Bulgaria's Retirement Funds' Assets Grow by 15% to BGN 4.5 B

The assets of Bulgaria's retirement funds grew by 14.68% in 2011 year-on-year, a report of the Bulgarian Financial Supervision Commission shows.

The preliminary results about the private retirement funds in Bulgaria are based on their financial reports to the FSC.

As of December 31, 2011, a total of 3 992 506 people were included in the four types of private retirement funds in Bulgaria, which is an increase by 109 623 people, or 2.82% growth in numbers year-on-year; of those 51.35% are men.

The net assets of the Bulgarian private retirement funds amounted to BGN 4.572 B, an year-on-year growth of BGN 585 324, or 14.68%.

The combined revenues of the retirement funds in the country reached BGN 98.3 M, which is a 13.42% y/y growth.

Their combined profit is estimated at BGN 22.3 M, up by 13.20% compared with 2010.

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