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Home / bulgaria / Savings for second retirement finally exceed 3000 leva – 【Business News】 the latest financial news and foreign exchange market

Savings for second retirement finally exceed 3000 leva – 【Business News】 the latest financial news and foreign exchange market


The average amount of accumulated funds for the second pension finally exceeds 3,000 BGN. As of March 31, 2019, there were an average of 3147.48 levies in the accounts of people born after 1959, according to statistics from the Financial Supervisory Commission. However, this optimistic news only applies to men, where the average amount of funds collected is almost BGN 3300 (BGN 3299,56). Women close, but still below the 3000 leva limit with 2986.02 leva, according to Sega.

People who retire first with two pensions – Bulgarians aged 55-59 years, have around 4000 retributions in their bills. Men in this age category have collected an average of 3971.38 BGN and women – 3884.54 BGN. However, it is clear what future retirees will do to this amount. Expectations of experts are that retired first cohorts of reform have a minimum number of second pillars, and recently at a conference on this issue there was also concern that the first years would be accompanied by great dissatisfaction. It is known that many lots are empty – they have been made for several reasons, but there is no regular money. New forms of work as part time, and so on. also causes a low amount.

Against this background, the social ministry has not issued a draft law that should regulate the retirement phase from the second pension. According to the turnover for a year, universal funds will guarantee the second minimum pension amount. Payments will be made possible during the validity period or past time, and choices are limited based on the number in the group. In other words, the first retirees may not have a choice because they will not make a living for them.

After a bad 2018, when there are negative returns, universal pension funds improve their performance. All funds have successfully achieved positive returns over the past 24 months, data shows on March 29 each year. For the period 31 March 2017 – 29 March 2019, the results of the weighted average of the nine funds are 1.36% at 0.96% for the previous period at the end of 2018.

Two funds have even surpassed 2%, according to figures at the end of the first quarter of 2019. "Saglasie" has 2.27% on an annual basis over the past 24 months, and "Toplina" reaches 2.25%. Doverie, which holds the largest market share, has 1.25%, DSK Rodina -1.73%, En-PFP -1.39%, CCB-Sila and UPF-Future has 1.80%. Less than 1% is Allianz Bulgaria with 0.24% and UPI UP with 0.32%.


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