site.btaParliament Postpones Second Reading Vote on Introduction of Multi-Funds in Supplementary Pension Insurance

The National Assembly postponed the second-reading vote on amendments to the Social Security Code introducing multi-funds in the supplementary pension insurance system. 

The proposal for postponement was made by Denitsa Sacheva (GERB-UDF) after the provisions were presented and debated in the plenary hall. A total of 129 MPs voted in favour of postponing the vote, 28 voted against, and six abstained. 

The postponement was supported by GERB-UDF, Vazrazhdane, MRF – New Beginning, BSP – United Left, one MP from There Is Such a People, five MPs from Alliance for Rights and Freedoms, four from Velichie, and two independent MPs.

The vote was opposed by Continue the Change – Democratic Bulgaria (CC-DB) and three MPs from MECh, while six other MECh MPs abstained. 

A key focus of the second-reading debate was the fees and deductions charged by pension companies for carrying out mandatory supplementary pension insurance activities and for managing pension funds and their sub-funds. 

During the debate, Vazrazhdane and BSP – United Left spoke out against the fees and deductions in favour of pension companies. Former social policy minister Borislav Gutsanov said he had voted against the bill at the Council of Ministers and announced that he intends to transfer his savings from a private pension fund to the National Social Security Institute (NSSI).