On January 12, 2022 BASPSC Took Part in the Sitting of the Committee on Labor, Social and Demographic Policy of the National Assembly

On behalf of the Managing Board of BASPSC, Ms. Evelina Miltenova, Chairwoman of BASPSC, attended the meeting of CLSDP, which introduced the team of the Minister of Labor and Social Policy, which answered current questions from deputies.

BASPSC supported, on behalf of the supplementary pension insurance companies, the presented draft legislation for discussion submitted by the Council of Ministers on December 7th, 2021, Covered Bonds Draft Law, № 47-102-01-7” in view of the need to bring the Bulgarian legislation in line with the requirements of EU Directive 2019/2162.

Based on the new Law on Covered Bonds, credit institutions in Bulgaria will be able to issue covered bonds as low-risk instruments with a high degree of public oversight, for which a legal framework is created to foster the investments in secured fixed income instruments of major institutional investors such as the universal pension funds (UPF) and the Supplementary Voluntary Pension Insurance funds (VPF) and others.

The draft law was adopted at the first vote by the CLSDP.