Private pensions represent 3% of the GDP in Romania

Romania’s private pension system accounted for 3% of the GDP at the end of March. The total value of the assets under management reached some EUR 5 billion, according to the Financial Supervisory Authority. The assets’ annual growth rate amounted to 38.4%, whereas the growth recorded in the first three months reached 7.56%, reports local Agerpres. The monthly growth rate of the total assets was 1.26%, the minimum level recorded between March 2014 and March 2015. The private pension system had 6.37 million contributors at the end of the first quarter, up 4.15% year-on-year and up 1.3% compared to end-2014. Some 82,000 people entered the system in the first three months of 2015. editor@romania-insider.com