Ordinance No. 33 of 16.07.2026 on Individual Applications for Participation in an Additional Mandatory Pension Fund and for Resuming Insurance in a Universal Pension Fund

ORDINANCE No. 33 of 16.07.2026 on Individual Applications for Participation in an Additional Mandatory Pension Fund and for Resuming Insurance in a Universal Pension Fund Published - State Gazette, No. 67 of 24.07.2026, effective from 01.01.2027 Adopted with Decision 291-N of 16.07.2026 by the Commission for Financial Supervision

Section I General Provisions

Art. 1. This Ordinance regulates:

1. the procedure for submitting an individual application for participation in an additional mandatory pension fund;
2. the procedure for submitting an individual application for resuming insurance in a universal pension fund;
3. the requirements for the form and content of the applications under items 1 and 2.

Art. 2. When or in connection with the choice of an additional mandatory pension fund under the conditions and procedure of this Ordinance, pension insurance companies, their shareholders, insurance intermediaries, or other persons shall not provide, offer, or promise in any form special privileges, gifts, services, or other benefits to persons subject to insurance, respectively to persons resuming their insurance in a universal pension fund.

Section II Procedure for Submitting an Application for Participation in an Additional Mandatory Pension Fund and Requirements for its Form and Content

Art. 3. (1) A person for whom the obligation to insure in a universal pension fund initially arose shall submit within the period specified in Art. 137, para. 11 of the Social Insurance Code (SIC) an individual application in the form according to Appendix No. 1 to the pension insurance company managing the fund in which they wish to participate. (2) With the application under para. 1, the person specifies the manner in which their funds are to be managed, by indicating a sub-fund or a management regime and automatic transfer of their funds to a sub-fund in accordance with their age under Art. 137, para. 13 of the SIC (age-based regime). (3) A person for whom the obligation to insure in a professional pension fund has arisen shall submit within the period specified in Art. 140, para. 3 of the SIC an individual application in the form according to Appendix No. 2 to the pension insurance company managing the fund in which they wish to participate. (4) The applications under paras. 1 and 3, hereinafter referred to as "applications for participation", shall be printed in one copy double-sided and in A4 format. Instructions for filling them out according to Appendices No. 1 and 2 shall be printed on the back of each application. (5) When the applications for participation under paras. 1 and 3 are submitted on paper, the signature of the person shall be certified by a notary. When the application for participation is drawn up as an electronic document, it shall be signed by the insured person with a qualified electronic signature.

Art. 4. (1) Applications for participation shall be submitted to the pension insurance company by the insured person through an employee of the pension insurance company or an insurance intermediary, respectively through an authorized person from an insurance intermediary - a legal entity, or as an electronic document. (2) Before accepting an application under Art. 3, para. 1 and concluding the insurance contract, the employee of the pension insurance company or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity:

1. provides the person intending to submit an application with: a) current written information on the main characteristics of the universal pension fund and the sub-funds therein according to Appendix No. 3; b) a questionnaire for assessing the degree of investment risk permissible for the person;
2. acquaints the person with the results of the assessment under item 1, letter "b" and consults them in the choice of a sub-fund with a suitable investment profile;
3. assists the person in carrying out all actions related to the submission of the application to avoid prejudice to their interests. (3) When the application under Art. 3, para. 1 is drawn up as an electronic document, it shall be submitted by the insured person by e-mail, via the company's website or online platform. The provision of information, the questionnaire, the acquaintance with the results, and the consultation under para. 2 shall be carried out via the website, the online platform, or messages by e-mail. The pension insurance company shall provide the possibility, upon request of the insured person, to receive a consultation from its employee or an insurance intermediary, respectively from the authorized person from an insurance intermediary - a legal entity, during working hours. (4) When submitting an application under Art. 3, para. 3, the employee of the pension insurance company or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, assists the person in carrying out all actions related to the submission of the application, with the aim of protecting their rights and interests, and provides them with current written information in the form according to Appendix No. 4. (5) When the application under Art. 3, para. 3 is submitted as an electronic document, para. 3 shall apply accordingly. (6) The employee of the pension insurance company shall be identified to the insured person by an official ID card, and the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity - by the document under Art. 123g, para. 12 of the SIC. (7) The pension insurance company shall not accept and shall return an application for participation when:
4. the application is submitted on paper without a notarized signature;
5. it is an electronic application not signed with a qualified electronic signature;
6. it is an application for participation with incomplete data and/or corrections, when as a result of these incompletenesses and corrections: a) the person who submitted the application cannot be identified; b) the choice made regarding the manner in which their funds are to be managed cannot be established, and/or c) the data under Art. 9, para. 4 cannot be entered into the register. (8) The pension insurance company is obliged to notify the person of the specific reason why their application for participation was not accepted. (9) Simultaneously with the submission of the application, the insured person signs an insurance contract with the pension insurance company managing the fund in which they wish to participate. (10) When accepting an application for participation on paper, the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, provides the person with the incoming number and date, certifies its acceptance with name, position, and signature, respectively with name, official number, and signature for the insurance intermediary, and fills in the data determined for the company. The original of the application remains with the pension insurance company. Upon request by the person, the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, is obliged to provide them with a certified copy of the submitted application with the entered incoming number. The pension insurance company sends to the National Revenue Agency (NRA) by the 20th day of the current month information with data on the persons under para. 9, with content and in the manner determined in the contract under Art. 159, para. 8 of the Social Insurance Code. (11) When accepting an application for participation as an electronic document, the application and the contract, signed with a qualified electronic signature by the person accepting the application, are sent to the insured person's e-mail address indicated in the application or in their electronic signature, if not indicated in the application, on the day of its receipt. When the application is submitted outside working hours or on a non-working day, the documents under the first sentence are sent to the person on the first working day after that date. Information on accepted applications is sent to the NRA in the manner and within the deadlines of para. 10. (12) The National Revenue Agency checks the data in the information received in the manner of paras. 10 and 11 and within a three-month period:
7. enters into an electronic register the persons who are subject to insurance in an additional mandatory pension fund;
8. prepares a list of persons for whom it is established that they are not subject to insurance in an additional mandatory pension fund. (13) The National Revenue Agency sends electronically to the pension insurance company within an agreed period the list under para. 12, item 2. The pension insurance company notifies the persons whose applications are invalid by e-mail, by letter, or through an insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity - in writing against signature, within seven days from receipt of the list from the NRA.

Section III Procedure for Submitting an Application for Resuming Insurance in a Universal Pension Fund

Art. 5. (1) A person who wishes to resume their insurance in a universal pension fund under the conditions of Art. 124a, paras. 1 and 2 of the SIC shall submit an individual application in the form according to Appendix No. 5 to the pension insurance company managing the fund in which they wish to participate. (2) With the application under para. 1, the person specifies the manner in which they wish their funds to be managed, by indicating a specific sub-fund or the age-based regime. (3) The applications under para. 1, hereinafter referred to as "applications for resuming insurance", shall be printed in one copy in A4 format. Instructions for filling them out shall be printed on the back of each application. (4) When the application for resuming insurance is submitted on paper, the signature of the person shall be certified by a notary. When the application is drawn up as an electronic document, it shall be signed by the insured person with a qualified electronic signature. (5) The application for resuming insurance shall be submitted by the person to the pension insurance company through an employee of the company or through an insurance intermediary, respectively through an authorized person from an insurance intermediary - a legal entity, or as an electronic document. (6) When submitting an application for resuming insurance, the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity:

1. before accepting the application and concluding the insurance contract, provides the person intending to submit an application with: a) current written information on the main characteristics of the universal pension fund and the sub-funds therein according to Appendix No. 6; b) a questionnaire for assessing the degree of investment risk permissible for the person;
2. acquaints the person with the results of the assessment under item 1, letter "b" and consults them in the choice of a sub-fund with a suitable investment profile;
3. assists the person in carrying out all actions related to the submission of the application to avoid prejudice to their interests. (7) When the application for resuming insurance is submitted as an electronic document, the provisions of Art. 4, paras. 3 and 6 shall apply accordingly. (8) The pension insurance company shall not accept and shall return an application for resuming insurance when:
4. the application is submitted on paper without a notarized signature;
5. it is an electronic application not signed with a qualified electronic signature;
6. it is an application with incomplete data and/or corrections, when as a result of these incompletenesses and corrections: a) the person who submitted the application cannot be identified; b) the choice made regarding the manner in which their funds are to be managed cannot be established, and/or c) the data under Art. 9, para. 5 cannot be entered into the register. (9) The pension insurance company is obliged to notify the person of the specific reason why their application for resuming insurance was not accepted. (10) The employee of the pension insurance company or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, accepts the application for resuming insurance, assigns it an incoming number and date, which they provide to the person, and fills in the data determined for the company. (11) When the application is submitted:
7. on paper - the employee certifies its acceptance with name, position, and signature, and the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, with name, official number, and signature; upon request by the insured person, the person who accepted the application is obliged to provide them with a certified copy of the submitted application with the entered incoming number and date, and the original of the application remains with the pension insurance company;
8. as an electronic document - an electronic copy of it and the concluded insurance contract, signed with the qualified electronic signature of the person who accepted the application, are sent immediately after receipt of the application to the e-mail address of the insured person indicated in the application or in their electronic signature, if not indicated in the application, respectively - on the first working day after that date if the application is submitted outside working hours or on a non-working day. (12) Simultaneously with the submission of the application for resuming insurance, the person signs an insurance contract with the pension insurance company managing the fund in which they wish to participate. The contract takes effect from the first day of the month following the month of submission of the application under para. 1, provided that the requirements of Art. 124a, paras. 1 and 2 of the SIC are met. (13) The pension insurance company provides the NRA with information on accepted applications for resuming insurance within the period specified in Art. 11, para. 2 of the Ordinance on the Procedure for Choosing Insurance, Payment and Distribution of Mandatory Insurance Contributions, Contributions to the "Guaranteed Claims of Workers and Employees" Fund, and for the Exchange of Information, adopted with Council of Ministers Decree No. 175 of 2018 (State Gazette, No. 70 of 2018) (hereinafter "the Ordinance on the Procedure for Choosing Insurance"). (14) After checking the information received under para. 13, the NRA sends to the pension insurance company information regarding applications that are invalid within the period specified in Art. 11, para. 3 of the Ordinance on the Procedure for Choosing Insurance. The pension insurance company notifies persons with invalid applications, indicating the grounds for this, by e-mail, by letter, or through an employee or insurance intermediary - in writing against signature, within seven days after receiving the information from the NRA. (15) The transfer of funds for persons with valid applications is carried out by the NRA within the period specified in Art. 11, para. 5 of the Ordinance on the Procedure for Choosing Insurance.

Section IV Other Obligations

Art. 6. Persons are obliged to notify the pension insurance company managing the fund in which they are insured of any change in the personal data recorded in their submitted application for participation, respectively - application for resuming insurance.

Art. 7. Pension insurance companies publish on their website current information on the addresses of their offices, the forms of applications for participation and for resuming insurance in a universal pension fund, the insurance contracts concluded in connection with them, and the current documents with basic information for insured persons.

Art. 8. The pension insurance company exercises control over the activities of insurance intermediaries for compliance with the requirements of this Ordinance. The company's internal control service notifies its management bodies of any established violation of the Ordinance.

Section V Registers

Art. 9. (1) The pension insurance company is obliged to keep an electronic register of submitted applications for participation for each additional mandatory pension fund managed by it, assigning a unique incoming number to each application. (2) The pension insurance company managing a universal pension fund is obliged to keep an electronic register of submitted applications for resuming insurance, assigning a unique incoming number to each application. (3) The entry of the applications under paras. 1 and 2 into the electronic registers is carried out within three working days from the day of submission of the respective application. (4) Each register under para. 1 contains the following data:

1. incoming number and date of submission of the application to the company;
2. date of entry of the application into the register;
3. manner of submission - on paper or as an electronic document;
4. names according to identity document of the person who submitted the application, EGN (Unified Civil Number) and personal card number (analogous data for a foreign person);
5. names according to identity document and EGN (analogous data for a foreign person) of the insurance intermediary, respectively of the authorized person from an insurance intermediary - a legal entity, when the application is submitted through their intermediation;
6. date on which the information under Art. 4, para. 10 or 11 was sent to the NRA;
7. date of notarization of the application for participation and data on the person who performed it (name, number, area of activity, and settlement);
8. data on the sub-fund chosen by the person in the universal pension fund, respectively the sub-fund when choosing the age-based regime;
9. number and date of the insurance contract;
10. remarks on the entered circumstances. (5) The register under para. 2 contains the corresponding data under para. 4, items 1-5, 7, 8, and 10, as well as:
11. date on which the pension insurance company submitted to the NRA information on the accepted application for resuming insurance;
12. information on the validity of the application and the date on which it was provided by the NRA;
13. date of the written notification from the pension insurance company under Art. 5, para. 14, second sentence;
14. number and date of the insurance contract concluded with the person and the date on which it takes effect. (6) The electronic registers are kept by employees determined by written order in accordance with the Ordinance under Art. 123j, para. 1 of the SIC.

Additional Provisions

§ 1. Copies of the documents provided to the insured persons in the manner of this Ordinance shall be certified in accordance with the requirements of § 1b, para. 2 of the Additional Provisions of the SIC.

Transitional and Final Provisions

§ 2. Applications for initial choice and for resuming insurance submitted by 31 December 2026 shall be examined under the previous procedure.

§ 3. Ordinance No. 33 of 19.09.2006 on Individual Applications for Participation in an Additional Mandatory Pension Fund and for Resuming Insurance in a Universal Pension Fund (published, State Gazette, No. 83 of 2006; amended and supplemented, Nos. 57 and 64 of 2012, No. 67 of 2014, No. 62 of 2016, Nos. 10 and 94 of 2018, No. 41 of 2019, and No. 54 of 2021) is repealed.

§ 4. This Ordinance enters into force on 1 January 2027.

§ 5. This Ordinance is issued on the basis of Art. 124a, para. 6, Art. 137, para. 11, and Art. 140, para. 3 of the SIC in conjunction with § 192 of the Transitional and Final Provisions of the Law on Amendment and Supplement to the Social Insurance Code (State Gazette, No. 27 of 2026) and is adopted with Decision 291-N of 16 July 2026 by the Commission for Financial Supervision.

Chairman: Vasil Golemanski

Appendix No. 1 to Art. 3, para. 1

INSTRUCTIONS FOR FILLING OUT THE APPLICATION

1. The application shall be filled out legibly, with printed letters, observing the boundaries of the fields.
2. The names and permanent address of the applicant shall be filled out in accordance with the data in the personal card or other identity document. The field "current address" shall be filled out when it differs from the person's permanent address.
3. In the field "EGN/Personal Number/Foreigner's Personal Number", the unified civil number of the person, respectively personal number, personal number of a foreigner, or official number issued by the NRA shall be entered.
4. The field "E-mail Address" shall be filled out if you have one and wish to use this method of communication with the company.
5. In item 2, you should place a sign "X" if you have refused to fill out the questionnaire for assessing the degree of investment risk permissible for you.
6. In item 3, the chosen sub-fund or management regime and automatic transfer in accordance with age must be marked with a sign "X".
7. The employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, must enter the incoming number and date, which they provide to the person.
8. The box at the bottom of the application shall be filled out by the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, who accepted it.
9. The original of the application remains with the pension insurance company, and upon request by the person, the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, is obliged to provide them with a certified copy of the submitted application with the entered incoming number and date.

Appendix No. 2 to Art. 3, para. 3

INSTRUCTIONS FOR FILLING OUT THE APPLICATION

1. The application shall be filled out legibly, with printed letters, observing the boundaries of the fields.
2. The names and permanent address of the applicant shall be filled out in accordance with the data in the personal card or other identity document. The field "current address" shall be filled out when it differs from the person's permanent address.
3. In the field "EGN/Personal Number/Foreigner's Personal Number", the unified civil number of the person, respectively personal number, personal number of a foreigner, or official number issued by the NRA shall be entered.
4. The field "E-mail Address" shall be filled out if you have one and wish to use this method of communication with the company.
5. The employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, must enter the incoming number and date, which they provide to the person.
6. The box at the bottom of the application shall be filled out by the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, who accepted it.
7. The original of the application remains with the pension insurance company, and upon request by the person, the employee or the insurance intermediary, respectively the authorized person from an insurance intermediary - a legal entity, is obliged to provide them with a certified copy of the submitted application with the entered incoming number and date.

Appendix No. 3 to Art. 4, para. 2, item 1, letter "a" BASIC INFORMATION FOR INSURED PERSONS IN A UNIVERSAL PENSION FUND (logo of PIC) (name of PIC) (name of the fund) Shareholders holding 10 and over 10 percent of the capital of ___________________________ (name of PIC) No. Names of Natural Persons/name and EIK of Legal Entities Size of Participation in Capital

1. ... %
2. ... %
3. ... % I. What you need to know about additional mandatory pension insurance in a Universal Pension Fund (UPF)? Additional mandatory pension insurance in the UPF is part of the second pillar of the pension system in the Republic of Bulgaria. It is carried out by private pension insurance companies that establish and manage this type of fund. Additional mandatory pension insurance in the UPF does not replace, but supplements state pension insurance (first pillar), with the goal that insured persons receive, in addition to the "state" pension, a second additional pension. Each pension insurance company (PIC) may manage only one UPF. Persons born after 31 December 1959 are mandatorily insured in the UPF if they are insured in the "Pensions" fund, respectively - in the "Pensions for persons under Art. 69" fund of state public insurance, unless they choose to change their insurance from the UPF to state public insurance. Persons who choose to resume their insurance in such a fund are also insured in the UPF, if at a previous moment they exercised the said right to change their insurance. The insurance contribution is monthly and amounts to 5% of the insurance income. It is distributed between the employer (2.8%) and the employee/worker (2.2%). S