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The Bulgarian Reserve Pension Fund – Objectives And Trends

Author

Listed:
  • Hristina Blagoycheva

    (Varna University of Economics)

Abstract

The article offers a study of the administration of the Bulgarian State Fund For Ensuring The Stability Of The State Pension System (SFESSPS). The fund has been functioning since 2007 in response to the demographic crisis and in order to ensure the future stability of public pension costs in Bulgaria. In 2008 there came into force the Law of SFESSPS, according to which after 2018 the capital accumulated in the fund may already serve as a buffer for the shocks in our public pension system. There is made a comparison between the management of public pension funds in some OECD countries and that of Bulgaria. The practice of the majority of pension funds around the world is flexible management, diversification of investment portfolios and the achievement of high yield. Currently in Bulgaria there is observed passive management of assets, lack of diversification and unduly low profitability. Having in mind the significance of the fund, there is proposed a change in the way it is being administered.

Suggested Citation

  • Hristina Blagoycheva, 2011. "The Bulgarian Reserve Pension Fund – Objectives And Trends," Business & Management Compass, University of Economics Varna, issue 1, pages 84-96.
    • Handle: RePEc:vrn:journl:y:2011:i:1:p:84-96
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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