The FSC has made a decision to register Fund for deferred payments Doverie (FDP)

By Decision No 667 - FDP of 09.09.2021, the Financial Supervision Commission (FSC) entered in the register under article 30, paragraph 1, item 13 of the Financial Supervision Commission Act, Fund for deferred payments Doverie (FDP Doverie).

 

The Fund was established by a resolution under Minute No 420 of the meeting of the Board of Directors of Pension Assurance Company Doverie held on 02.09.2021, on which date the Company signed its first contract for deferred payment of funds to an insured person in General Pension Fund Doverie, and our client chose to receive BGN 298 monthly, for 16 months. 

  
According to the requirements of the Social Insurance Code, persons who have acquired the right to a pension from a general pension fund upon reaching the age referred to in article 68, paragraph 1 of the Social Insurance Code, whose funds in the individual account are insufficient for the granting of an additional life-time pension for old-age, but exceed three times the amount of the minimum pension for retirement and old-age under article 68, paragraph 1 of the Social Insurance Code as of the date of determination of the value of the funds in the account, shall be entitled to receive them in instalments.

 
Each client of UPF Doverie who meets these conditions and decides to make use of their right to deferred payment should conclude a deferred payment agreement with Pension Assurance Company Doverie and as a result of the concluded agreement the funds in their individual account at UPF Doverie will be transferred to DPF Doverie, from where their deferred payment will be made for the selected period. 

 
We continue to advise our clients to inform themselves about their rights regarding the options to receive the funds accumulated on their individual account in Universal Pension Fund Doverie upon reaching the age referred to in article 68, paragraph 1 of the Social Insurance Code. We also note that their receipt is not bound with the requirement of length of service and the acquisition of entitlement to a pension from the State social insurance.