PAC Doverie gives 13th –month pension

Since the achieved yield as a result of the financial crisis affects most the interests of the people receiving pensions from the voluntary pension funds PAC Doverie made a decision, irrespective of the yield, to keep the amount of the pensions paid from Doverie Voluntary Pension Fund in 2008. For that purpose the Company will transfer about BGN 600,000 from its own funds to the pension reserve.

The increase in the costs of PAC Doverie as a result of that decision will be compensated by cutting the expected advertising expenses, investments in long-term tangible assets and if necessary, the additional material incentives for the employees.

In connection with the effect of the world financial crisis on the yield of the pension funds the pensioners of Doverie VPF will receive a Christmas bonus equal to the amount of their monthly pensions. That will compensate the lack of positive yield from the management of the assets of Doverie VPF as a result of which the pension amounts were increased so far.