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Continuous opt-in for mandatory pensions: 3,000 new participants joined during June


Only 3,000 participants signed for a mandatory pension during June, CNPAS announced, that being only half of the total number of registered adhesions (6,000). Continuous opt-in is mandatory for new entries in the labour market (under 35) and optional for 25-45 year olds that haven’t yet opted in. This is the second validation round for the continuous opt-in procedure.

At the first round, only 4,735 adhesions were validated out of a total of almost 34,000 adhesions. In other words in the first 2 months of continuous opt-in almost 8,000 participants joined mandatory pension funds - bringing the market’s annual potential at 48,000. The total number of mandatory pension funds participants increased from 4,156,316 to 4,161,051 after the first round of continuous opting-in, to reach about 4,165,000 after the second round.

17.07.2008

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