Bulgaria's entry into the eurozone will not create problems for the funds accumulated in the second pension pillar, assured Vladislav Rusev, vice president of the Bulgarian Association of Supplementary Pension Insurance Companies. In an interview for the program "Crossroads" on NOVA, the expert explained how the transition will proceed and how citizens can check their savings.
"The change will be very easy and automatic, as in all financial institutions. The funds in the second pillar are personal accounts and should be considered as money in a bank. Upon entering the eurozone, they will automatically be converted at the fixed exchange rate from leva to euro," Rusev said, quoted by NOVA.
The expert emphasized that the funds in the second pension pillar are legally protected. "The minimum guarantee refers to gross contributions, so people will not lose their contributions even in a severe financial crisis", he explained.
Roussev pointed out that people have significantly more than their contributions thanks to the accumulated profitability. "There are periods with negative profitability, the most severe of which was in 2008, but they were compensated by the accumulated profitability", he said.
After the COVID-19 pandemic, the situation recovered quickly. "For the last three years, the profitability of pension funds has been around 25 percent", explained Roussev. According to data, by September 2025, the funds had brought over 5 billion leva to their clients.
The expert assured that entering the eurozone would not change the investment strategy or profitability of the funds. "People have 15, 20, 25 percent of their gross contributions in savings, which is a safe option", he revealed.
Roussev advised citizens to find out about their account through the national NRA hotline or through the online services of the respective pension fund. "First, you need to find out which fund you are insured in, then the fund will provide you with information about the current amount and the accumulated yield", he specified.
According to Rusev, funds from the second pillar can be received in installments for a certain period or according to a lifelong pension model. He added that they are inherited by family members if the insured does not live to retire.
Roussev also commented on the proposals to close the second pillar. "This will not solve the problems of the National Social Security Institute. The money in the funds is the clients' personal funds and their transfer to the state pension institute will not cover the deficit in the long term. Our model is sustainable and better than many European systems," he said.
Bulgaria is preparing to enter the eurozone from January 1, 2026, which will make the euro the country's official currency. The transition affects all financial institutions, including private pension funds, in which over 3.7 million Bulgarians are insured.