The net profit of the 5.7 million participants to mandatory pension funds rose to 1.17 billion lei (EUR259.7 million) for total contributions of RON7.32 billion.
APAPR vice-president, Mihai Coca-Cozma, said the voluntary private pension funds (Pillar III) reported a yield of 7.64% between May 2007 and August 2012. He also said, citing data from private pension regulator CSSPP, that there are 281,000 contributors to voluntary pension funds, which registered net assets of RON542 million.
Cozma added that private pension administrators placed 93% of participants’ contributions in Romania and the remaining percentage abroad.
According to Cozma, pension funds need stability and predictability, as well as support from authorities, in order to keep getting high performance.
The first contributions to Pillar III were made in May 2007, while the first contributions to Pillar II were paid a year later. (EUR1=RON4.5037)