Value of total assets within private pensions system, RON 7 bln in 2011

The value of total assets within the private pensions system has reached approximately RON 7 bln at the end of 2011, namely RON 6.42 bln in Pillar II and RON 436 M in Pillar III, the annual report published on the official website of the Private Pension System Supervisory Commission (CSSPP) shows. The private pensions system had a constant and solid evolution, and the pension fund assets reached a share of 1.19 per cent of GDP at the end of 2011.The monthly growth registered in the case of private pension fund assets was also determined by the constant payment of contributions, but also by the fact that the contribution was hiked to 3 per cent of a contributor’s gross revenue. Thus, in Pillar II gross contributions totaled RON 1.98 bln in 2011.The number of participants in the whole private pensions market surpassed 5.7 million persons at the end of 2011, up by 6 per cent year-on-year. Although the economic recovery is yet to come and the climate was not favorable for the labor market, the optional pension funds gained approximately 40,000 new clients, surpassing a total of 260,000 participants.

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