Employee Benefits in Bulgaria, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Employee Benefits in Bulgaria, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Summary

The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old age, and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes.

The report provides in-depth industry analysis, information, and insights of the employee benefits in Bulgaria, including an overview of the state and compulsory benefits in Bulgaria, detailed information about the private benefits in Bulgaria, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Bulgaria.

Key Highlights

• The National Social Insurance Institution (NSSI) is responsible for managing all social security schemes in Bulgaria
• It administers mandatory social security schemes such as sickness, maternity, occupational diseases, accidents at work, disability, old age and death. All Bulgarians are covered, irrespective of whether they are employed, unemployed or self-employed
• Social protection in Bulgaria consists of a social insurance scheme, which acts as a classic contribution, non-contributory scheme, and a social assistance scheme
• In Bulgaria, employers provide voluntary and occupational pension schemes to their employees under pillar III. It is provided through voluntary pension funds (VPFs) and voluntary occupational schemes (VOCs).

Scope

This report provides a detailed analysis of employee benefits in Bulgaria -

• It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
• It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, long-term care benefits, minimum resources benefits, leave and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Bulgaria

Reasons to Buy

• Make strategic decisions using in-depth information related to employee benefits in the country
• Assess employee benefits of the market, including state and compulsory benefits and private benefits
• Gain insights into the key employee benefit schemes offered by private employers in the country
• Gain insights into key organizations governing employee benefits market, and their impact on companies