Author: Симона Дамянова
Mrs. Evelina Miltenova participated in the Jubilee ceremony “Ring the Bell for Gender Equality”
The chairman of BADDPO, Mrs. Evelina Miltenova, opened the stock market session together with other ladies from the management team of the Bulgarian Stock Exchange (BSE) and the vice-chairmen of the Financial Supervision Commission, Mrs. Maria Filipova and Mrs. Diana YordanovaThe Bulgarian Stock Exchange conducted a survey among over 300 Bulgarian companies listed on the Exchange on the occasion of International Women’s Day, March 8th. Every year, the Exchange actively participates in the global initiative of the World Federation of Exchanges, Ring The Bell for Gender Equality.
The Jubilee ceremony “Ring the Bell for Gender Equality” is organized under the auspices of the World Federation of Exchanges, the United Nations Global Compact, and UN Women. Traditionally, we celebrate Women’s Day and support the global initiative of stock exchanges worldwide for gender equality in professional advancement in the financial sector. This year, we acknowledge the official UN message “Invest in women. Accelerate progress.”
In this context, the BSE team conducted an in-depth survey among companies to assess the representation of women in leadership positions in business. It was found that nearly 40% of companies are not led by women through their governing bodies, with only 2.6% being entirely led by women on their boards. In another 14% of companies, executive directors are only women.
The data show that in recent years, there has been no significant change in the representation of women in leadership positions. Unlike the structure in smaller and medium-sized firms traded on the growth market beam – where nearly half (46%) have women in their management bodies.
Today’s ceremony was opened by Manu Moravenov, Executive Director of the BSE, Vasil Golemanski, Deputy Chairman of the BSE Board of Directors, Maria Filipova, Deputy Chairman of the Financial Supervision Commission, Radoslava Maslarska, Chairman of the Bulgarian Association of Licensed Investment Intermediaries, and Hristina Pendicheva, Member of the BSE Board of Directors, who contributed with brief messages on the topic and symbolically rang the bell to start trading on the Exchange.
Mrs. Evelina Miltenova participated in the preparation of professional material for the IPE media on the supplementary pension insurance market and the prospects for pension funds in Bulgaria in 2024.
The country is trying to fulfill all the criteria set by the EU to finally join the Eurozone. “We, the branch association of the Bulgarian supplementary pension insurance companies, were invited and from 2022 we actively participated in the working group, consulting, actively discussing and giving proposals and opinions related to the national plan for the introduction of the euro, as well as the law for the introduction of the euro”, says Evelina Miltenova, president of the Bulgarian Association of Supplementary Pension Insurance Companies (BASPC).
Pension fund managers have considered the eurozone their home market since the country joined the EU in 2007. “We do not expect a significant change or expansion of investment alternatives, but operating in a stable euro market will be extremely important for insured persons. in the country,” she adds.
BASPC supports the increase of contributions in the second pillar from 5% to at least 10% to ensure sufficient additional pensions. “Increasing the level of contributions is another important point that needs to be addressed in order to increase pension savings and pension payments. Twenty years of saving is not enough for a decent pension; the minimum is 30-35 years of saving during the entire working life on the face,” says Miltenova.
“Now pension funds are not allowed to change the portfolio, for example by being more aggressive in the initial phase of saving and becoming more conservative at the end of the life cycle of accumulating pension investments. The proposal to introduce multi-funds was discussed in Bulgaria in recent years and now it is likely and imperative that the topic be raised again at the political level in 2024,” she added.
You can see more details here:
IPE CEE report_Jan 24_Bulgaria
