AN EMPIRICAL STUDY OF PERCEPTIONS OF INVESTMENT PLANS AS PENSION ALTERNATIVES - EVIDENCE FROM BULGARIA

Abstract

Pension systems all over the world, and particularly in Europe, are under tremendous pressure. The global demographic shift toward longer life expectancy and lower fertility is the primary source of tensions on pension systems, with the traditional pay-as-you-go type becoming more questionable in its efficiency. In this study, we explore the perceptions toward this issue in Bulgaria, as well as what are the possible outcomes as results of different actions. Our survey was conducted with an online form, among respondents from Northeastern Bulgaria. We explore primarily the opinions of young people, since we expect them to be the most active and the most strongly concerned in the process. Our findings show the Bulgarian public is still relatively reluctant to newer types of investments.