Fewer and fewer Bulgarians want to rely solely on state pension and choose to receive money from the second pillar. The number of people who have opted out of the second pension and transferred their funds from universal pension funds to the "Pensions" fund of the state social security system has decreased sixfold.
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In 2021, this decision was made by 35,163 individuals, while in the previous year, only 6,928 individuals transferred their pensions, according to data provided by the Minister of Labor and Social Policy, Lazar Lazarov, in response to a parliamentary question. Naturally, the amount transferred from the universal pension funds to the National Social Security Institute (NSSI) has also decreased. In 2021, contributions totaling nearly 291 million BGN were transferred, compared to over 68 million BGN in the previous year.
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Since 2015, individuals insured in universal pension funds have been able to choose to change their coverage by transferring their funds to the "Pensions" fund of the NSSI. Since 2016, this option has also been available to individuals insured in professional pension funds.
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