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