Реформа на пенсионната система в България – какво се променя? (новата мултифондова система дава избор как да се инвестират парите за втора пенсия)
Pension Reform in Bulgaria: Key Transformations (the New Multi-Fund System and Strategic Investment Flexibility for Second-Pillar Assets)

Author(s): Mariana Georgieva
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Welfare systems, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: demographic crisis; multi-funds; sustainability; profitability; supervision
Summary/Abstract: The introduction of the multi-fund model aims to achieve higher returns and pension adequacy through the flexible management of individual accounts. The reform allows for investment in a wide range of instruments tailored to the age of the insured persons, with dynamic sub-funds targeted at younger individuals. The success of the model depends on linking fees to performance and establishing benchmarks for evaluation. Despite the higher risk, strict regulatory control and effective supervision remain key to protecting funds and maintaining trust in the system.

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