What is SVRP with occupational schemes?
This form of retirement provision has to be an element of a collective agreement (CA) or a collective labour agreement (CLA) whereby an employer together with its employees outline the terms and scope of provision, pension payment types and the pensionable contribution amount, according to the member allocation method specified by them. The criteria for differentiation are determined in compliance with the needs of each employer to attract, retain experts and stimulate employees' professional development.
Having stipulated the basic parameters of retirement provision which the sponsoring undertaking wishes to realize, the company performs all the necessary procedures for the scheme registration with the Financial Supervision Commission and for its management. For that purpose, the sponsoring undertaking concludes a retirement provision contract with the company, presenting the collective agreement, respectively a transcript of the CLA, with the terms of the occupational scheme and a list of the covered pension fund members.
Appendix no. 3b to Art. 13, para. 3 of Ordinance no. 3 of 24 September 2003 on the procedure and manner of switching participation and transferring the pension fund member account accumulation from one supplementary retirement provision fund to another fund of the same type managed by another pension company
Appendix no. 3 to Art. 5, para. 2 of FSC Ordinance no. 61 of 27 September 2018 regarding the requirements to the advertising and written information materials and webpages of pension companies
Announcements about the amendments and supplements to the Rules of operation and the investment policy are published in Trud and 24 Hours newspapers.
The announcement of the latest amendments to the Rules of operation of Allianz Bulgaria Voluntary Pension Fund with Occupational Schemes, approved by Decision No. 223 – ДПФ ПС / 29.03.2022 of the Financial Supervision Commission, was published on 31.03.2022 in Trud and 24 Hours newspapers.