Central Cooperative Bank and POAD CCB Sila jointly offer flexible combined products in the field of banking and insurance business under the best market conditions.

A contract for supplementary pension insurance and services of the customers of POAD CCB-SILA can be concluded in all branches of the Bank.

Universal pension fund

The persons born after 31 December 1959 and insured for pensions with NSSI, have to choose a universal pension fund for supplementary mandatory pension insurance. The right to independent choice is guaranteed by law.

The fund will pay a second life pension in addition to the state pension. The social security contributions to the universal fund are part of the mandatory pension contributions to the NSSI and do not increase the social security burden for both the person and the employer.

The contributions to the Universal Fund are made on an individual account of the insured person and interest accrue thereon depending on the profitability of their management.

The accumulated funds in the insured person’s individual account are personal and subject to inheriting.

Voluntary pension funds

The payment of contributions to CCB-Sila Voluntary Pension Fund guarantees the receipt of a voluntary pension, independent of the pension, received from the NSSI. Contributions to the Voluntary Fund may be made at the expense of the person and/or his/her employer. The voluntary pension contributions benefit from significant tax incentives. The contributions for supplementary pension are deposited on individual accounts. Interests accrue thereon depending on the yield achieved in their management.

The accumulated funds in the insured person’s individual account are personal and subject to inheriting.

Personal contributions

For voluntary insurance with individual contributions, the amount of the contributions is determined by the insurer and can be changed at any time, unilaterally and upon its decision. The amounts that individuals make for additional voluntary pension insurance, up to 10 per cent of the taxable income, are not subject to income tax. This tax relief also applies to persons receiving management and control income, sole traders, notaries, private medical practitioners or members of the professions.

For employers

CCB offers you the option to sign a voluntary pension insurance agreement for your employees at POAD CCB - Sila.

In addition to the social effect for your staff, the voluntary pension insurance enables you to take advantage of the preferences provided by tax law. The employers' contributions for additional voluntary pension insurance up to BGN 40 per month for each employee are accounted for as operating expenses and deducted from the taxable profit.

The pension scheme can be implemented in the option you choose to suit your financial capabilities and your social policy. The following options are available:

·         providing insurance to all employees at the expense of the company at a rate of insurance contribution determined by you;

·         differentiated insurance tailored to the responsibility and the difficulty of the work performed and according to the personal contribution of the insured person for the development of the company;

·         differentiated insurance depending on the remaining years until retirement;

·         assistance by you for additional voluntary pension through personal contributions of the willing employees.


Occupational pension fund

The first and second category workers are mandatory insured in a professional pension fund.

The contributions to the fund are borne by the employer in full. The occupational fund pays a fixed-term pension for the early retirement years. For those years, the insured person will only receive a pension from the occupational fund.

The pension from the National Social Security Institute will be paid when the retirement requirements for the third category of labour are met.

The funds of the insured persons who by 31/12/2009 have opted to receive a pension for the years of early retirement from the National Social Security Institute will be transferred from the occupational pension fund to the Pensions Fund at the National Social Security Institute.

The accumulated funds in the insured person’s individual account are personal and subject to inheriting.

Useful information

Why should I conclude the contract in CCB offices?

When you conclude a pension insurance contract in a CCB office, you are entitled to the following advantages:

·         You use one-stop banking, insurance and social security services;

·         CCB AD does not collect fees and commissions for voluntary social security contributions of individuals;

·         Option for preferential conditions for the use of the products and services of CCB AD and Armeec Insurance Company.

Link to the website of CCB-Sila: www.ccb-sila.com