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Vazrazhdane again urges end to second pension pillar, with money to go to state pension fund

12.11.2026

Vazrazhdane wants the second pension pillar scrapped for the fourth budget in a row, the party's economic adviser Viktor Papazov said.

Снимка от Dbalinov, Wikimedia Commons, под лиценз CC BY 2.5 bg; обработена

Vazrazhdane will propose closing the second pillar of the pension system and moving its money to the National Social Security Institute (NOI). Viktor Papazov, the party's economic adviser, announced the plan in the parliament corridors.

"For the fourth budget in a row, Vazrazhdane is proposing to close the second pension pillar, which has been proven to cheat Bulgarian citizens and future pensioners," Papazov told reporters.

The party commissioned an expert analysis from Dr Lyubomir Hristov and relies on it. Papazov says the analysis shows the second pillar is a failure and puts future pensioners at risks that state social insurance protects them from.

Papazov believes a group of private pension funds, their governing bodies and departments live off this money. "It is very important for Bulgaria's future to stop this robbery and the parasitic feeding of a group of private pension funds on these funds," he said.

He hopes the ruling majority will find the courage to back the proposal, because, he says, it has had similar ideas too.

Papazov said that last week the opposition, which he called fake, tried to stir up a scandal where there is none, in order to hide the real one: the robbery of Bulgarian citizens.

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