Political Risks and Prospects for Strategic Development of the Funded Pension Pillars in Bulgaria

The study illustrates and analyses the main problems and political challenges faced by the funded pension pillars in Bulgaria. It is motivated by the specific direction of the pension debate, which resumed in the country and by the recent reform attempts that contravene the multiplier design and complementary balance between the solidarity and funded approaches of meeting the retirement risk. Approaches on which the new pension model was developed after 1999. The main goal of the study is to put under critical analysis and evaluation the development and the leading problems of the funded pension pillars in Bulgaria and to discuss possible reform steps and directions for their future evolution.