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BCCI: Higher tax incentives for employers who insure their employees under the second and third pension pillars

 

At the second bilateral meeting of the social partners, held at the Bulgarian Industrial Association, the discussion of proposals to the National Council for Tripartite Cooperation for amendments in the Social Insurance Code continued. Representatives of BIA, CITUB, and the Union for Economic Initiative took part in the meeting. The Bulgarian Chamber of Commerce and Industry was represented in the debates by the President of the Chamber Tsvetan Simeonov, the Secretary General Vasil Todorov and the Legal Advisor Valentina Zartova. 


A complex of measures was adopted to continue the pension reform, which was initiated with the changes proposed by Minister Ivan Neykov. The social partners agreed on proposals for enhancing the role of the NCTC and tripartite cooperation.
Tsvetan Simeonov proposed voluntary pension insurance to be stimulated normatively in order the expand the scope of persons affected by this type of insurance, and better tax incentives for employers who insure their employees under the second and third pension pillars. These objectives will be achieved after a detailed analysis of the normative base concerning the supplementary mandatory pension insurance is conducted, in order to identify the problems faced by pension funds and the persons insured in them. 


With regard to the tripartite cooperation, proposals were discussed aimed at improving the efficiency and efficacy of the tripartite councils and obligatory consultations with them on draft legislation, including draft bills introduced in the National Assembly at the initiative of MPs and related to labour and social security relations and living standards. It was suggested the Council for Tripartite Cooperation to study and apply the experience of bodies with similar structure and activities from other EU member-states with similar activities, which has never been done before. 

05.01.2012

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