site.btaBulgarian Pension Security Companies Generate EUR 584 Mln in Investment Income in H1 2026 - Industry Expert

Bulgarian pension security companies generated EUR 584 million in accumulated investment income in the first half of 2026, which was credited to the individual accounts of insured persons, Evelina Miltenova, head of the Bulgarian Association of Supplementary Pension Security Companies, said on Monday.

According to preliminary data from the pension companies, the savings held in these accounts have increased by a cumulative EUR 3.4 billion over the past three and a half years. At the end of June 2026, the pension funds’ total assets exceeded EUR 17.2 billion.

Miltenova said that the returns achieved increase insured persons’ savings over and above the gross monthly contributions of 5%. She said the strong results demonstrate the companies’ capacity to manage people’s savings successfully despite market and geopolitical challenges.

The Association head also noted that pension insurance companies have begun actively informing their clients about the introduction of the multi-fund model on January 1, 2027.

Under the model, three sub-funds will be established within universal pension funds, which constitute the second pillar of the pension system. Pension insurance companies will be allowed to apply different investment strategies depending on the age of the insured persons. People aged up to 50 will be placed in a dynamic sub-fund. Those aged over 50 who have more than three years remaining until retirement will be placed in a balanced subfund, while people within three years of retirement will be required to join a conservative sub-fund.

“This reform will help generate further growth in the returns from asset management and will consequently increase the amounts accumulated in individual accounts, as well as the pensions paid by funded pension schemes,” Miltenova said.

The introduction of the multifund model is a good opportunity for every employed person to check which pension insurance company manages their account and how much has accumulated from contributions and investment returns, the Association said.

The information is available through the National Revenue Agency’s (NRA) website using a Personal Identification Code or by calling the NRA’s national information line at 0700 18 700.

The Association also recalled that, for the first time, between September 1 and November 30, insured persons will be able to choose how their inheritable individual accounts are managed.

Anyone who does not approve of their default allocation to a subfund based on age may submit a request to their pension insurance company. Those who do not expressly state a preference will be allocated automatically according to their age. They will subsequently be able to change their choice once every 12 months.