Private pensions system, assets worth RON 17.5 bn


The total assets under administration in the entire system of private pensions in late June amounted to RON 17.5 billion (18.42 per cent higher than December 31, 2013), reports a press release of the Financial Supervisory Authority. The value of the total assets calculated in EUR is about 4 billion. As a percentage of the estimated GDP for 2014 (RON 662.3 billion), the total assets represent 2.64 per cent of the GDP.
Thus, in the first half of this year, 6.16 million people were registered as payers in the private pension system (2.02 per cent more than December 31, 2013), the number of participants with at least a contribution being 5.97 million. The value of the net assets registered by the private pension funds in Pillar II were RON 16.54 billion (3.77 million euros), 18.68 per cent more than December 31, 2013. The average contribution in June of the 3.75million participants was RON 88.55. The average value of an account in Pillar II was RON 2,770 (about 630 EUR). About 535,000 people used to have account values between RON 5,000 and 10,000. About 228,000 people have account values in excess of RON 10,000 (more than 2,280 EUR).
As for the optional private pensions (Pillar III), 329,873 participants (5.27 per cent more compared to December 31, 2013) were registered in the ten pension funds. The net asset value registered in the private pension funds was RON 923.5 million (EUR 211 million), 13.78 per cent more than on December 31, 2013. The average value of an account in Pillar III was RON 2,800 (about 638 euros).