A MONEY-MAKING INVESTMENT FOR FUTURE PENSIONERS
Investing in a pension fund is still still money-making according to data about the yield in the sector, announced by the press centre of the Insurance Supervision department with the Commission for Financial Supervision. For 2004 it was in the range of 8.87% and 14.36 per cent. Universal funds where about 2 million Bulgarians are insured for a second pension, offered their clients between 9.79% and 13.69% profitability. This indicator is the lowest for DSK-Rodina, and the highest for Doverie. The yield from professional funds was between 8.87% and 14.21 per cent. The most lucrative company was Doverie, and the most unprofitable - Saglasie. About 170,000 Bulgarians working in harmful labour conditions are insured for a second obligatory pension in professional funds. The yield from voluntary funds varied from 9.23% (Saglasie) to 14.36% (Doverie). Instalments for a third additional pension are made in them by about 550,000 Bulgarian citizens. The development of the pension insurance system last year was marked by two main events - the introduction of shares in keeping individual accounts, and the opportunity to transfer the accounts from one fund to another. From the point of view of insured people the daily announcement of the price per share allows each client get information about the management of his money and how its amount increases as time passes. In that way he can compare the results between the different funds on his own, without needing help from third persons. The possibility for some companies to provide manipulative information on that exceptionally important indicator for their operation, was eliminated as well.