Democratic Bulgaria will begin political consultations with all parliamentary groups in the National Assembly on Monday, seeking support for its “Future Account” proposal. This was announced to the media in the parliamentary corridors by Yordan Ivanov, deputy chairman of Democrats for a Strong Bulgaria.
The bill provides for the state to deposit €1,000 into a personal investment account for every Bulgarian child born on or after January 1, 2027. The funds will be invested in global markets for 60 years. Under the proposal, they will be exempt from enforcement and may not be subject to seizure.
Ivanov said that following yesterday’s dispute over the funds in the second pension pillar, the proposal had acquired even greater significance. He criticized what he said was the governing parties’ intention to access the money in individual pension accounts. Ivanov stressed that under the bill’s concept, the funds in the “Future Account” would be protected, and the finance minister in the cabinet he called the “Government of Lies” would not be able to dispose of them.
The proposal is inspired by models in the United States, Greece and Germany. The aim is for the accumulated funds to provide financial support to Bulgarian citizens and their families after they reach the age of 60.