The supplementary pension insurance in Bulgaria is pursued by licensed pension companies, any of them managing one universal, occupational and voluntary fund each. It is built up on the principle of capital accumulation. The amount of the supplementary pension depends on the accumulated funds on the person’s individual account and the achieved rate of return on the fund’s investments. At the present time there are 9 licensed pension companies operating in Bulgaria, in the funds of which 3.2 million people are insured.

The supplementary pension insurance does not substitute, but supplements the state pension insurance, providing а possibility to the insured persons to receive together with the state pension, one more or even more pensions subject to the availability of the legally stipulated conditions.

The activities of the private companies and the state of the pension funds which they manage is of great public significance for the stability of the country’s economic system and for the financial security of every citizen. The social effect from a well functioning, well coordinated and strictly controlled system of social security improves the citizens’ life standard.