restrictions, as well as an increase in the capital requirements and staffing levels of those companies.
Deputy Finance Minister Kiril Ananiev explained that prior to the submission of the bill, a comprehensive review of the supplementary pension insurance model had been carried out. Insured persons are given the opportunity to choose how their pension savings are managed, taking into account their life cycle, he added. Parliament Approves Introduction of Multi-fund Model in Supplementary Pension Insurance at First Reading 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-02-13 16:17:48 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law