NEW ASPECTS OF THE GUARANTEE MECHANISMS IN THE FUNDED PENSION INSURANCE IN BULGARIA

Ivanka Daneva

Abstract


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.

Keywords


funded pension scheme, insurance market, market risk, guarantee, minimum guaranteed return, pension reserves, forms of pension payments

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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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New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria - contract № КП-06-НП1/5 of 17.12.2019 in the competition of Bulgarian scientific periodicals – 2019

New knowledge Journal of science is financed by the National Science Fund of the Republic of Bulgaria – contract № ДНП 05/52 от 22.12.2016 in the competition of Bulgarian scientific periodicals – 2016

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