The value of the Romanian private pensions’ net assets (Pillar II) recorded a year-on-year growth of 47.3 percent in January this year, to some EUR 2.2 billion, according to the Supervisory Commission of Private Pension System (CSSPP). Compared to December 2012, the growth was 4.7 percent.

Some 93 percent of the private pensions funds’ assets were placed in the country in January 2013 - 89 percent year-on-year growth, while the rest represented placements in EU states.

The number of participants in the private pensions Pillar II was 5.8 million in the first month of this year, up 4.6 percent over the same month of 2012, while the average value of an account was some EUR 400. Over 50 percent of the participants were aged 35 or under.

Over EUR 50.7 million was transferred to private pension funds in January 2013, up 25 percent compared to the same month last year and 2.2 percent over December 2012.

The value of the optional pensions net assets (Pillar III) was EUR 141 million in January 2013, up 34.7 percent over the same month in 2012, according to CSSPP. The number of participants in the optional pensions Pillar III also posted a year-on-year growth of 11.2 percent in the first month of 2013, to over 293,000. The average value of an account in Pillar III was EUR 481 at January 31, 2013.

For over 50 percent of the participants, the contributions were paid by the employers in January 2013, while 36 percent paid their own contributions.

The amounts placed in bank deposits, municipal bonds and bonds of foreign non-governmental organizations have dropped in the first month of 2013, compared with January 2012, according to CSSPP.

In the first month of this year, over 93 percent of Pillar III assets were placed in the country - up 90 percent over January 2012, while the rest were in EU states.

Irina Popescu, irina.popescu@romania-insider.com