Regulatory Alerts2021-06-15
Decree No. 69 of 15.06.2021 on Technical Interest Rates under the Social Security Code and Formulas for Calculating Additional Life Old-Age Pensions
The Commission for Financial Supervision issued Decree No. 69 to establish the maximum limits for technical interest rates used in calculating additional life old-age pensions and to define the specific mathematical formulas for these calculations. The decree mandates that technical interest rates must not exceed the seven-year average of the long-term convergence assessment rate published by the Bulgarian National Bank, with specific caps for early retirement pensions. It further details the precise actuarial formulas for determining pension sizes based on guaranteed payment periods, deferred payments, and individual account balances.
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