Press Release regarding the functionality of the aplication "Find out at what pension fund you are!", hosted on the ASF site

Bucharest, November 5th, 2019 The Financial Supervisory Authority (ASF) analysed how the administrators of the privately administered pension funds responded, in the third quarter of 2019, to the requests registered in the application "Find out at what pension fund you are!", hosted on the the ASF site – www.asfromania.ro.

The purpose of the action carried out by the ASF was to identify the degree of involvement of the administrators regarding the management of the services offered to the participants in Pillar II.

In the third quarter of 2019, 19,451 unique requests were registered in the application "Find out at what pension fund you are!", 145% more than in the same period of the previous year, when it were registered 7,921 requests, which reflects the growing interest in the system of privately administered pension funds.

The total number of resolved requests (contacted applicants, resolved petition), in the third quarter of 2019, was almost 152% higher, compared to the similar period of the previous year.

In the case of 685 requests, the applicant could not be contacted, and in the case of 65 requests, the applicant  was contacted, but the petition could not be resolved. Among the reasons that generated these situations are: the phone number filled in by the applicant  was incorrect and there were no other contact details, the applicant  did not answer the phone, the applicant  refused the conversation, the phone number belonged to another person, the applicant  did not complete the email address etc.

The administrators of the privately administered pension funds generally complied with the 10-day deadline assigned for resolving information requests regarding Pillar II membership. The average response time, at the level of the Pillar II pension system, was about 5 days, during the reference period.