The main goal of the bill amending and supplementing the Social Security Code is the introduction of the multi-fund model in supplementary pension insurance. This was stated by Deputy Minister of Finance Kiril Ananiev at the presentation of the bill at today's meeting of the National Council for Tripartite Cooperation (NCTC).

He said that a comprehensive review of supplementary pension insurance had been carried out in the context of the goal of Bulgaria's accession to the Organisation for Economic Co-operation and Development (OECD). According to him, there are recommendations for the development and improvement of the regulatory framework.

The creation of sub-funds with different investment profiles is envisaged. The introduction of the multi-fund model will allow insured persons to choose how their pension savings are managed, taking into account "the different risk tolerance of individual categories of persons in the different phases of their life cycle".

Estonia, Lithuania, Slovakia, Croatia, Poland and Romania are some of the countries for which Ananiev said that they have successfully introduced the multi-fund system and supplementary pension insurance.

The NCTC meeting was opened by Deputy Prime Minister in resignation Tomislav Donchev, who is also chairman of the council. He said that it was proposed at the meeting to discuss issues related to the so-called extension law of the budget, as well as the bill for amendment and supplement of the Labor Migration and Labor Mobility Act, published for public discussion.