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Investment Conditions to sImprove further.
(From PARI Daily)
Byline: Nikola ABADJIEV, chairman of the Bulgarian Association of Supplementary Pension Security Companies
THE LAWS and statutory regulations are the basis for development of supplementary pension insurance. Therefore in 2005 I expect amendments to the Social Security Code that will settle some outstanding issues, such as the formation of pension reserves for payment of life pensions. The legislation can also be expected to improve towards liberalisation of the regime for pension funds' investments.
Another forecast that can be made is connected with the economic conditions. We can expect that in 2005 the taxation legislation will be enhanced. Regulations have been already adopted concerning the annual tax reliefs for people working under employment agreements. The reduction in the one-off tax due on withdrawal of amounts ...
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