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In 2021, companies must provide at least BGN 45 per month or pay the money all at once
Only some of the deceased pensioners will inherit the money
The universal pension funds will pay three types of pensions starting next year. This is provided by changes to the Social Security Code, approved by the government on the last business day of 2020.
The payment of the so-called The second pension for 17,000 women should start in the autumn of 2021. If the legal changes are not approved urgently by the parliament, the private pension funds will be entitled to pay only one type of pension: for life , although most of the first women with a second pension do not have sufficient funds in their accounts.
Now there will be a lifetime pension only for those born after January 1, 1960, who have sufficient funds in their personal accounts to receive at least 15% of the minimum pension for the year, depending on the changes in CSR. By 2021, this means that
the smallest
forever
pension paid
private
funds must
be 45 BGN
There are two sub-options for the annuity: having a guaranteed payment period or the amount that will be rescheduled for a certain number of years. In this case, the payment term and its amount will be chosen by the retiree.
There will be a deferred payment of the amount for a certain number of years for people whose accounts are not large enough to receive for life, but exceed three times the amount of the minimum pension. That is, for next year the deferred payment will be determined for people who have less than BGN 900 in their accounts. The limit here is that the monthly payment is not less than 15% of the minimum pension and not more than its total amount.
A one-time payment is provided for those people who have less money in their accounts than the amount of 3 minimum pensions, according to the bill approved by the government.
The second pension
will be able to
takes 1 year before
ending of
age for
Retirement
of the National Institute of Social Security. The condition is that the lots allow the granting of a life pension that is at least equal to the minimum.
The conditions for receiving money from the heirs of deceased pensioners are also changing. Until now, it was valid for all batches. There will be inheritance only if the pensioner has received a life pension with a guaranteed payment term or if it has been rescheduled.
Pension funds must ensure that pensioners receive at least the amount they have paid as social security contributions, Social Affairs Minister Denitsa Sacheva explained at a government meeting. This means that in cases where they have not been able to ensure profitability, they must return to the pensioner the quotas withheld over the years. Pension companies charge up to 3.75 percent of each social security contribution and up to 0.75 percent of the annual investment rate.
However, the funds receive the right to charge a fee on the money for the payment of pensions. It will be 0.5% of the funds remaining in the account and will be discounted once a year.
Therefore, the reserve funds must be replenished, which will provide the money for the guaranteed amount of life and temporary pensions.
Upon retirement, the individual account is closed and the funds are transferred to a fund for the payment of life pensions. This makes it possible to guarantee both the life nature and the amount of the pension payment of each pensioner, regardless of the cases of long-term pensions or unfavorable investment results. Thus, the pension insurance company assumes the management of the investment and demographic risk.
From January 1 to June 30, 2021 is the deadline for the former to take a second pension to transfer their money to the NSSI, if they decide that this option is more profitable and they do not want to take a second pension.
From January 1, 2022 to December 31, 2025, the money transfer to NSSI will take place no later than one year before reaching retirement age.
From January 1, 2026 to December 31, 2030, it will be possible to transfer money to the National Social Security Institute, but no later than 2 years before reaching the age, and from January 1, 2031 to December 31 from 2035 – no later than 3 years
From January 1, 2036 to December 31, 2037, the term is no later than 4 years, and from 2038 the five years that are currently valid are returned.
650 BGN can no longer be seized
Pensions of up to BGN 650 will not be seized from January 1, 2021. The reason is the change in the amount of the minimum wage from BGN 610 to BGN 650, explained the National Institute of Social Security.
According to the Civil Procedure Code and the Tax and Social Security Procedural Code, the execution can only be directed to pensions with a monthly amount higher than the minimum wage, that is. No deductions from pensions can be made below this amount. The amounts of pension deductions for which taxation is admissible are also determined in relation to the amount of the country’s minimum wage. These restrictions do not apply to maintenance obligations.
Pensioners belonging to this group will receive their pensions after January 7, 2021, depending on the payment method: with a pension record, if paid through a post office, or with an additional transfer to the account of personal payment, if paid through a bank. payment service provider.
Borissov: We promised a minimum pension of BGN 300, it will be available from January 1.
Prime Minister Boyko Borissov boasted of a promise made by the government program at the last government meeting of the year.
“As of January 1, 2021, the minimum pension in our country becomes BGN 300, and as of July 1, all other pensions will increase by 5%, as we promised. This is another fulfillment of our management program “, said.
In January, pensioners will receive their additional 50 BGN due to the coronavirus pandemic, and this payment will continue until March 2021 inclusive, the Prime Minister recalled. “To do this, we provide 106 million BGN every month to be able to support 2,106,718 retirees, or more than a third of the population at the time of the COVID-19 pandemic,” Borissov emphasized.
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