NEW ASPECTS OF THE GUARANTEE MECHANISMS IN THE FUNDED PENSION INSURANCE IN BULGARIA
Keywords:
funded pension scheme, insurance market, market risk, guarantee, minimum guaranteed return, pension reserves, forms of pension paymentsAbstract
The funded pension funds risks limitation is objectively determined and realized through its management, in the process of which the problem of risk distribution between the pension funds participants, the pension service providers and other institutions is solved. The forms of this distribution are the application of a degree of guaranteed return and guaranteeing the amount of granted pensions by forming reserves for various purposes. In this regard, the article examines the economic impact of guarantees in funded pension programs and applied in our country guarantee mechanisms in order to achieve financial stability in the accumulation and payment phases. Emphasis is placed on the changes in the regulatory framework that came into force in 2021.References
Daneva, I. Funded insurance for adequate and sustainable pensions. S., 2016
Daneva, I. Insurance and insurance market. NBU, S., 2018
Pavlov, N. Liberalization of social security. Abagar, 2007
Milev, J. The New Normality For The Universal Pension Funds In Bulgaria After The Pandemic Crisis. 7th Annual Monetary And Economic Scientific Conference - "The New Normality After The Pandemic - An Economic Perspective", 20-21 septembre 2021, UNWE. http://www.mrcenter.info
Social Security Code (promulgated SG, issue 110, 1999, last amended and supplemented in 2021) - www.fsc.bg
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