Krasimira Katincharova: We Demand an Audit of the Management of Pension Funds

Krasimira Katincharova announces the firm position of the parliamentary group of “Velichie” regarding the proposed changes to the pension insurance system. The deputies refuse to support the suggested legislative texts. The group agrees with the arguments of other members of parliament that last-minute legislative changes before the end of a mandate are inappropriate and unjustified.

Poor Management of Funds

The member of parliament refers to data from the National Statistical Institute and independent agencies. According to these data, pension funds are being managed inefficiently. Bulgarian pensioners are becoming increasingly poorer, even as their number grows. Their standard of living continues to decline. Katincharova criticizes the new proposals for diversification in the second pension pillar. She describes the options as a choice between high-risk losses and a slower reduction of funds. Ordinary citizens do not possess the necessary expertise to make such a complex decision.

Demand for a Full Audit

“Velichie” insists on a comprehensive review before any new legislative changes are adopted. Institutions must examine how the funds have been managed since the beginning of the pension reform. According to Katincharova, this reform has not made elderly people wealthier. Many survive only thanks to financial support from relatives abroad. Emigrants have effectively become the largest investors in the country, transferring millions of euros every month.

Suspicions of Corruption and Responsibility

Katincharova demands transparency regarding which companies manage the money of insured individuals. She expresses suspicion that these companies are closely connected to those in power and form part of a broader institutional and corruption network. The deputy also comments on the position of the “Vazrazhdane” party regarding state management of the funds. She emphasizes that the state manages many sectors, but the final outcome depends on the people in power. According to her, those governing often prioritize personal interests over the public good. Therefore, the group calls for a “clean start” and accountability before any new laws are adopted.