OANCEA: Voluntary pension funds will manage net assets of EUR 25 mln. by year-end
Voluntary pension funds (3rd pillar) will have assets under management of about EUR 25 mln. by the end of 2008, Mircea OANCEA, president of CSSPP (the Romanian pensions regulator), said recently to www.privatepensions.ro. "Our estimates have been more optimistic up until now, but in the end a slower market growth for voluntary pensions is healthier. The voluntary pension funds will manage assets of about EUR 25 mln. by the end of this year, compared to EUR 11 mln. at the end of H1", he stated.
OANCEA also said that, based on companies’ expressed intentions to enter the voluntary pension market, he could estimate the number of operational voluntary pension funds at the end of this year to be of 11-12, compared to 8 in the present. At the same time, the number of voluntary pension fund’s clients would be 200,000, compared to 110,000 after H1.