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Romanian pension funds returned 11% in the first 8 months of 2009

In a few words, here is the picture of the Romanian mandatory private pensions market, after the first 8 months of 2009:

  • mandatory pension funds returned and average of 11.31% in the first 8 months of 2009;
  • voluntary pension funds returned an average of 10.73% in the same period;
  • all 25 funds returned net real values (above inflation rate) in the last 12 months;
  • net assets of Romanian pension fund industry surpassed EUR 476mn.

2008 statistics show positive returns for the Romanian pensions market

The 2008 statistic data of the Romanian private pensions market are now available in complete time series for all the core business indicators. Briefly, the figures show increases at all levels, both in Pillar II and Pillar III. Continuare

Mihai BOBOCEA, appointed Secretary General of APAPR, Romania's Pension Funds' Association

APAPR, Romania's Private Pension Funds' Association, has appointed Mihai BOBOCEA as its first Secretary General, starting the 1st of January. His new responsabilities include internal ansd external communication, data gathering and dissemination, studies and research, public affairs and PR and others, the Association noted in a press release. Continuare

Romania's mandatory private pension funds post 7% nominal return for 2008, surpassing inflation

The 14 mandatory (2nd pillar) private pension funds on the Romanian market posted a nominal weighted average rate of return of 6.96% for 2008, surpassing the rate of inflation, according to official data published by APAPR, Romania's pension funds' association. The rate of return stands for the first 7 months of operation for these funds (20th May - 31st December); in this period, the real weighted average rate of return was 2.4%-2.8% above the 4%-4.5% inflation in the same period. Annualized, the rate of return would be 11.29% for the whole 2008, that is about 4% in real terms. Continuare

INTERAMERICAN Pensions to merge with BANCPOST Pensions, the pension funds will merge too

INTERAMERICAN Pensions, the company managing Romania's 6th largest mandatory private pension fund (2nd pillar pensions), will merge with BANCPOST Pensions, which manages the 11th largest fund on the Romanian mandatory private pensions market, sources from the market told The transaction will be announced today and needs regulatory approval to begin official proceedings. After the pensions companies will have merged, the two pension funds will merge too. The absorbed entity will be BANCPOST Pensions and its fund.

Romania's mandatory pension funds post 5.1% net return after 6 months of operation

ROMANIA. The country's freshly launched mandatory pension funds (2nd pillar pensions) managed to post a net weighted average return of 5.1% for the first six months of operation, according to an analysis by The return is above inflation and above expectations, especially considering the effects of the crisis on the financial markets. 11 of the 14 mandatory pension funds on the market managed to post positive returns by betting on state bonds and bank accounts and keeping their equity / stock exposure to a minimum. Continuare

EXCLUSIVE: CSSPP rejected the BCR - OMNIASIG deal to merge their mandatory pension funds

ROMANIA, EXCLUSIVE. CSSPP, Romania's private pensions supervisory authority, voted against the deal proposed by BCR Leasing and OMNIASIG Pensions, in which BCR Leasing was going to buy OMNIASIG's shares, with the ultimate goal to merge the mandatory private pension funds (2nd pillar pensions) managed by BCR and OMNIASIG - CSSPP confirmed exclusively for, after an official inquiry made by our webportal. OMNIASIG Pensions manages the 10th largest mandatory pension fund on the Romanian market, with a market share of aprox. 1,5%.

Voluntary pensions market: 135,900 clients and EUR 18 mn. AuM at the end of October

Over 10,000 Romanians became new members in the voluntary private pensions system (3rd pillar) during October, bringing this market at the total figures of 135,900 participants and EUR 18 million net assets, according to an analysis made by

The total voluntary private pensions market's assets reached EUR 18 million at the end of October, a EUR 2 million growth compared to the end of September. For the end of this year, the most plausible estimations show a total amount of 150,000 participants and about EUR 23 million net assets.


The private pensions system's Guarantee Fund to reach the Parliament in less than 4 months

ROMANIA. President Traian BASESCU recently promulgated a law bringing some improvements to the Romanian private pensions system architecture, which makes it mandatory for the draft law on the Guarantee Fund for the private pensions system to reach the MP's tables in less than 4 months. Romania's Guarantee Fund for the private pensions system is based on the model already adopted in the Romanian banking system.

CSSPP: Mandatory pension funds' equity investments, below 2% of assets

ROMANIA. Mandatory pension funds' (2nd pillar) equity investments fell below 2% of total net assets at the end of October, as against 3.42% of net assets at the end of September, 4.23% at the end of August and 9.5% at the end of May (the start of the system) - CSSPP executive manager Cristian ROSU stated in pensions conference organized by Media XPRIMM.

During the last few months, mandatory pension funds stopped buying equity to avoid exposure to the sharp decline in stock / equity markets. The Bucharest Stock Exchange lost 67% of its composite value during the first 10 months of this year, on of the sharpest drops in the region and in the world. However, most of the country's mandatory pension funds managed to stay in the black, avoiding exposure o equity and buying state securities and amassing bank deposits.

Mandatory pension funds to collect EUR 455 mn. worth of contributions for 2009

ROMANIA. The country's mandatory private pension funds (2nd pillar pensions) will collect aprox. EUR 455 mn. worth of contributions as of next year. The average gross wage in Romania for 2009 is estimated at 1,865 RON (505 EUR), according to the budget adopted by the Romanian government for 2009. The estimation is based taking into account a contribution level of 2.5% of this wage for about 3,5 million participants and an average exchange rate EUR/RON of 3.7 units. Continuare

RAIFFEISEN BANK offers voluntary pensions to its Romanian employees

ROMANIA. RAIFFEISEN BANK, one of the largest five banks in Romania, decided to offer voluntary private pensions (3rd pillar pension) for its 5,400 employees, the fund chosen being the voluntary pension fund managed by RAIFFEISEN Asset Management. At the end of October 2008, the freshly-launched "RAIFFEISEN Acumulare" voluntary pension fund had 5,449 participants and net assets of 1 RON mn. (0.3 EUR mn.). Continuare

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

You should read this:
» 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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