Calculator on the Company's website, calculates a lifetime pension, without additional conditions, from General Pension Fund Doverie
Pension Assurance Fund Doverie provides all clients of the General Pension Fund with the opportunity to receive information on the estimated amount of their lifetime pension, without additional conditions, which they could receive from Life-time Pension Fund Doverie.
The calculator can be found here. Each insured in the GPF can calculate the estimated amount of their life-time pension based on the actual data on the amount available in their account and under different options of insurance in the GPF for the time remaining until retirement. For this purpose, a person has to enter their date of birth, the amount accumulated in their individual account to date and their insurance contributions. The person also needs to provide an estimate of the growth of their insurable income and the average amount of investment returns realised until they become eligible for retirement.
As a result, the person will be able to see the date on which they will become entitled to a pension from the GPF, the amount, if any, accumulated in their individual account, and the amount of the first life-time pension, without additional conditions, that they would receive from the Fund for life-long pension payments Doverie.
The calculator uses the current charges for insurance in General Pension Fund Doverie and the technical interest rate for determining pensions from Fund for life-long pension payments Doverie, as well as the National statistical institute' Mortality and Life Expectancy Table. The increase in the insurance contributions is limited to the maximum insurance contributions for Bulgaria, which is currently BGN 3,000, and the age of entitlement to a pension complies with the requirements of article 68, paragraph 1 of the Social Insurance Code.
Please note that according to the provisions of the Social Insurance Code, pension payments in the case of insurance in a general fund are not bound to the requirement of length of service but only to the attainment of the age referred to in article 68, paragraph 1 of the Social Insurance Code. The type of payment depends on the amount accumulated in the individual account at the time of retirement, and persons are entitled to a life-time pension if this amount allows the granting of a monthly pension of no less than 15% of the minimum retirement pension under article 68(1) of the Social Insurance Code.
The calculator is very useful for persons who are due to retire soon and will be entitled to a pension from the GPF, as it enables them to estimate the amount of their pension and make an informed decision on the exercise of their rights. Of course, this does not cancel the need to consult directly with representatives of the company that manages their pension savings and of any other pension insurance companies.
On the website of Pension Assurance Fund Doverie, the insured in a general fund can also calculate the age at which they will acquire the right to a pension from the GPF in another, specially developed for this purpose calculator. They can also use the calculators for savings in voluntary fund to create their optimal scenario for achieving the desired income in the period after retirement.