Some 1.2 million Bulgarians born after 1959 and must be insured for a second pension, sais the statistics provided by the universal pension funds, but their accounts appear to have been frozen. According to the latest statistics on the activity of the supplementary pension insurance in 2012 of the Financial Supervision Commission the number of compulsorily insured is just over 3.2 million people. NSSI data, however, show that on the labour market those born since 1960 are just over 2 million. This means that more than 1.2 million Bulgarians, or every third one is reflected in the statistics of the funds, but only because at some time they had an account there.
FSC’s data show that the oldest contributors, which should have been paid to the funds throughout their 10 years of history, have lots to an average of about 1,800 levs. (The average accumulated funds per account as a whole is about 1,380 levs.)
At the introduction of so-called. three-pillar pension model in country endash the solidarity pillar, compulsory and voluntary insurance all estimates were made under the assumption that people will pay for at least 40 continuous years, into their accounts.
We asked FSC and pension insurance companies what causes this difference. They explained that the case concerns some people who were once registered as insured for a second pension, but then for some reason after that they stopped working. A prime example were students who during the summer months earned something but then decided to just go back to their textbooks. The most common examples, however, are unemployed people. For the duration of their unemployment periods they donrquote t have to contribute.
Workers abroad are the mysterious group. Their number is difficult to calculate. Bulgaria has agreements for the transfer of pension rights to all EU countries and some non-member states, but the total mess with the insurance becomes clear only when it is time for retirement.
In the black and grey sectors they do not traditionally pay contributions, experts from private pension funds said.
The BANKER
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