Professional Pension Fund (PPF)

A fund for supplementary compulsory pension insurance, intended for individuals working under first and second category labour conditions, regardless of their year of birth. Contributions to the PPF are made by the employer and aim to provide funds for early retirement, before reaching the standard retirement age under the state pension system. Accumulated contributions are managed by a licensed pension insurance company on a capital basis through individual accounts of the insured persons and are used to pay additional lifetime or fixed-term pensions once the individual becomes entitled to such benefits under the Social Insurance Code.