Ordinance No. 57 of 16.01.2018 on Requirements for the Annual Report of Occupational Schemes and Data Provision for Foreign Insurers

ORDINANCE No. 57 of 16.01.2018 on the requirements for the annual report on the occupational scheme and on the procedure and manner of providing data on the management of an occupational scheme of a foreign insurance enterprise Pub. - State Gazette, No. 10 of 30.01.2018, effective from 30.01.2018; amended, No. 41 of 21.05.2019; amended, No. 20 of 11.03.2025, effective from the date of introduction of the euro in the Republic of Bulgaria Adopted by Decision No. 70-N of 16.01.2018 of the CFC

Section I
General Provisions

Art. 1. This Ordinance regulates:

1. the requirements for the type, form and content of the annual report on the occupational scheme;
2. the procedure and manner of providing data by the pension insurance company on the management of an occupational scheme of a foreign insurance enterprise.

Section II
Requirements for the type, form and content of the annual report on the occupational scheme

Art. 2. (1) The annual report on the occupational scheme is prepared in written form and is signed and sealed by the managers and representatives of the pension insurance company, respectively the foreign institution.
(2) The information in the report under para. 1 must be presented in a sequential, complete and clear manner.

Art. 3. The annual report on the occupational scheme shall necessarily contain:

1. the name, unified identification code and legal entity identification code of the pension insurance company, the name, unified identification code and legal entity identification code of the additional voluntary pension insurance fund for occupational schemes, respectively the name and identification code of the foreign institution;
2. the name and identification code of the insurance enterprise;
3. the number and date of the concluded contract with the insurance enterprise;
4. the number of insured persons and pensioners under the occupational scheme at the beginning of the reporting period and the number of insured persons and pensioners at the end of the reporting period, including the number of new insured persons and pensioners, persons who have transferred all their funds, persons to whom all funds have been paid, and deceased persons during the period;
5. the amount of accumulated funds under the occupational scheme at the beginning and at the end of the reporting period, including from contributions on behalf of the insurance enterprise and on behalf of the insured persons;
6. the amount of contributions received under the occupational scheme during the reporting period by month, including on behalf of the insurance enterprise and on behalf of the insured persons;
7. fees and deductions collected during the management of the occupational scheme during the reporting period;
8. data on telephone and contact person with the pension insurance company, respectively with the foreign institution, for the provision of additional information.

Art. 4. (Amend. - State Gazette, No. 20 of 11.03.2025, effective from the date of introduction of the euro in the Republic of Bulgaria) The amount of accumulated funds under the occupational scheme under Art. 3, item 5 shall be presented by the pension insurance company in euros and number of shares, indicating the value of one share of the fund, valid as of the beginning, respectively as of the end of the reporting period.

Art. 5. (1) The information that the pension insurance company includes in the report in accordance with Art. 3, item 7 contains:

1. investment fee in accordance with the rules on organization and activity of the additional voluntary pension insurance fund for occupational schemes;
2. other fees and deductions separately for the reporting period:
   a) the amount of the entry fee - by month and in total for the year; b) the amount of deductions from insurance contributions - by month and in total for the year, including from contributions of the insurance enterprise and from contributions of the insured persons; c) the amount of additional fees - in total for the year. (2) The information that the foreign institution includes in the report in accordance with Art. 3, item 7 contains all fees and deductions collected during the reporting period in accordance with the rules applied by it.

Art. 6. The pension insurance company, respectively the foreign institution, may include in the annual report additional information regarding:

1. the management during the reporting year of the additional voluntary pension insurance fund for occupational schemes, respectively of the foreign institution, and for the risks undertaken in investing the funds, including for significant events that have affected the activity of the company, respectively of the foreign institution, in the management of funds;
2. the fulfillment of obligations under the insurance contract;
3. the reflection on the scheme, including on the rights and obligations of the insurance enterprise and the insured persons, of changes and additions to the regulatory framework and/or to the rules on organization and activity of the fund, occurring during the reporting year, respectively of the rules applicable to the scheme.

Section III
Procedure and manner of providing information on the management of the occupational scheme

Art. 7. (Amend. - State Gazette, No. 41 of 2019) (1) (Amend. - State Gazette, No. 41 of 2019) In the management of an occupational scheme of a foreign insurance enterprise, the pension insurance company submits within 20 days after the end of each month information according to a form approved by the Deputy Chairman of the Commission, heading "Insurance Supervision", in accordance with the characteristics of the occupational scheme. (2) (Amend. - State Gazette, No. 41 of 2019) The information under para. 1 and the evidence and studies under Art. 229v, para. 7 of the Social Insurance Code are submitted in electronic form, signed with a qualified electronic signature.

Additional Provision
§ 1. For the purposes of this Ordinance, "reporting period" is the period from January 1 to December 31 inclusive of the reporting year. In case the occupational scheme is registered during the reporting year, the date of its registration is considered the start of the first reporting period.

Final Provisions
§ 2. (Amend. - State Gazette, No. 41 of 2019) This Ordinance is issued on the basis of Art. 229v, para. 16, Art. 229g1, para. 14, Art. 229g2, para. 12 and Art. 252, para. 2 of the Social Insurance Code and is adopted by Decision No. 70-N of 16 January 2018 of the Commission for Financial Supervision.

§ 3. This Ordinance enters into force on the day of its publication in the "State Gazette".
Chairman: Karina Karaivanova

Final Provisions to the Ordinance on Amendment and Supplement of Ordinance No. 48 of 2013 on the Requirements for Remuneration (State Gazette, No. 41 of 21.05.2019) § 15. In Ordinance No. 57 of 16.01.2018 on the requirements for the annual report on the occupational scheme and on the procedure and manner of providing data on the management of an occupational scheme of a foreign insurance enterprise (Pub., State Gazette, No. 10 of 2018), the following amendments are made:

1. In Art. 7:
   a) in para. 1 the words "and the applicable provisions of the legislation of the host Member State related to investment activity" are deleted; b) para. 2 is amended as follows:
   "(2) The information under para. 1 and the evidence and studies under Art. 229v, para. 7 of the Social Insurance Code are submitted in electronic form, signed with a qualified electronic signature."
2. In § 2 of the final provisions, the words "Art. 229v, para. 15" are replaced with "Art. 229v, para. 16, Art. 229g1, para. 14, Art. 229g2, para. 12".

Provisions to the Ordinance on Amendment and Supplement of Regulatory Acts of the Commission for Financial Supervision (State Gazette, No. 20 of 11.03.2025, effective from the date of introduction of the euro in the Republic of Bulgaria) § 12. In Ordinance No. 57 of 16 January 2018 on the requirements for the annual report on the occupational scheme and on the procedure and manner of providing data on the management of an occupational scheme of a foreign insurance enterprise (Pub., State Gazette, No. 10 of 2018; amend., No. 41 of 2019) in Art. 4, the word "levs" is replaced with "euros".