1. Supplementary lifetime annuity for the persons whose accumulations in the account in the UPF allow the granting of such a pension with a monthly amount of at least 15% of the minimum monthly amount of the state pension for retirement and old age.
The supplementary lifetime annuity has three varieties:
- Lifetime annuity without additional conditions - it is granted for life in the same monthly amount and is not subject to inheritance (the monthly amount of all life pensions and deferred payment is subject to updating and recalculation in the cases provided by law).
- Lifetime annuity with guaranteed payment period - is granted for life in the same monthly amount and includes a guaranteed period of 2 to 10 years (at the choice of the pensioner) during which the present value of the payments due until the end of the guaranteed period is inherited.
- A lifetime annuity, including deferred payment of a portion of the funds until the annuity client reaches an age of his or her choice - granted for life in a level monthly amount after the deferred payment period. The length of the deferred payment period should be chosen by the annuity client in such a way that the monthly amount paid is not less than 15% of the national minimum pension.
* The present value of payments due until the end of the deferred payment period shall be inherited.
Under certain conditions laid down by law (when the amount of the funds in the individual account is greater than the sum of the gross amounts of the contributions paid), each of the above three types of life pension may be paid with a guaranteed initial amount (equal to the amount of the first pension calculated on the basis of the accumulated funds in the individual account), and a risk coefficient applied.
2. Deferred payment of funds for persons whose accumulations in the PF account are not sufficient for the granting of a life pension, but exceed three times the minimum monthly amount of the state pension for retirement age. The duration of the deferred payment period is chosen by the pensioner in such a way that the monthly amount paid is not less than 15% of the amount of the minimum pension for the country.
3. A lump sum payment for persons whose accumulations in the account are below three minimum pensions for the country.*
* As of 01.07.2023 the minimum monthly amount of the state pension for retirement and old-age shall be BGN 523.04. The minimum monthly amount of the supplementary life pension from the PF is equal to BGN 78.46. Three times the minimum monthly retirement pension shall be BGN 1 569.12.