The seven private pension funds operating the mandatory segment had nearly 6.3 million contributors at the end of 2014, according to data centralized by the local pension fund association APAPR.
“Since launch, mandatory pension funds received gross contributions totaling RON15.2 billion, to which they added RON3.9 billion in net gains from investments,” the association said in a press release Wednesday.
Mandatory private pension funds had an average annualized yield of 11.08% since their launch in May 2008.
Contributions to Pillar II are currently at 4.5% of contributors’ gross income but will rise to 5% as of March and will gradually reach 6%.