Mandatory private pension funds had net assets of RON 32.2 billion (EUR 7.1 billion) at the end of January, up almost 30% compared to the same month last year, according to data from the Financial Supervisory Authority (ASF).

Government bonds had the highest share in the pension funds’ assets, amounting to EUR 4.6 billion, namely 64.4%. Shares ranked second with EUR 1.4 billion, or 19.6%, whereas bank deposits came third with EUR 507.5 million, or 7.1% of the total assets.

Mandatory private pension funds had 6.8 million participants at the end of January this year. The seven active funds on this pillar are Alico, Aripi (managed by Generali), AZT Viitorul Tau (managed by Allianz-Tiriac), BCR, BRD, NN, and Vital (Aegon).

Romania’s pension system currently has three pillars: the first pillar - the public pension budget, the second pillar represented by the mandatory private pension funds, and the third pillar - the optional private pension system.

editor@romania-insider.com