FUNDING

The activity of the NUWPC is financed mainly by membership fees , supplementary incomes from other activities , subsidies and donations .In pursuance of the provisions in the Statutes, the NUWPC forms finds for mutual aid, qualification and international collaboration, investments etc.

FINANCIAL INFRASTRUCTURE AND SOCIAL INSURANCE

The formation of the financial infrastructure of the NUWPCB is a key point of its development in the conditions of market-oriented economy.Its aim is the co-operative structure to serve the co-operatives in the financial and investment spheres- a real base for the economic independence.

The infrastructural base of the NU has been laid by the establishment of MKP Daga ; the Privatization fund cooperator, later transformed into the holding Cooperator Inc; the Bulgarian Mutual Insurance co-operative; the Voluntary pension Fund Cooperator Inc.

MKP Daga has strengthened its positions as an insurance mediator with its statute of an agency.It offers the co-operators all kinds of insurance Property.In parallel with the insurance process MKP Daga has set up an information and consultation centre offering a great variety of services in the sphere of the business planning , investment financing , deals with securities.During the second stage of the mass privatization MKP Daga is an investment mediator of the national Union.MKP Daga assures professional management of the investment bonds and gives financial aid to the cooperators for the buying of the bonds.The establishment of the Privatization Fund Cooperator Inc. was an important step towards the organization of the NUWPCB and the co-operatiors in the process of the mass privatization.The privatization fund has realized this participation by the investment of stakes and shares of companies included in the privatization program with investment bonds.The capital of the Privatization Fund Cooperator was distributed into 5676 shares .These shares come from companies connected with the NUís activities.The most important factor for the companiesí selection was the connection of the co-operatives with the raw material base and the technological processes of the enterprises announced for privatization.In accordance with the requirements of the law in 1998 the Privatization Fund Cooperator was transformed into a Holding.

The main goal of the holding Cooperator Inc. is by means of good management of its shares and the investment  in securities to bring incomes to all shareholders of the company.

The supplementary social insurance is a basic element in the social insurance system in the world and it is regarded as the third column of the Bulgarian insurance system .The NUWPCB is the main founder of the voluntary Pension fund Cooperator Inc.giving opportunities for additional pension insurance.With the establishment of the Pension Fund the co-operative system has been prepared to meet the forthcoming changes in the insurance system.By the means of the Pension Fund the co-operators have the opportunities to participate in the privatization process and to ensure additional pensions by investment counterfoils.

The Bulgarian Mutual Insurance Co-operative , established in 1998, comprises one more sphere from the general co-operative insurance- the insurance Life.The insurance Co-operative has got a license for the combined insurance  Life.The Co-operative is one of the sixth Bulgarian insurance companies that have included the insurance Life in their activities.

The foundation of the Voluntary Fund Professional Qualification and Unemployment is in prospect.The establishment of this Fund will be better protected in case of unemployment.A sum of money will be accumulated for future expense for education.
  







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Bulgaria
1000 Sofia
11 , Dondukov blvd. 
  

Tel.359 2 987 97 00
359 2 980 59 45
Fax:359 2 87 03 20
 E-mail: uniontpk@mbox.infotel.bg