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ANAF: 4% of employers do not pay the public pension contributions

Approximately 4% of the employers in the local market are not paying the state social security contributions (CAS), the voluntary compliance rate in collecting these contributions being 96%, according to the information sent exclusively for www.privatepensions.ro by the National Agency of Fiscal Administration (ANAF). Continuare

AG2R Pension Fund, the fourth to go off the market, upon own request

AG2R Pension Fund is the fourth mandatory private pension administrator (pillar II) that submitted to the Private Pension Supervisory Commission (CSSPP) a request for withdrawal of the administration license to leave this market, following the model of MARFIN, ZEPTER and MKB ROMEXTERRA, stated sources on the market, for www.privatepensions.ro. Continuare

CSSPP: The growth of the voluntary market - “a slow and lengthy” process

"Earning the population’s confidence in the voluntary pension system is a slow and lengthy process, but the continuous increase in the number of participants and the total net assets of the funds are positive signs for the system’s future”, stated the experts of the Private Pension Supervisory Commission (CSSPP) in the quarterly report on the voluntary private pension market (pillar III) published at the end of last week. Continuare

Voluntary pension funds’ portfolio in March: 71% state securities, 15% deposits, 7% shares, 5% corporate bonds

The voluntary private pension funds (pillar III) had the following portfolio structure at the end of March: 71% state securities, 15% bank deposits, 7% shares, 5% traded corporate bonds and 2% mutual funds, according to the market’s quarterly report, published today by the Private Pension Supervisory Commission. Continuare

MKB ROMEXTERRA Pension Fund received approval for license withdrawing

MKB ROMEXTERRA Pension Fund received the CSSPP’s approval to withdraw the license as mandatory private pension administrator (pillar II) today, thus becoming the third company to go out this business, after MARFIN and ZEPTER. The request was submitted yesterday and approved today by the Private Pension Supervisory Commission (CSSPP). Continuare

Pension funds can participate in trading sessions for new state securities on May 22nd and 28th

The mandatory private pension funds (pillar II), to collect the first money from the contributions on the 20th of May, can buy newly issued state securities (on the primary market) on May 22nd and 28th, according to the issuing calendar published by the Ministry of Economy and Finance.
Continuare

CSSPP: First reporting on the continuous enrolling, on May 20th

The norm on the continuous enrolling to the mandatory private pension funds (pillar II) was published in the Official Gazette on April 25th, when the process has officially started, as announced yesterday by the Private Pension Supervisory Commission (CSSPP). However, the companies had received CSSPP’s permission to start the continuous enrolling process for the private pension funds on January 18th already. Continuare

Ministry of Finance: We shall develop the state securities market for the private pension funds

The Ministry of Finance announced today they will develop the state securities market by increasing the issuing volume, expanding the maturities (by introducing the 15 year maturity securities) and even by the possibility of issuing securities indexed with the inflation rate, according to the government’s strategy on public debt management for 2008-2010. Continuare

State securities’ returns exceeded 10%

The Ministry of Finance issued one-year maturity securities yesterday, the average return per issued securities being 10.22%, thus exceeding the 10% threshold for the first time over the last year and a half, since the regular issuing of such instruments started again. Continuare

ZEPTER Pension Fund requested the withdrawal of its license, following MARFIN’s example

ZEPTER Pension Fund, the 16th company managing mandatory private pensions (pillar II), submitted today the request for withdrawal of the administration authorization (license) to leave the market, following MARFIN’s example two weeks ago. Continuare

Ordinance 112/2007 went back to the Parliament

The law on adopting the Emergency Ordinance 112/2007, amending the other two laws on private pensions, went back to the Parliament, after being rejected from promulgation by president Traian Basescu and sent for re-examination in the legislative chamber. The Senate’s Economic Commission analyzed the Law on adopting EGO 112/2007 yesterday, to be sent to the Labor Commission and then in a plenary session, to be voted. Continuare

OTP Pension Broker leaves the mandatory pension market

The Private Pension Supervisory Commission (CSSPP) withdrew the authorization of OTP Pension Broker, upon the company’s request, according to the institutions’ announcement, made today. Thus, the company left the private pension brokerage market. Continuare

Employers pay for 68% of the voluntary pensions

Almost 68% of the voluntary pension funds’(pillar III) participants enjoy this benefit as part of the salary package, as their employer makes the contributions on their befalf, according to an analysis of www.privatepensions.ro, based on data from the pension companies. The information was valid at the end of March 2008, thus being the most recent data available on the market. Continuare

SEITAN: 2008 will bring 200,000 clients for voluntary pensions, at the most

The voluntary pensions market (pillar III) might experience a maximum increase by 200,000 in the number of participants this year, compared to the approximately 56,000 at the end of last year, states Mihai SEITAN, director general of the FINCOP pension broker. During the mandatory pension campaign, FINCOP was the market’s second largest pension broker, the company’s next step consisting of selling voluntary pensions, soon to start. Continuare

Voluntary pension funds prefer T-bills for now

At the end of February, the market’s seven voluntary pension funds (Pillar III) had almost 65% of their net assets invested in T-bills, T-bonds and municipal bonds, according to the data provided to www.privatepensions.ro by the Private Pension Supervisory Commission (CSSPP). Continuare

BRD Pension Fund gets ready for voluntary pensions

BRD Pension Fund, the market’s ninth biggest mandatory pensions company (pillar II), is getting ready to submit the authorization file for the license to administrate voluntary pensions (pillar III) as well, stated Damien MARECHAL, CEO of BRD Pension Fund. Continuare

Brokers brought only 5% of voluntary pension funds’ participants

Brokers intermediated only 4.92% of the total contracts (clients) concluded by the seven voluntary private pension funds (pillar III) by the end of February this year, according to the data provided by the Private Pension Supervisory Commission (CSSPP). Continuare

Top brokers for mandatory private pensions

BROKERPOOL Cluj, FINCOP and SALVE CLUB are the biggest mandatory private pensions brokers (pillar II), with a cumulated total of almost 520,000 clients attracted in the system during the four months of direct sales (before the lottery), according to the data provided, in exclusivity, by the Private Pensions Supervisory Commission (CSSPP). After the four months of initial enrolling, the number of validated clients was 3,991,032. Continuare

MARFIN submitted the request for withdrawal of the license for pillar II

MARFIN Pension Fund, the market’s smallest administrator of mandatory private pensions (pillar II), submitted a request for withdrawal of the license, in order to leave this business, stated Mircea OANCEA, president of the Private Pension Supervisory Commission CSSPP), for www.privatepensions.ro. Continuare

Articole:
[««] [«] [161 - 179]

Mandatory pensions
(2nd pillar):
»Brief system design

»Official law

»Statistics & Market data

»Market players

»Pension funds

Voluntary pensions
(3rd pillar):
»Brief system design

»Official law

»Statistics & Market data

»Market players

»Pension funds

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» Romania's demographics projection: dependency ratio to triple until 2060

» Romania's pensions journey: beginning of the road

» Comparison between the 2nd and 3rd pillar











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