Individual retirement provision contract and individual account
Retirement provision is implemented on the basis of a contract between a pension fund member and a licensed pension company. Contributions are accumulated in an individual member account.

Pensionable contributions
Pensionable contributions at the expense of a pension fund member can be made monthly, quarterly, semi-annually or annually. It is also possible for members to make a lump-sum contribution.

Bank account for voluntary retirement provision contribution payment:

Holder: Allianz Bulgaria VPF

IBAN: BG20STSA93000004099823

In order to facilitate pension fund members' identification, at least two of the following should be written in the remittance reason:

• retirement provision contract number;
• full name of the person whom a pensionable contribution is paid for;
• PIN of the person whom contributions relate to.

According to the Personal Income Tax Act, the monthly tax base for employment income is reduced by the personal contributions made during the month through an employer for supplementary voluntary retirement provision at the total amount of up to 10 percent of the monthly tax base. The amount of the annual tax bases is reduced by the personal contributions made during the year for supplementary voluntary retirement provision at the total amount of up to 10 percent of the annual tax bases.

The company provides a supplementary pension, one-time and deferred payment of the accumulated funds, namely:

1. In case of old age:
1.1. Upon acquisition of the right to a retirement pension under the procedure of Part One of SSC;
1.2. At the request of a pension fund member, the fund may pay a personal old-age pension upon reaching the age for the acquisition of the right to a retirement pension under Art. 68, para. 1 of the CCS or up to 5 /five/ years before reaching that age;
2. In case of disability: at 50 /fifty/ and over 50 /fifty/ per cent of pension fund member's permenant labour capacity decrease.

Beneficiaries / heirs at law acquire the right to a survivor’s pension, one-time / deferred payment of the accumulated funds / the balance on the individual account upon pension fund member's / retiree's death.

The company offers:
1. Old-age pension scheme
a/. Pension scheme with a personal lifelong old-age pension
b/. Pension scheme with a personal term old-age pension
c/. Pension scheme with a one-time/deferred payment upon acquisition of the right to a personal old-age pension

2. Disability pension scheme
a/. Pension scheme with a personal lifelong disability pension
b/. Pension scheme with a personal term disability pension
c/. Pension scheme with a one-time / deferred payment upon acquisition of the right to a personal disability pension

3. Servivor pension scheme
a/. Pension scheme granting a survivor term pension to a specified beneficiary/heir at law
b/. Pension scheme with a one-time/deferred payment

 

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 supplimentary retirement provision fund to another fund of the same type managed by another pension company.

Information about the basic characteristics of a voluntary pension fund and participation therein upon retirement provision with personal contributions to Allianz Bulgaria VPF.

Appendix no. 1 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

Information about the basic characteristics of a voluntary pension fund and participation therein upon retirement provision with Allianz Bulgaria VPF at the expense of sponsoring undertakings and other contributors under Art. 230, para. 3, item 2-4 of SSC

Appendix no. 2 to Art. 5, para. 2 of FSC Ordinance no. 61 of 27 September 2018 regarding the requirements to the advertising and written materials and webpages of pension companies

Announcements about the amendments and supplements to the Rules of oparation 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, approved by Decision No. 878 – ДПФ / 16.07.2019 of the Financial Supervision Commission, was published on 22.07.2019 in Trud and 24 Hours newspapers.