Employee Benefits Needs and Market Trend in Bulgaria, Luxembourg, Austria and Russia - Global Industey Size, Share, Growth and Research Report

The report provides in-depth industry analysis, information and insights into employee benefits in Bulgaria, including:

An overview of state and compulsory benefits in Bulgaria

Detailed information on private benefits in Bulgaria

Insights into various central institutions responsible for the administration of the different branches of social security

The regulatory framework and recent regulations relating to Bulgarian employee benefits

Executive summary

The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old-age and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes. In Bulgaria, the pension system is classified into four pillars: the pay-as-you-go (PAYG) public pension insurance scheme, which is mandatory; supplementary compulsory pension insurance, which is divided into the Universal Pension Fund and the Professional Pension Fund; voluntary pension funds; and voluntary occupational schemes regulated by the Institutions for Occupational Retirement Provision (IORP) directive. Voluntary occupational schemes are managed by pension fund companies.

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Russia underwent major economic and political change following the collapse of the Soviet Union in 1991. During this two-decade transition period, a number of changes were made to the country’s social security system, including the development of private employee benefit plans, the establishment of a three-tier pension system, and the setting up of cost-of-living compensation.

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