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October 22, 2021

Private pension system, over EUR 1 bln worth of assets by end of 2010

The assets of private pension funds in Romania will exceed EUR 1 bln by the end of 2010, the Chairman of the Private Pension System Overseeing Board (CSSPP), Mircea Oancea, told a press conference yesterday, according to Agerpres. Currently, after two and a half years of system operation in Romania, compulsory and facultative private pension schemes have total assets of RON 4.2 bln (EUR 980 M).
On the other hand, the CSSPP head also said that private pension scheme subscription level should be increased fast, as net assets only represent 0.5 per cent of the Romanian GDP, compared to 4 per cent in Bulgaria, 14 per cent in Poland, 5 per cent in Slovakia and 10 per cent in Hungary. Private pension funds have so far acquired 4.5 per cent of the total securities issued by the Romanian state, Oancea also said.

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