Банкеръ Weekly

Briefs

ALMOST 17,000 PEOPLE CHANGED THEIR PENSION FUND IN Q2

16,930 Bulgarians changed their fund for additional pension insurance in the second quarter of 2006, according to data of the Insurance Supervision Department at the Financial Supervision Commission (FSC). This is some 32% increase from the first quarter of the year. The aggregate amount of money transferred from one into another fund in Q2 is BGN6,290,000.
From the beginning of 2006 till June 30 a total of 30,960 insured people took advantage of the right to change their participation in the funds for additional pension insurance and transfer money from their individual accounts. The amount of transferred funds totals BGN12,478,000. However, that is a 22% drop from the same period of last year.
The relative share of refusals for changing the fund has considerably decreased. Complains at the FSC about violations when submitting applications, filed by insured people, have tangibly decreased, too. While they were 426 in the January-August 2005 period, now they are only 37.

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