To
PENSION INSURANCE COMPANY
DOVERIE AD
(name of the pension insurance company managing the
General Pension Fund the person wishes to be insured with)
Application
For Participation in a General Pension Fund
Forename ...... Patronymic ...... Surname ......
Standard Public Registry Personal Number□□□□□□□□□□, Identity Card No□□□□□□□□□
Issued on ……………………………….…………. by ……………………………….………………………………………….……
Regular address: Region ……………………………, Municipality ………………………………….Postal Code□□□□
Town/village……………………………………………………, Housing Estate ……………….……………..……..………………………………………...
Street ………………………………..………No ………… Block………., Entrance……., Floor…, Apt….…, Telephone…………………………...
I hereby declare that I wish to be insured with General Pension FundDOVERIE
(name of the fund printed or written)
Managed byPension Insurance Company Doverie AD
(name of the pension insurance company, printed or written)
- I am aware that in case of submission of more than one application I shall be subject to official distribution to one of the registered general pension funds according to the order and procedure determined by the National Revenue Agency and the Financial Supervision Commission.
- I pledge myself that within a period of one month I shall inform the pension insurance company about any changes in my personal data.
Date: ………………….Signature: ………………………
Please, do not complete before reading the instructions on the back!
C O N T R A C T
FOR SUPPLEMENTARY MANDATORY PENSION INSURANCE WITH DOVERIE GENERAL PENSION FUND
№ ......
Entered into on ……. …………. by and between:
PENSION INSURANCE COMPANY DOVERIE AD, with registered office in Sofia, 5 Dunav Str., registered in Sofia City Court, file No 9023/1994, tax registration No 2221063247, BULSTAT Ю 831190986, pension license No 01/21.09.2000, represented by Daniela Panova Petkova, hereinafter referred to as the Company, managing DOVERIE GENERAL PENSION FUND, registered in Sofia City Court, file No 610/13.02.2001, BULSTAT 130474628, identification code at NSSI 012, on the one part
And
………………………….……………………………………...... , PIN …………….…………...... , BULSTAT ………………………….., personal identity card № ……...... , issued by …………………………...... , town………………. on………………....,
Regular address:….…………….……….…….,p. c.…………...,district …………………….… res. distr./str./blvd …………………………..……No …….,bl. ……….entrance……., floor…, apt…, tel.………..../………………..., mobile tel. ……………………..., e-mail:…………......
Current address….………..…….……….……., p. c. …………..., district …………………….… res. distr./str./blvd …………………………..……No ……., bl. ……….entrance……., floor…, apt…,
Who filed individual application for participation №...... of...... (formally distributed by protocol № ...... of...... )
hereinafter referred to as the INSURED PERSON, on the other part
The parties hereby agree as follows:
І. SUBJECT OF CONTRACT
Art.1. (1) The subject of this contract is supplementary mandatory pension insurance with Doverie General Pension Fund (Doverie GPF) for a supplementary lifelong old-age pension.
ІІ. EFFECTIVENESS AND DURATION OF THE CONTRACT
Art.2. This contract becomes effective on the date of its signing, after its registration at the National Social Security Institute (NSSI), and is not time limited.
ІІІ. INSURANCE CONTRIBUTIONS
Art.3. (1)Insurance with Doverie GPF shall be performed through cash monthly contributions the amount of which shall be determined with the State Social Security Budget Act for the respective year.
(2) The insurance contributions under para 1 are collected by NSSI.
(3) The insurance contributions under para 1 shall be transferred by the insurance contributors to a special account for supplementary mandatory pension insurance of NSSI, which shall within 30 days from the date of receipt transfer the funds to an account of Doverie GPF indicated by the COMPANY.
(4) The COMPANY shall be held responsible before the INSURED PERSON only for insurance contributions actually transferred by NSSI to the account of Doverie GPF.
(5)The contributions to Doverie GPF shall be divided between the insurance contributor and the INSURED PERSONin the same ratio as those for the state social security pension fund.
(6) The self-insured persons shall be insured in Doverie GPF entirely at their own expense.
(7) Insurance contributions to Doverie GPF shall be made on the income on which social insurance contributions are owed for state social insurance, excluding Art. 9, para. 6 and 7 of the Social Insurance Code (the Code) and § 9, para. 2 and 3 of the Code.
ІV. RIGHTS DERIVING FROM PARTICIPATION IN DOVERIE GPF
Art. 4. Insurance with Doverie GPF gives the right to:
1. a supplementary lifelong old-age pension, as follows:
а) when the INSURED PERSON becomes eligible for old age and length of service pension under the conditions Part I of theSocialInsurance Code;
b) uponcompletionoftheretirement ageunderArt.68, para.1 – 3 of the Code, for persons eligibleforoldageandlengthofservicepensionunderArt. 69 ofthe Code, excludingpersonsunderArt.127, para.5 thereof.
2. If the INSURED PERSON wishes so, Doverie GPF may pay a supplementary old age pension for life five years prior to the eligibility for old age and length of service pension under Art. 68. para. 1 - 3, provided that the amount accrued in the individual account allows granting of a pension, which is not smaller than the minimum pension for old age and length of participation under Art.68, para 1 – 3 of the Code, as of the time of granting.
3. a lump sum payment amounting to up to 50 per cent of the amount accrued in the individual account in case of permanently lost capacity over 70.99%;
4. alump-sumorrescheduledpaymentoftheassetsontheindividualaccount of the INSUREDPERSON, if s/he has become eligible for a supplementary lifelong old-age pension, but the calculated monthly amount of the pension as of the time of retirement is smaller than 20 per cent of the social pension for old age under Part I of the Code as of the same date;
5.lump-sumorrescheduledpaymentoftheassetsontheindividualaccount to the survivors of the INSUREDPERSON - widow/widower, descendants and antecessors, in compliance with the succession order and the proportions according to the Inheritance Act;
6. lump-sumorrescheduledpaymentoftheremainder of the assetsontheindividualaccount to the survivors of a PENSIONER - widow/widower, descendants and antecessors, in compliance with the succession order and the proportions according to the Inheritance Act.
V. TERMS AND CONDITIONS FOR PAYMENT OF SUPPLEMENTARY LIFELONG PENSIONS FOR OLD AGE AND OF LUMP-SUM OR RESCHEDULED PAYMENTS OF THE ASSETS IN THE INDIVIDUAL ACCOUNT
Art.5. (1) The supplementary lifelong old-age pension shall be granted when the INSURED PERSON has met the conditions of Art.4, item 1 or 2, based on a submitted application form per sample of the COMPANY.
(2) Supplementarylifelong old-age pensionshallbegrantedfromthedate theINSUREDPERSONbecame eligible for the pension, provided that the application form with the required documents according to Chapter Eight of the Regulations of the Organization and the Activity of Doverie GPF (the Regulations) was submitted with the COMPANY within a period of 6 months from the date of eligibility.
(3)Incasetheapplicationformandthedocumentsweresubmittedaftertheperiodspecifiedinpara2, thesupplementarypensionshallbegrantedfromthedateonwhichtheapplicationwasregisteredintheCOMPANY.
(4) In order to receive a supplementary lifelong old-age pension the INSURED PERSON shall conclude a pension contract with the COMPANY, where the order and the manner of pension payment shall be settled.
Art.6. (1) In the cases of Art.4, items 3 – 6 the lump sum or the rescheduled payment shall be made on basis of an application form per sample of the COMPANYfiled by the INSURED PERSON, his/her survivors or survivors of a pensioner.
(2) The lump-sum or rescheduled payment shall be made within 3-months term from the date of filing the application together with the necessary documents as specified in Chapter Eight of the Regulations.
(3) In the cases of Art.4, items 3 – 6 when the INSURED PERSON, respectively his/her survivor or a survivor of a pensioner decides to receive the assets in the individual account by rescheduled payment, a contract for rescheduled payment shall be signed per sample of the COMPANY, where the terms and conditions of the rescheduled payment shall be settled.
(4) The assets in the individual account or the part thereof due to the survivor shall be paid by rescheduled payment provided that the calculated amount is at least 20 per cent of the amount of the social pension for old-age under Part I of the Code as of the time of the first payment.
(5) The period between the rescheduled payments shall not be shorter than 2 months.
VІ. RIGHT TO TRANSFER THE ACCUMULATED AMOUNTS IN THE INDIVIDUAL ACCOUNT
Art.7. (1) The INSURED PERSON shall have the right to transfer the amount accumulated in the individual account from the Doverie GPF to a fund of the respective type managed by a different pension insurance company provided that two years have passed from the date of his first insurance contract or from the date of formal distribution to the fund after the insurance obligation has occurred.
(2) Apart from cases under para 1, the INSURED PERSON shall have the right to transferthe individual account accumulations from theDoverie GPF into another fund of the respective type, managed by a different pension company after the expiration of one-year period from the date of concluding the insurance contract.
(3) TheINSURED PERSON shallhavetherighttoswitchparticipationwithoutlimitationsincaseofdisagreementwithamendmentsthathavebeenintroducedtotheRegulations, ifshe/hefilesanapplicationtothisendwithinthreemonthsfromthenotificationunderArt.59, para 3 of the Regulations, unlessthoseamendmentsderivefromamendmentsinthelegislation.
(4) Switching participation and transferring the individual account accumulations from Doverie GPF into another fund of the respective type, managed by a different pension company shall take place according to the terms and conditions provided for in Ordinance№ 3 of September24th 2003ofthe Financial Supervision Commission (the Commission) and in Chapter Nine of the Regulations.
VІІ. ORDER AND MANNER OF RECEIVING INFORMATION
Art.8. (1)ByMay 31, every calendar year the COMPANY shall send to the INSURED PERSON, free of charge, a statement of his/her individual account with data as of December 31 the previous year in a standard form approved by the deputy chairperson of the Commission, containing the information under Art. 25, para. 2 of the Regulations.
(2) Besides the cases under para. 1 a statement of the individual account is presented free of charge on:
- request of the INSURED PERSON or his survivors, containing data about the period from the beginning of the current year until the day preceding the day on which the request was submitted – within 30 days from the date of the receipt of the written request in the COMPANY;
- transfer of the accrued assets in the individual account into a general pension fund managed by another pension company, containing data about the period from the beginning of the current year until the day preceding the day on which the transfer was made – together with the transfer of the assets to the account of the other general pension fund, under the provisions of Art. 8, para. 5 of Ordinance № 3 of 24.09.2003 of FSC.
Art.9.TheCOMPANY shallnotify the insured persons of amendments introduced to the Regulations on the structure and operations of the general pension fund in person or through a publication in two central daily newspapers within one week following the receipt of the decision of the deputy Chairman of the Commission.
VІІІ. RIGHTS AND OBLIGATIONS OF THE PARTIES
Art.10. (1) The COMPANY shall:
1. perform all necessary activities concerning supplementary mandatory pension insurance of the INSURED PERSON in accordance with the provisions of the legislation in force, the Regulations and this Contract;
2. register in the individual account of the INSURED PERSON all insurance contributions paid for him/her to Doverie GPF in their exact amount after deduction of the fee provided for in para 2, item 1.1;
3. invest the assets accrued in the individual account of the INSURED PERSON in conformity with the effective laws and regulations;
4. distribute on the individual account of the INSURED PERSON the yield upon investment of the assets thereof;
5. not redistribute assets from the individual account of the INSURED PERSON to other individual accounts in Doverie GPF;
6. within 30 days from the receipt of the first monthly contribution, issue to the INSURED PERSON a registration card per approved sample with his/her personal insurance number;
7. not present to third parties the information available to it about the INSURED PERSON or his/her survivors;
8. at his/her request, present to the INSURED PERSON a certified copy of the Regulations;
9. perform any other action arising from active legislation, the Regulations and the conditions of this Contract.
(2) The COMPANY has the right to:
1. charge fees and make deductions, as follows:
1.1. a fee of 5 per cent from every contribution made to Doverie GPF;
1.2. an investment fee of 1.0 per cent annually on the net asset value of Doverie GPF, depending on the period during which they have been managed by the COMPANY;
1.3. a fee amounting to BGN 20 (twenty) for transfer of individual account accumulations from the Doverie GPF to a fund of the respective type, managed by a another pension company, excluding the cases under Art.7 (3).
2. the fee under item 1.1. shall not be charged on funds transferred from another general pension fund;
3. require from the INSURED PERSON to present identification documents and other documents necessary in connection to insurance with Doverie GPF or to pension granting or the lump-sum or rescheduled payments.
Art. 11. (1) The INSURED PERSON shall be obliged to inform in due time the COMPANY about changes in his/her personal data, place of employment, as well as other circumstances relevant for the fulfillment of this contract.
(2) The INSURED PERSON, besides the rights mentioned above, shall have the following rights:
1. to lodge an appeal against decisions of the Board of Directors or actions of the Chief Executive Officer of the COMPANY, violating his/her rights, under the terms and conditions of the Regulations. The decisions of the Board of Directors may be appealed against in court;
2. to report to the Chief Executive Officer about errors, negligence and disloyalty on the part of the sales agents, as well as about breaches of the Regulations by employees of the COMPANY;
3.to report tothe Board of Trustees of Doverie GPF and the Financial Supervision Commission about malpractices in the activity of the COMPANY.
ІХ.AMENDMENT AND SUPPLEMENTATION, AND TERMINATION OF CONTRACT
Art.12. (1) Amendments and supplementations to this contract shall be made by an additional agreement in writing, signed by both parties.
(2) Proposalsforamendmentsandsupplementationsofcontractshallbemadetotheotherpartyatleast 45 workingdaysbeforetherequired date to become effective.
Art.13. (1)The insurance contract cannot be terminated unilaterally by the COMPANY.
(2) The contract shall be terminated in the following cases:
- When, under the provisions of Ordinance № 3 of September24th 2003 of FSC and Chapter Nine of the Regulations, the INSUREDPERSON has concluded a contract with another pension insurance company managing the respective fund to which the person has filed application for switching participation and transferring of the total amount accumulated in his personal account in Doverie General Pension Fund – from the date the contract is concluded.
- Upon demise of the insured person – from the date of the demise.
- Upon conclusion of a pension contract with the insured person or a contract for rescheduled payment of the whole amount accumulated on the individual account – from the date of the pension contract or the rescheduled payment contract.
- In case of lump sum withdrawal of the entire amount accrued in the individual account of the INSUREDPERSON, in the cases of Art.4, item 4 – from the date of the lump-sum payment.
Х. OTHER PROVISIONS
Art.14. Applicable for issues that are not expressly provided for in the current contract shall be the Social Insurance Code, the other Bulgarian laws regulating issues related to supplementary mandatory pension insurance and the Regulations.
Art.15.Changes in the effective laws and the secondary legislation that have imperative character and refer to issues settled within this contract, as well as amendments to the Regulations of the COMPANY published according to the respective order, become part of the contract from the date they come into force without needing additional agreements.
Art.16.By signing this contract the INSURED PERSON certifies that s/he
got acquainted with the Regulations on …………………….
received a copy of the Regulations on……………………..
and is informed that at his/her request s/he may get acquainted, respectively receive a copy of the Regulations after every future amendment to it.
This contract was concluded and signed in two uniform copies, one for each party.
FOR THE COMPANY: INSURED PERSON:
…………………………………...... ………………………….
/full name, signature, seal/ /signature/
INSTRUCTIONS FOR COMPLETION OF THE APPLICATION
- General instructions
All persons born after the 31st day of December 1959 shall be compulsorilyinsured for a supplementary pension at a general pension fund, provided that thesaid persons are insured under the terms and according to the procedure establishedby Part One of the Social Insurance Code.
Every person subject to supplementary mandatory pension insurance may participate in only onegeneral pension fund. Any persons, who have submitted more than one application for participation in general pension funds managed by different pension insurance companies shall be considered as having notchosen a concrete general pension fund and shall be shall be allocated on a non-discretionary basis to one of the registered general funds in a manner and according to a procedure established by the National Revenue Agency and the Financial Supervision Commission.
Persons whose submitted applications are irregular in the meaning of INSTRUCTION No 1 of 2006 on the Order and Procedure for Official Distribution of Persons, having Chosen no Supplementary Mandatory Pension Insurance Fund shall also be officially distributed.
The personal application shall be submitted to the pension insurance company managing the chosen supplementary mandatory pension fund. When the application is submitted through an insurance intermediary, the latter shall present an identification document authorizing him to perform the activity of accepting applications for participation and concluding insurance contracts on behalf and on the account of the respective company.
- Requirements for filling out the application
- The application form shall be filled out legibly, preferably in print, sticking to the outlines of the text