Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Retirement Funds 'Nationalization' Enters Bulgarian Constitutional Court
Date: 22/12/2010
Retirement Funds 'Nationalization' Enters Bulgarian Constitutional Court

Some texts of the Social Security Act will be challenged in the Bulgarian Constitutional Court, the right-wing Blue Coalition announced Wednesday.

The Coalition is joined by the left-wing Bulgarian Socialist Party (BSP), the ethnic Turkish party Movement for Rights and Freedoms (DPS) and several independent Members of the Parliament, who want the texts declared anti-constitutional.

The co-Chair of the Blue Coalition, Ivan Kostov, announced they have been able to collect 52 signatures in less than an hour.

The text in question allows the private retirement social security funds of employees to be transferred to the retirement fund of the National Social Security Institute (NOI). The rightists say this leads to an unacceptable termination of contracts between the insurance funds and the insured workers.

The transferred amount is estimated at BGN 100 000 M.

Kostov insists there were dishonest insurers who failed to deposit the funds as required by law to the individual policies accounts with the silent approval of the labor unions while the transfer of these accounts to NOI now is a cover up for the above said insurers.

The other Blue Coalition co-Chair Martin Dimitrov, added people must be given the right to decide themselves if they want their insurance contributions to be deposited in private funds or in NOI.
Meanwhile 52 MPs from BSP and DPS submitted a claim to the Constitutional Court regarding amendments to the Film Industry Act which provide subsidies for up to 7 motion pictures, 14 documentaries and 160 minutes of animation and only "if there is a possibility" in budget 2011 for it.

The BSP MP, Lyuben Kornezov, pointed out these amendments are the work of 4 MPs from the ruling Citizens for European Development of Bulgaria (GERB) party, who have nothing to do with filmmaking and have been passed through one read, even though the Constitution says there must be two reads in order to pass a Bill.

Topic: Financial

Featured District
Invest Bulgaria Charts
FDI as Percent of GDP in Bulgaria
FDI as Percent of GDP in Bulgaria

Tax Revenue of Bulgaria
Tax Revenue of Bulgaria

See all charts
Did You Know?
Bulgarians Abroad
Bulgarians Abroad
More than 100,000 Bulgarians live in Chicago ... More

Pazardjik is situated in South Bulgaria, in the central part of the Higher Thrace valley, on the north of the Rhodope mountain, at the two banks of river Maritsa. The both sides of the river Maritsa and its feeders have been formed to a low, but not widely flowed ledge. Here are the best alluvial soils of the field.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2020 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.

SEO оптимизация Bulgaria Translation Bulgarian Agriculture Bulgarian Textile Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.

Our Featured Members