31.01.2023

CAN YOU WITHDRAW YOUR MONEY FOR SUPPLEMENTARY PENSION?

The funds that accumulate in the funds for additional mandatory and/or voluntary pension insurance are intended to provide an additional pension (apart from the state social insurance pension) and increase the pension income.

The possibilities to withdraw funds from the individual lot after acquiring the right to an additional pension are different for each of the funds, as for universal and professional they are defined by law, and for the voluntary fund it is a matter of choice of the insured person, explain the experts from the Bulgarian Association of supplementary pension insurance companies.

Funds from a universal fund can be withdrawn, one-time or deferred, only in the event that the calculated monthly amount of the pension at the date of its granting is less than 20% of the current amount of the social pension for old age.

The funds from a professional fund can be withdrawn, once or in installments, if the person did not take advantage of the possibility of early retirement from the State Social Insurance or from a professional pension fund and retired under the conditions of Article 68, Paragraph 1 of the Code on Social Security.

The funds from an occupational fund can be withdrawn, once or in installments, and when the insured person has acquired the right to an occupational pension for early retirement, but the calculated monthly amount of the pension at the date of its granting is less than 20% of the current amount of the social old age pension.