The optional pension funds (Pillar III) in Romania recorded last year an average yield of 11.33 percent, its peak value in the last three years, and reached total net assets of EUR 184 million, according to the data provided by the Association of Private Pension Funds in Romania (APAPR).

“The 10 optional pension funds (Pillar III) reached about 313,000 participants at the end of 2013, with net assets of a total value of over RON 811 million (EUR 184 million),” reads the APAPR statement.

During last year, the assets managed by Pillar III pension funds increased by 35 percent, above the industry’s expectations.

In 2013, contributors to optional pension funds transferred RON 150 million (or some EUR 33.6 million) into the system, up 21 percent year-on-year, the highest annual level since the system’s start in mid-2007.

“While the number of participants has increased below the industry’s expectations last year, the record volume of contributions suggests the beginning of a revival in the optional pension system,” according to APAPR.

The optional private pension funds have recorded an average annualized yield of 8.28 percent from their launch in May 2007 until end-2013.

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