25 Aug The second pension should exceed the first pension: Here’s how
Quite realistically, the amount paid under the second pension, other things being equal, such as the pensionable period and the amount of contributions, could exceed the amount paid under the first pension. The creation of second and third pillar pensions also has this objective – by making the additional funds collected – compulsorily or voluntarily – available for management by professional fund managers, who are expected to invest far-sightedly and provide higher returns for pension beneficiaries. In other words, “you will know them by their returns” – this is the global criterion for selecting and evaluating supplementary pension funds. One obvious example in Bulgaria:
“DallBogg: Life and Health” Pension Assurance is the newest licensed participant in the pension insurance market and has only been operating for a year and a half. Despite the short period, as of 30 June 2023 (first half of the year), the company has won the trust of more than 16,000 insured persons in its three funds: Universal Pension Fund, Occupational Pension Fund, Voluntary Pension Fund.
Precisely because it was created to provide higher second pensions to its trusted depositors, the company invests the accumulated funds in the individual accounts of insured persons with great care and advanced market and financial expertise. In compliance with all regulatory requirements and with constant attention to geopolitical, macroeconomic and investment developments, the fund managers at DallBogg Pension Insurance have achieved remarkable results for a Bulgarian company on the world stock exchanges.
According to the website of the Financial Supervision Commission, for the period from 01.01.2023 to 30.06.2023. The company reported an impressive positive return on assets under management of the Universal Pension Fund “DallBogg: Life and Health” in the amount of 6.83%, the Occupational Pension Fund “DallBogg: Life and Health” in the amount of 6.53% and the Voluntary Pension Fund “DallBogg: Life and Health” in the amount of 5.75%.
As of 30.06.2023, a significant growth is also observed in the net assets of the funds managed by the Company, according to the statistics published by the FSC. According to the disclosed data, the net assets of the Universal, Professional and Voluntary Pension Funds of DallBogg: Life and Health have increased by 57%, 164% and 59%, respectively, compared to 31.12.2022, the previous year ended.