Public Lecture by Vanya Grigorova: Where Our Money Goes – the Private Pension Funds Management

Vanya Grigorova clarified the emergence of the new pension system, highlighted the specifics of the three-pillar model and emphasized on the second pillar - the so-called universal pension funds, which are additional but also mandatory. She spoke about the development of the pension model over the years and about the repeated amendments to the Social Insurance Code as well about the fees /including the excess fees/, profitability /which is sometimes negative/ and compensations of senior managers of pension companies /not in line with profitability/.