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Bucharest
July 3, 2022
BUSINESS

Private pension administrators cut losses by half in 2011

The administrators of mandatory private pension funds (Pillar II) ended 2011 with a cumulated negative result of RON 27.47 M, down 46.8 pc from the previous year, according to data provided by administrators, Mediafax reports. Nine companies are active on Pillar II, each of them administering a mandatory private pension fund. According to the released data, ING Pensii reported the highest profit last year, which advanced to RON 11.4 M from RON 2.21 M one year ago. The second place is held by Allianz-Tiriac, with a gain of RON 3.52 M, against losses of RON 4.49 M in 2010, followed by Alico, which moved to profit – RON 270,968 and Aviva Pensii – RON 212,105, from losses of RON 1.02 M in 2010.

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