site.btaBASPSC: Supplementary Pension Companies Are Ready for Euro Adoption

Pension companies are stable and reliably manage over BGN 27 billion in personal savings for the second pension of over 5 million insured persons. Citizens should rest assured that their accounts are safe and should not fear any losses from introducing multi-funds or from the adoption of the euro. On the contrary, there will only be benefits for people of all ages.

This message was conveyed by the Chair of the Management Board of the Bulgarian Association of Supplementary Pension Security Companies (BASPSC), Evelina Miltenova, at a forum on Thursday entitled “Changes in the pension model in Bulgaria”, organized by the CFA Society Bulgaria.

“For over 20 years, the industry has shown that it has the capacity and ability to implement bold decisions for the benefit of insured persons. We are ready to build on this and manage personal accounts even more successfully under a multi-fund model and open to new investment horizons,” Miltenova said, quoted in a press release from BASPSC.

“Bulgaria is facing an historic transformation: the adoption of the euro on January 1, 2026. I am proud to say on behalf of the pension insurance companies that the sector is fully prepared. The revaluation will be automatic, free of charge for citizens, and transparent. All accounts will be converted into euro at a fixed rate without losses for insured persons, without new contracts, without administrative burden,” she said, adding that joining the eurozone will also provide new opportunities – lower transaction costs, deeper and more liquid capital markets, a higher credit rating for Bulgaria and, respectively, more efficient and profitable management of pension assets.

At the forum, the industry presented the main challenges facing the capital pillars and mathematical calculations of how the introduction of multi-funds would affect people’s savings.