Secure your future

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. 311 – ДПФ / 14.05.2024 of the Financial Supervision Commission, was published on 20.05.2024 in Trud and 24 Hours newspapers.

Allianz Bulgaria Pension Company collects the following fees and charges:

One-time entry fee for opening an individual account:
- For retirement provision with personal contributions and contributions from another provider - 9 leva / 4.60 euro.
- For retirement provision with contributions from the employer, the fee depends on the number of members insured under the respective contract and is determined as follows:
a. When up to 99 members are under the contract - 9 leva / 4.60 euro.
b. When 100 to 499 mmbers are under the contract - 7 leva / 3.58 euro.
c. When 500 to 1999 members are under the contract - 5 leva / 2.56 euro.
d. When 2000 or more members are under the contract - 4 leva / 2.05 euro

Deduction from each contribution:
- For retirement provision with personal contributions and contributions from other contributor, the deduction depends on the size of the contribution and is determined as follows:
    a. For a contribution up to 100 leva / 51.13 euro - 4.50 %.
    b. For a contribution from 100 leva / 51.13 euro inclusive to 500 leva / 255.65 euro - 4.25 %.
    c. For a contribution from 500 leva / 255.65 euro inclusive to 10,000 leva / 5,112.92 euro - 4.00 %.
    d. For a contribution from 10,000 leva / 5,112.92 euro inclusive to 20,000 leva / 10,225.84 euro - 3.50 %.
    e. For a contribution from 20,000 leva / 10,225.84 euro inclusive, as well as for a larger contribution - 3.00%.
- For retirement provision with contributions from the employer, the deduction depends on the size of the contribution and is determined as follows:
    a. For a monthly contribution up to 40 leva / 20.45 euro per member - 4.50 %.
    b. For a monthly contribution from 40 leva / 20.45 euro inclusive to 100 leva / 51.13 euro per member - 4.00 %.
    c. For a monthly contribution from 100 leva / 51.13 euro inclusive, as well as     for a larger contribution per member - 3.75%.

When the total size of the monthly retirement provision contribution under a contract with the employer is 40,000 leva / 20,451.68 euro and more, the deduction is determined according to the number of members insured under the respective contract as follows:
    a. For 500 or more members - 3.20 %.
    b. For 1000 or more members - 1.85 %.
    c. For 1500 or more members - 1.70 %.
    d. For a contribution with a frequency different from one month, the size of the deduction is determined by recalculating the     contributions monthly, depending on the period to which it relates.

The deduction as a percentage of each retirement provision contribution is collected at 50% (fifty percent) of the above-determined sizes in cases of concluding retirement provision contracts at the initiative of the members and after direct contact with the Company through any of the generally accepted ways of business communication.

Investment fee from the income generated by investing the funds - 10%.

Fee for full or partial withdrawal of funds from the individual account before acquiring the right to a pension for old age or disability - 10 percent of the withdrawn amount, but not more than 20 leva / 10.23 euro.

Fee for providing an extract from the individual account more than once a year - 0 leva / 0 euro.