The largest private pension account under Pillar 2 has a value of RON 1.4 mln (EUR 285,000), as reported by the financial market regulator ASF.

ASF does not disclose the identity of the contributor or the identity of the fund manager that holds in its portfolio the biggest account.

For comparison, the average value of a private pension account was RON 10,670 (just over EUR 2,000) at the end of March 2021, 8.2% more compared to the same period of the previous year. The average may be misleading since a large number of accounts are close to empty.

"The distribution of the value of the participants' accounts shows a high concentration, 62% of the assets being held by only 20% of the participants. The largest account has a value of RON 1,403,760, while the smallest has a value of RON 1. At the same time, over 20% of participants hold assets below the value of RON 1,000," according to the private pension report for Q1, 2021, published on June 8 by ASF, Alephnews.ro reported.

andrei@romania-insider.com

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