Pension funds in Bulgaria – are they a stabilizing factor for the social security system in the country?

• Autorzy: Milev Jeko Nikolaev , Robev Kliment

Identyfikatory

DOI

10.21008/j.0239-9415.2024.090.04

Warianty tytułu

PL

Fundusze emerytalne w Bułgarii – czy są czynnikiem stabilizującym system zabezpieczenia społecznego w kraju?

• Języki publikacji: EN

Abstrakty

EN

The Bulgarian social security system underwent significant reforms in the late 1990s, transforming it into a three-pillar structure. The first pillar operates on a pay-as-you-go principle and comprises five distinct funds: the Pension Fund, General Disease and Maternity Fund, the Occupational Accident and Professional Disease Fund, the Unemployment Fund, and the Non-Work-Related Pension Fund. The second pillar is supplementary compulsory pension security, which operates on a fully funded principle. Pension companies manage defined contribution pension plans based on individual accounts. The third pillar is supplementary voluntary pension security, also based on a fully funded principle, allowing individuals to accumulate additional resources to finance supplementary pension benefits. The implemented reforms aimed to address the unfavourable demographic changes expected to unfold in the coming years, which would place significant pressure on the country’s pension system. The establishment of the second and third pillars was expected to enhance the financial stability of the system and increase the adequacy of pension benefits for future generations of retirees. More than two decades later, the demographic structure of the Bulgarian population continues to deteriorate, corresponding to earlier predictions. However, several factors have adversely affected the second and third pillars, preventing them from fully supporting the first pillar as intended. The main aim of this article is to assess the reforms implemented in the Bulgaria’s social security system over the years, the problems encountered, and the solutions required. The focus is on the pension system, as it absorbs the greatest part of the resources and affects the largest portion of the population. The first part of the paper describes the reforms and their expected results, while the second part analyses the current problems of the system and possible future reforms that could improve its long-term sustainability.

PL

Bułgarski system zabezpieczenia społecznego przeszedł znaczące reformy pod koniec lat 90. i został przekształcony w strukturę trójfilarową. Wdrożone reformy miały na celu zaradzenie niekorzystnym zmianom demograficznym, które miały nastąpić w najbliższych latach, co wywarłoby poważną presję na krajowy system emerytalny. Ustanowienie drugiego i trzeciego filaru miało ustabilizować finansowo system i zwiększyć adekwatność świadczeń emerytalnych dla przyszłych pokoleń emerytów. Ponad dwie dekady później struktura demograficzna bułgarskiej populacji nadal się pogarsza, zgodnie z wcześniejszymi przewidywaniami. Kilka czynników negatywnie wpłynęło na drugi i trzeci filar, uniemożliwiając im pełne wsparcie pierwszego poziomu. Głównym celem niniejszego artykułu jest ocena reform przeprowadzonych w bułgarskim systemie zabezpieczenia społecznego na przestrzeni lat, napotkanych problemów i wymaganych rozwiązań. Skupiono się na systemie emerytalnym, ponieważ pochłania on najwięcej środków i dotyczy największej części populacji. W pierwszej części artykułu opisano reformy i ich oczekiwane rezultaty, w drugiej – zanalizowano obecne problemy systemu i możliwe przyszłe reformy, które mogłyby zwiększyć stabilność systemu emerytalnego w dłuższej perspektywie.

Słowa kluczowe

EN

Bulgarian social security system; pension funds; risks; insured individuals

PL

ryzyko; fundusze emerytalne; ubezpieczeni; bułgarski system zabezpieczenia społecznego

• Wydawca: Wydawnictwo Politechniki Poznańskiej
• Czasopismo: Zeszyty Naukowe Politechniki Poznańskiej. Organizacja i Zarządzanie
• Rocznik: 2024
• Tom: Nr 90
• Strony: 61--79
• Opis fizyczny: Bibliogr. 36 poz., rys., tab.

Twórcy

autor

Milev Jeko Nikolaev

• University of National and World Economy, Finance

• https://orcid.org/0000-0003-0433-3761

autor

Robev Kliment

• University of National and World Economy, Finance

Bibliografia

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa nr POPUL/SP/0154/2024/02 w ramach programu "Społeczna odpowiedzialność nauki II" - moduł: Popularyzacja nauki (2025).