Benefits

  • You accumulate funds for supplementary pensions in individual accounts with the funds

  • You work with a reliable partner that manages your funds prudently and ensures you receive high-quality service

  • Choose a sub-fund according to your preferences When joining or transferring to a Universal Pension Fund (UPF), you can choose an investment strategy through a dynamic, balanced or conservative sub-fund, or be allocated to a sub-fund based on your age.

 

 

  • Contributions to these funds are paid partially or entirely by your employer/insurer, while the funds credited to your individual accounts remain your property

  • Online access to your individual account Keep track of your accumulated funds at any time in “My Pension” in Bulbank Mobile – current value, transactions and investment returns

  • Fully digital enrolment and transfer Easy, quick and convenient through the “My Pension” section in Bulbank Mobile, without having to visit a branch

Features

 

How does Supplementary Compulsory Pension Insurance work?

Through the contributions for Supplementary Compulsory Pension Insurance (SCPI) collected together with the contributions to the State Social Insurance (SSI) the insured persons accumulate money for additional pension funds.

In those funds the money is accumulated in individual accounts of each insured person.

Type of SCPI funds

  • Universal (UPF) - accumulate funds for payment of additional lifetime pension, independent of pensions paid by the SSI
  • Professional (PPF) - ensure early retirement of those working under first and second labor category. Contributions in the PPF are fully paid by the employers

Choice of SCPI fund

  • Initial – within three months after the beginning of mandatory insurance, i.e. when the insured person first started working (including first and second labor category).
  • Change of fund – upon expiry of the statutory period, the SCPI fund can be changed at the request of the insured person. All funds accumulated in his/her account, as well as all future contributions, are transferred to the new selected pension fund.

Multi-Fund Model in Universal Pension Funds (UPFs)


The multi-fund model is a new approach to managing assets in Universal Pension Funds (UPFs), whereby, instead of a single fund for all insured persons, three sub-funds are established with different risk profiles and return potential – dynamic, balanced and conservative. This allows insured persons to choose an investment strategy that reflects their age, investment horizon and risk tolerance. If no choice is made, the funds are automatically allocated to a sub-fund based on the client’s age.
When joining or transferring to a UPF, you can choose your preferred investment strategy through:
 

Dynamic Sub-Fund

for clients with a longer-term investment horizon and higher risk tolerance.

Balanced Sub-Fund

combines return potential with a moderate level of risk.

Conservative Sub-Fund

focused on preserving funds and reducing investment volatility.

Age-Based Sub-Fund

the distribution is carried out according to the rules of the multi-fund model and the applicable regulations.

To assist you in the process, you may receive a proposal for an investment strategy based on the information you provide, with the final choice remaining entirely yours.


Changing the Fund


Once the statutory period has elapsed, you may change your chosen pension fund. The funds accumulated in your individual account and future pension insurance contributions will be transferred to the newly selected fund in accordance with the applicable legislation.
 

Questions and Answers

All persons born after 31 December 1959 who are employed under an employment contract or are self-insured are subject to mandatory insurance in a UPF. Contributions are automatically deducted by the employer or paid by self-insured persons as a percentage of their insurable income.

Funds from a UPF can be received upon reaching retirement age or, under certain conditions, before reaching retirement age, as provided for by law.

Yes, funds held in a UPF are inheritable. In the event of the insured person's death, the amount accumulated in their individual account is paid to their heirs in accordance with the applicable legal provisions.

Yes. When joining or transferring to a UPF, you can choose between different sub-funds according to your preferred investment strategy. If you answer the subfund selection questionnaire, you may receive a proposal for an investment strategy.

Yes. If you meet the statutory requirements for a transfer, you can submit an application to transfer to the Allianz UPF directly through Bulbank Mobile.

No. The entire process of applying, signing and submitting the documents is completed digitally through Bulbank Mobile.

Clients can choose a dynamic, balanced or conservative sub-fund, as well as the option of automatic age-based allocation.

No. If the client does not make a choice, they will be automatically allocated to a sub-fund based on their age.

After 12 months have elapsed since their last choice or automatic allocation.

No. Transfers between sub-funds are carried out automatically.

No. The client can fill out the questionnaire if they wish.

Yes. The questionnaire is informative in nature and provides a proposal for an investment strategy based on the information you provide. The final choice of sub-fund is made by the client and may differ from the recommendation provided.

No. Investment returns are not guaranteed in any of the sub-funds.

Yes. According to applicable law, the gross amount of pension insurance contributions paid into the insured person's individual account is guaranteed. 

Allianz Bulgaria Pension Insurance Company

 

Why do we recommend choosing Allianz Bulgaria pension funds?


Allianz Bulgaria is part of Allianz SE – a global financial services company serving 78 million clients in more than 70 countries.


Allianz Bulgaria is part of the international Allianz group and has many years of experience in pension insurance.
 

Security and Investment Performance


The investment policy of Allianz Bulgaria Pension Insurance Company is aimed at maintaining a balanced investment portfolio. Assets are invested with a high degree of diversification, with government or government-guaranteed fixed-income securities accounting for the predominant share. Pension fund investments are strategically structured with a long-term investment horizon.
 

Fully Digital Process in Bulbank Mobile

  1. Go to the “My Pension” section in Bulbank Mobile.
  2. Select the option to join or transfer to the Allianz Universal Pension Fund.
  3. Review the information about the sub-funds and choose your preferred investment strategy.
  4. Find out which investment strategy proposal corresponds to the information you provided in the questionnaire.
  5. Sign and submit your application directly through the mobile app.