ASF had preliminarily approved the merger between the two voluntary pension funds in June.
On September 30, Eureko Confort fund had 3,727 participants, with assets worth RON5.75 million and a market share of 0.48%, according to ASF data. Aegon Esential fund had 108 participants and net assets of RON30,000, after it became operational in May.
Last year, Dutch insurance group Aegon took over the life insurance and private pension operations of Eureko Romania, part of Dutch financial group Achmea, and integrated them into Aegon’s operations on the local market.
The takeover of the fund administered by Eureko Pensii Private brought Aegon approximately 472,000 clients, reaching 768,861 at the end of last year, from 263,990 a year before.
The company estimated that Aegon Pensii Private will administer assets of over RON2 billion at the end of 2015, due to an increase in contributions to mandatory private pension funds (Pillar II), to 5% from the current 4.5%, and tapping the segment of voluntary private pension funds (Pillar III).
Dutch insurance group Aegon opened its Romanian subsidiary at the beginning of 2008.