News in branch

Switching of participation and transfer of funds of fund members from one pension fund to another in the fourth quarter and in 2008 and administratively distributed persons in 2008
23.03.2009

The Social Insurance Supervision Division of the Bulgarian Financial Supervision Commission announced the results from the switching of participation and transfer of funds of fund members from one pension fund to another during the fourth quarter and during the entire 2008, as well as the results from the four administrative distributions of persons who had not selected a supplementary mandatory pension fund (Pillar II).
A total of 23 190 fund members from all applicants in the fourth quarter of 2008 have switched their participation in the supplementary pension funds. The total amount of the funds transferred from one pension fund to another of the respective type in the fourth quarter of 2008 is EUR 29 075 thousand.
During the entire 2008, a total of 84 748 fund members have used the opportunity to switch their participation in supplementary pension funds and have transferred a total of EUR 113 647 thousand from one pension fund to another of the same type. Compared to 2007, the number of persons who have switched their participation has decreased by 9.40 per cent and the amount of transferred funds has decreased by 1.16 per cent.
In 2008, a total of 99 972 persons were distributed administratively among supplementary mandatory pension funds of which 85 872 persons were distributed to universal pension funds and 14 100 persons were distributed to occupational pension funds. Persons distributed to universal pension funds in 2008 constitute 52.21 per cent of the total number of persons (from new applications and administratively distributed persons) and 70.91 per cent – to occupational funds.

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