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Professional Pension Fund UBB

Anyone who performs category I or II work is covered by an occupational pension fund. (All activities of category I and II work are described in detail in the Ordinance on categorization of work in retirement, as amended and supplemented. SG 15/2013). This entitles to an additional early retirement pension. The early retirement pension is payable until the person becomes entitled to a retirement pension from the State Social Insurance.

Insurance in PPF

Defined contributions

The contribution to the occupational pension fund is entirely at the expense of the employer. Its amount for 2024 is:

  • 12% of the insurance income for those working in category I;
  • 7% of the insurance income for workers in category II.
Capital principle The PPF insurance is based on a capital principle. This means that individuals have their own individual account, the funds in which accumulate over time, are invested and provide additional income.
Succession The funds in the individual pension insurance account are owned by the insured person and are inherited. The legal heirs of a deceased insured person may receive the funds accumulated in the individual account in the form of a lump sum or a deferred payment.
Protection from enforcement The funds accumulated in the individual PPF account are not enforceable.


The custodian bank of Professional Pension Fund UBB is UniCredit Bulbank.

The value of a unit of the Professional Pension Fund UBB, valid for the last working day of each month, is announced on the third working day of the following month in the newspaper "Trud"

Results of funds management

UBB Pension Insurance manages the funds of the persons insured in the UBB PPF in compliance with the principles of quality, reliability, liquidity, profitability and diversification. The asset management of the Professional Pension Fund is based on two main objectives:

  1. Long-term - preservation of purchasing power and real growth of the funds in the individual accounts of the persons insured in the fund. The criterion for the achievement of the objective is to achieve a return over a period of at least 10 years higher than the inflation rate calculated on the basis of the Consumer Price Index published by the National Statistics Institute;
  2. Medium term - achieving a return above the average for the supplementary pension market, calculated on the basis of information published by the Financial Supervision Commission.

The Company seeks to reduce the Fund's investment risk by maintaining a high level of portfolio diversification by asset class and selecting investment instruments and issuers to achieve the best possible expected return while minimising the risk associated with individual securities of a given issuer or asset class.

The investment policy of UBB PPF can be found in the Investments section.


Average amount of the accumulated funds of the persons for whom at least one contribution to the PPF has been made in the previous 12 months (as of 30.09.2023).

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9 485,83 BGN


8 322,49 BGN

average for all PPF

Portfolio structure of UBB Professional Pension Fund as of 31.12.2022
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  • Government and supranational bonds 56.06%
  • Corporate bonds 4.87%
  • Equity and mutual funds 29.32%
  • REIT's 2.61%
  • Deposits and Money-market 7.14%
  • Receivables 0.00%
Rights of insured persons

Rights of insured persons

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Right to choose

Everyone who works in categories I and II is entitled to participate in an professional pension fund. The choice of professional pension fund must be made within three months of starting your first job. It is important to know that if you do not choose the pension company that will manage your professional pension funds within three months of starting your first job, you will be allocated administratively to one of the existing professional pension funds. It is important to choose a pension company that will manage your money responsibly and professionally in the years leading up to retirement.


The right to change to another professional fund

The funds in your individual account can be transferred to another pension fund if 1 year has passed since your last transfer (the 1-year period applies both from the last change of participation and from the conclusion of the first insurance contract or service allocation). Disagreement with changes made to the Fund's Regulations (except in the case of a change to the Regulations resulting from a change in the regulatory framework, i.e. which is not initiated by the pension company itself or in the case of a change of the pension company's registered office or address) and the Fund's investment policy also give rise to a right to a change of participation.

The right to change participation in the Pension Fund of the State Social Insurance

Persons insured in an occupational pension fund have the right to change their insurance from an occupational pension fund to the Pension Fund of the Social Insurance Institution once. In this case, their contribution to the Pension Fund of the Social Insurance Institution shall be increased by the amount of the contribution to the occupational pension fund. The right may be exercised if the persons have not been granted a retirement pension or an occupational early retirement pension.


Right to information

  • Free information on the amount accumulated in the personal insurance account, the insurance contributions paid, the returns realised on the fund's investments, the fees and deductions collected by the company;
  • A statement of the individual insurance account for the previous calendar year, which is sent by email or post by 31 May each year.


Payments from the Fund

Pension amount

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The amount of the fixed-term pension from the UBB Professional Pension Fund is determined by:

  • the amount and regularity of the contributions that enter the insurance account;
  • the amount of charges and deductions;
  • the investment return;
  • the technical interest;
  • the duration of the early retirement pension.

Payments from UBB PPF before pension entitlement

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Before becoming entitled to a pension from the UBB PPF, insured persons are entitled to the following payments:

  • a lump-sum payment of up to 50% of the amount accumulated in the account in case of a permanently reduced working capacity exceeding 89.99%;
  • a lump sum or deferred payment to the insured person's legal heirs - subject to the respective application of Article 3, Article 4, para. 1 and Art. 5 - 10a of the Inheritance Act.
Joining and change of participation in PPF

Choice of PPF

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The choice of pension fund is personal. Each person who is subject to pension insurance has only the right to choose which fund to be insured in. The insured person shall submit an application and a participation contract to the pension insurance company within three months of becoming liable.

If the person does not choose the pension company which will manage his/her professional pension funds within three months of starting his/her first job, he/she will be assigned administratevely to one of the professional pension funds operating in the country, where his/her compulsory professional pension contribution will be paid.


Change of participation

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Change of participation in another PPF


The right to transfer to a PPF managed by another pension insurance company arises after the expiry of 1 year after the conclusion of the insurance contract or the date of the administrative allocation.
The grounds for changing the participation and for transferring the accumulated funds of an insured person from one professional pension fund to another professional pension fund arise when:

  1. Expiry of the statutory time limits after which the person may change his/her participation in the fund.
  2. Disagreement with the changes made to the regulations on the organisation and operation of the fund. A change in the regulations resulting from a change in the regulatory framework (i.e. not initiated by the pension company itself) or a change in the registered office or registered address of the pension company is not grounds for disagreement and, respectively, for a change of the fund (Article 171(3) of the CSR).
  3. Disagreement with changes made to the investment policy of the pension fund.
  4. Conversion or dissolution of the pension insurance company or of a separate fund.

The new choice and the change of participation in the additional mandatory pension funds of UBB Pension Insurance can also be made through an electronic process, where through a qualified electronic signature and assistance from an insurance intermediary of UBB Pension Insurance, customers can sign the necessary documents - quickly, easily and securely!

Change of insurance from PPF to State Social Security's Pension Fund

It is possible to change the insurance from the PPF to the Pension Fund of the State Social Security. If you change from the PPF to the Pension Fund of the State Social Security, the 7% and 12% contributions are paid into the Pension Fund and not into an individual insurance account. The individual coefficient used to calculate the Social Security pension is not reduced for the years during which the person was insured in the PPF.


Fees and deductions

Fees and deductions

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UBB Professional Pension Fund collects the following statutory fees and deductions for its activities:

  • Contribution deduction - 3.75% of each contribution.
  • Investment fee - 0.75% per annum of the net assets of the UBB PPF depending on the period during which they have been managed by UBB Pension Insurance.

Information on fees and deductions is available in the Regulations on the organisation and operation of the UBB Professional Pension Fund.



The presentation of the products is not exhaustive as regards all their specific features and characteristics. Full information on the insurance in the professional pension fund and on the types of payments is contained in the Regulations on the organisation and activity of the UBB Professional Pension Fund.

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Universal Pension Fund UBB

In the universal pension fund the money for your second pension are accumulated. They are part of the compulsory contributions that are deducted from your salary each month by law and transferred to the National Revenue Agency (NRA) and from there to private pension funds. The funds accumulate in your personal account, which later pays your supplementary personal pension when you meet the conditions for retirement.


Voluntary pension fund UBB

Joining a voluntary pension fund is not compulsory, but it is the surest way to achieve your desired standard of living in retirement. Everyone over the age of 16 is entitled to an additional voluntary pension. Contributions to the voluntary pension fund are accumulated in your personal account and invested by the pension company so that they earn a return for the years when you will rely on them.