The half a million Romanians contributing to BRD Pensii have their retirement savings secured as the law guarantees participants’ assets irrespective of what happens with the managing fund.
After having ceased marketing activities for BRD Pensii and BRD Medio, French-held BRD is now readying several changes for the Pillar II managing entity, which has smallest Pillar II private pension fund in Romania, with RON3.7 billion assets and around 522,000 contributors.
This would be the first change of recent years in the Pillar II private pension system, which now includes 7 funds, by the fact that the number of funds would go down from 7 to six. Pillar II assets revolve around RON90 billion and the number of participants stands at around 8 million employees.
(English version by Catalina Apostoiu)