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The evolution of private pensions in the first three months of the year 2020

Bucharest, July 17, 2020 – The value of total assets in the administration, at the level of the entire system of private pensions, has reached, at March 31, 2020, 62.55 billion RON (12.96 billion Euro), increasing by 17.56% compared to March, 2019.

The share of the private pensions in the Gross Domestic Product, at the end of March, 2020, of 5.83%.   

The Privately Administered Pensions (Pillar II)

The total value of net assets, registered at March 31, 2020, by the privately administered pensions funds was of 60.14 billion RON (12.46 billion Euro). The annual growth rate registered was of 17.76%.

At March 31, 2020 were registered, in the privately administered pensions scheme, 7.53 million participants, 0.84 more than at the end of 2019.

At the level of Pillar II, the average contribution of the participants, with contributions transferred at March 31, 2020, was of 199.76 RON.

Also, at the end of March, 2020, the average value of an account in the privately administered pensions system was of 8,114 RON.

In the first three months of the year 2020, have been performed payments of the net personal asset to the participants, amounting to 37.82 million RON for 2,823 participants and beneficiaries.

The Facultative Pensions (Pillar III)

The total value of net assets, registered at March 31, 2020, by the facultative pensions funds was of 2.38 billion RON (0.49 billion Euro), registering an annual retainer of 11.87%.

At the end of March, 2020 were registered in the facultative pensions system 510,112 participants, 1.79% more as compared with the end of the year 2019.  

At the level of Pillar III, the average contribution of the participants, with contributions transferred at March 31, 2020, was of 141.63 RON.

The average amount of an account of the participant to the facultative pensions system was, at March 31, 2020, of 5,067 RON.

In the first three months of 2020, have been performed payments of the net personal asset by 1,992 participants and beneficiaries amounting to 20.15 million RON.

The detailed analysis of the private pensions evolution in Romania at March 31, 2020 can be found HERE.

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About ASF

ASF is the national authority set up in 2013 through OUG 93/2012 approved by Law 113/2013, for the regulation and supervision of insurance markets, private pensions and the capital market. ASF contributes to strengthening the integrated operating framework of the three sectors, which amounts over 10 million participants. More information can be found at www.asfromania.ro.