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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 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
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.
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. 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
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
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.