“Considering sharp falls and the high volatility of capital markets, as well as the need to protect the assets of pension fund contributors the Financial Supervisory Authority has decided to allow pension fund administrators to invest in state paper above the current 70% threshold for one year,” he said.
According to the most recent data, in February 2020 mandatory private pension funds had RON40 billion invested in state paper, accounting for 63% of their investments, while 20.2% of assets were invested in equity.