Romanian private pension funds reach EUR 4.2 bln in assets

Romanian private pension funds managed RON 18.8 billion (some EUR 4.25 billion) in assets at the end of September 2014, up 27.12% compared to end-2013, representing 2.8% of the Gross Domestic Product (GDP), according to data from the Financial Supervisory Authority (ASF). On September 30, the privately managed pension system (Pillar II) had 6.2 million participants, up 4.19% year-on-year. The assets managed by pension funds in this pillar had a value of RON 17.78 billion (some EUR 4 billion), which represented an increase of 27.52% compared to December 30, 2013. The third pillar of the pension system, which includes optional private pension funds, had over 336,000 participants, up 7.37% compared to the end of the previous year. Irina Popescu, irina.popescu@romania-insider.com