Bucharest, 13 October 2025 – On 30 June 2025, private pension funds in Romania recorded total assets of RON 177.1 billion, up by 19% compared to the same period last year and 13.2% compared to the level recorded at the end of December 2024.
Privately managed pension funds (Pillar II) accumulated assets amounting to RON 170.8 billion, 19% more than in June 2024. Optional pension funds (Pillar III) reached an asset volume of RON 6.26 billion, marking a 17.5% increase in the mentioned period. Overall, the assets of the private pension system represented 9.9% of GDP at the end of the first half of 2025.
On the same date, 9.3 million Romanians were participating in the 17 private pension funds, up from 9.12 million at the end of 2024. Of these, 8.38 million people contributed to privately managed pension funds, and 913,000 participants were enrolled in the optional pension system, compared to 832,000 on 31 December 2024.
The investment policy of private pension funds continues to be predominantly oriented towards the local financial market. At the end of June 2025, 71% of portfolios were allocated to fixed-income instruments, while 24% represented investments in shares. Financial instruments are valued using the “mark-to-market” method (a method of valuing financial assets by reporting them at their actual market price at the time, rather than at their purchase price or historical book value), which can lead to episodes of short-term volatility. However, the long-term investment nature of private pension funds has proven resilient to market shocks over time.
The report on the evolution of the private pension market in the first half of 2025 can be found HERE (in Romanian only).
Authorization
Supervision
Legislation
Consumers
Reports
Sanctions
