The Payout Phase in Universal Pension Funds in Bulgaria Cover Image

Фазата на изплащане при универсалните пенсионни фондове в България
The Payout Phase in Universal Pension Funds in Bulgaria

Author(s): Stanislav Dimitrov
Subject(s): Economy, Public Finances
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: payout phase; supplementary pension funds
Summary/Abstract: With changes in the legislation from the beginning of 2021, a step was taken towards the completion of the regulation of the activity of supplementary pension insurance and in particular the settlement of pension payments by the Universal Pension Funds in Bulgaria. In the present study, an analysis of the regulation of the payout phase is performed. The analysis seeks answers to questions such as what will be the effects on savers and pension insurance companies of the adopted approach to regulating the order and manner of pension payments, what are the positive aspects and what are the gaps. One of the conclusions of the study is that the regulation of the payout phase is necessary, it is somewhat delayed, and some good practices could be adopted from countries with developed supplementary pension systems.