The Association for of Supplementary Pension Security Companies (BASPSC) was established on 12th of September 1997 with the purpose to unite the efforts of all pension insurance companies in Bulgaria when the beginning of the pension reform in Bulgaria is set and the legal framework is built in the first years of the new activity in Bulgaria – the supplementary pension insurance. Since then, the BASPSC participates actively in reforming of the pension sector, forming and improving the legislation in the sphere of pension insurance. The nine licensed pension companies operating in Bulgaria are leading participants in these processes and actively participate with their capacity, capabilities, expertise in the implementation of pension changes, formation and improvement of legislation in the field of pension insurance. BASPSC successfully cooperates and partners with different organizations, with the regulator – CFS, MF, MLSP, the relevant Committees in the National Assembly, with trade unions and employers’ organizations.

The main goals of BASPSC are:

  • to unite and assist its members in carrying out their activities and in protecting their rights and interests;
  • to popularize, influence and assist for the development of the supplementary pension insurance;
  • to organize and coordinate the training and raising the qualification of the employees of the pension insurance companies, members of the Association.

In addition, the BASPSC is independent of political parties and organizations and takes its decisions autonomously from state institutions, in strict compliance with the mandatory provisions of applicable regulations (laws, CSS and regulations) in the interests of the pension industry and insured persons in the supplementary pension security funds.

The subject of BASPSC are all actions admissible by the law, aimed at assisting members in carrying out their activities for supplementary pension insurance and protection of their rights and interests. BASPSC assists for communication, close interaction and mutual assistance between the pension companies, agrees and coordinates the interests of its members in their activities, protects the rights and interests of its members before state bodies, public organizations and other legal entities, prepares reasoned and substantiated opinions on drafts of normative acts regulating supplementary pension pillar and others in the field of capital markets, pension insurance in the country, as well as stimulates fair competition between its members.

In BASPSC we coordinate the international relations of our members, making contacts and have representative functions with international organizations and unions.

The bodies of BASPSC are the General Assembly and the Management Board. The General Assembly of the Association is its supreme body and consists of all its members. The Management Board (MB) is a body for operational management of the Association and consists from nominated representatives – Executive Directors of all pension insurance companies. Together with the Chairman, the MB consists of 10 (ten) members, elected with a mandate of 5 (five) years by the General Assembly of the Association. The Chairman of the Association carries out the operational management of the Association, represents it officially and organizes the activity of the Management Board in the process of its work.

BASPSC is a member of the European confederation of EU (PensionsEurope), which represents unification of 24 national pension associations of pension funds from 17 EU member states and 4 other European countries. Through its member associations, PensionsEurope represents over 4 trillion pension assets for future pension payments.


BASPSC Code of Ethics (.PDF)