This information is intended for clients of the funds managed by \u201ePAC DallBogg: Life and Health\u201c and aims to raise awareness about the process of introducing the euro in the country<\/p>\n
In accordance with Regulation (EC) \u2116 974\/98 of the Council of the European Union, as of the date of introduction of the euro in the Republic of Bulgaria, the currency of the country is the euro.<\/p>\n
On the date of introduction of the euro \u201ePAC DallBogg: Life and Health\u201c will convert the amounts in levs into euros in the individual accounts of insured persons, in the analytical accounts of persons receiving deferred payments, in pensions granted, and in other payments.<\/p>\n
Conversion rule<\/strong><\/p>\n The conversion represents a change in the currency unit from levs to euros, applying the official exchange rate and the rounding rules established in the Law on the Introduction of the Euro in the Republic of Bulgaria.<\/p>\n The official exchange rate of the lev to the euro is the irrevocably fixed exchange rate of the lev to the euro (1 euro = 1.95583 levs), as defined in the Regulation of the Council of the European Union, adopted in accordance with the Treaty on the Functioning of the European Union.<\/p>\n The conversion from levs to euros is performed by dividing the numerical value in levs by the full numerical value of the official exchange rate, expressed in six digits with all five digits after the decimal point. The official exchange rate shall not be rounded or abbreviated when performing the conversion.<\/p>\n Rule for rounding shares<\/strong><\/p>\n The value of one share in euros of a supplementary pension insurance fund, valid for the first working day from the date of introduction of the euro in the Republic of Bulgaria, shall be calculated by converting the net asset value of the fund in levs at the end of the previous working day in accordance with the conversion and rounding rules adopted in the Law on the Introduction of the Euro in the Republic of Bulgaria and dividing it by the total number of shares in the fund at the end of the same day. The values of the shares shall be rounded to the fifth decimal place in accordance with the following rules:<\/p>\n When using the values of a share in a supplementary pension insurance fund valid prior to the date of introduction of the euro in the Republic of Bulgaria, a conversion from levs to euros shall be performed by dividing the value of one share by the full numerical value of the official exchange rate and rounding the resulting value to the fifth digit after the decimal point.<\/p>\n <\/p>\n Rule for rounding amounts<\/strong><\/p>\n After conversion, amounts shall be rounded to the second decimal place based on the third decimal place in accordance with the following mathematical rounding rule:<\/p>\n When the National Revenue Agency transfers social security contributions for supplementary mandatory pension insurance to the pension insurance company, relating to months prior to the introduction of the euro in the Republic of Bulgaria, they shall be calculated in accordance with the provisions of the Social Security Code and converted in accordance with the Law on the Introduction of the Euro in the Republic of Bulgaria.<\/p>\n <\/p>\n Obligation for dual display when providing financial services<\/strong><\/p>\n \u201ePAC DallBogg: Life and Health\u201c shall display dual currency in euros and levs:<\/p>\n <\/p>\n Access to information<\/strong><\/p>\n Within one year of the date of introduction of the euro in the Republic of Bulgaria, each client of the funds managed by \u201ePAC DallBogg: Life and Health\u201c shall be entitled to receive information on the monetary values in levs of individual accounts, analytical accounts, as well as the amount of pensions and other payments as at the date of conversion. The information is provided free of charge within 7 days of the request, which you can submit at the company’s office or by email: info@dallbogg.bg.<\/p>\n Contractual relations<\/strong><\/p>\n The introduction of the euro does not change the effect of contracts concluded with \u201ePAC DallBogg: Life and Health\u201c with references to the lev or with references to the lev. The amounts specified in levs in existing legal instruments shall be considered amounts in euros when applying the official exchange rate and the rules for conversion and rounding.<\/p>\n The terms specified in the concluded contracts shall remain in force. The introduction of the euro shall not release any of the parties from their commitments, nor shall it provide grounds for unilateral amendment or termination of the contract.<\/p>\n","protected":false},"excerpt":{"rendered":" This information is intended for clients of the funds managed by \u201ePAC DallBogg: Life and Health\u201c and aims to raise awareness about the process of introducing the euro in the country In accordance with Regulation (EC) \u2116 974\/98 of the Council of the European Union,…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-18044","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n\n
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