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Sokolova, Cvetelina


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1 article of this author has been cited in the European Press Review so far.


Sega - Bulgaria | 24/11/2008

Pensioners are the real losers of the financial crisis

Workers in the heavy industry sector and older investors in insurance companies are those hardest hit by the financial crisis, writes the Bulgarian daily Sega. Because of the financial crisis they are now facing the prospect of their incomes not even keeping up with inflation. The speculators who, prompted by record profits, pumped millions into insurance companies have taken out their money again and are waiting for better times. ... But the losers for the time being, the old people, don't have that much time. It's true that private pension funds are a voluntary investment and that everyone takes their own risk. But the state and the companies could have cushioned the impact on the oldest section of the population by setting up multi-funds. In addition to pensioners, workers in heavy industry are also directly affected by the crisis. From 2011 they are to receive only fixed-term pensions from private funds, without the portion contributed by the national insurance institute."

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