A number of 488 contributors opted out of their Pillar III (voluntary, privately managed) pension funds in the first half of 2022, which represents only 0.08% of the average number of subscribers in such funds during the period - according to data from the financial market regulator ASF.

The number of subscribers who opted for another Pillar III pension fund during the period was 503 - with the balance most likely between funds at the end of the period.

The annualised share of contributors (0.16%) switching their funds has decreased significantly from 2021 (when it was 0.46%), and it remains very low in absolute terms, witnessing rigidity and inertial investment decisions, but the general patterns remained valid: there is a visible flow of contributors from NN Optim managed by NN to Pensia Mea managed by Banca Transilvania group.

Thus, in 2021, 1,972 contributors (1.0% of the total) left NN Optim and 2,021 contributors ported their accounts to Pensia Mea to account for 10.3% of the average number of contributors to the pension fund managed by Banca Transilvania.

These flows accounted for most of the around 2,500 contributors who ported their pension accounts in 2021.

In H1 this year, 294 contributors left NN Optim, and 247 opted for Pensia Mea - again, accounting for most of the flow of contributors who ported their accounts.

(Photo: Designer 491/ Dreamstime)

iulian@romania-insider.com