RSS
ASF: private pensions represented at the end of March 5.83% of the GDP
The value of total assets in management, at the level of the whole private pensions system reached on 31st March 2020 at 62.55 billion lei ( 12.06 billion euro)up by 17.56% against March 2019 informed on Friday the Authority for Financial Supervision (ASF) which says that the average value of an account in the system of private pensions privately managed was 8,114 lei at the end of March.
‘The value of total assets managed at the level of the whole system of private pensions reached on 31st March 2020 62.55 billion lei (12.96 billion euro) up by 17.56% against March 2020. The share of private pensions in GDP was at the end of March 2020 5.83%’ ASF shows in a press release.
Privately managed pensions (Pillar II)
The total value of net assets, registered on 31st March 2020 of privately managed pension funds was 60.14 billion lei (12.46 billion euro). The annual rhythm of growth registered was 17.76%. On 31st March 2020 were registered, in the system of privately managed pensions 7.53 million participants, with 0.84% more than at the end of 2019.
‘At the level of Pillar II, the average contribution of participants with contributions collected on 31st March 2020 was 199.76 lei. similarly at the end of March 2020, the average value of an account in the privately managed pensions system was 8,114 lei’ show ASF data.In the first three months of 2020, there were payments in the net personal assets by participants of 37.82 million lei for 2,823 participants and beneficiaries.
Voluntary pensions (pillar III)
The total value of net assets, registered on 31st March 2020 of voluntary pensions funds was 2.38 billion lei (0.49 billion euro) registering an annual advance of 11.87%. At the end of March 2020 there were registered in the system of voluntary pensions 510,112 participants with 1.79% more than at the end of 2019.
At the level of Pillar III, the average contribution of participants with contributions collected on 31st March 2020 was 141.63 lei. the average value of an account of the participants to the voluntary pensions system was on 31st March 2020 5,067 lei.
In the first three months of 2020, there were made payments of the personal assets to 1,992 participants and beneficiaries of 20.15 million lei.
The Authority for Financial Supervision is the national authority set up in 2013 through OUG 93/2012 approved through law 113/2013, for the regulation and supervision of the market for insurances, private pensions, as well as the capital market. ASF contributes to the consolidation of the integrated framework of the three sectors, which gathers over 10 million participants.