From the beginning of the year through May 22, 2026, Pillar 2 funds recorded yields between 7% and 10%, translating to a net return for participants of RON18.1 billion (EUR3.5 billion).
The seven private Pillar 2 pension funds manage total assets (net assets) worth RON228 billion (EUR43.5 billion) on behalf of 8.5 million participants.
Over the course of their 18 years of operation, the pension funds have collected total gross contributions of RON141.8 billion and made payments of approximately RON07.2 billion to about 335,000 beneficiaries, including heirs. The difference between net assets under management (plus payments made by the funds) and gross contributions collected represents the net return for participants, RON93.4 billion (EUR17.8 billion).
The average yield of all Pillar 2 funds over the 18-year period was 8.6% per year, exceeding the average inflation rate of approximately 4.8% per year during the same period.
There are 8.5 million Romanians contributing to mandatory private pension funds or the majority of the country’s working-age population. Of these, over 4.6 million contribute regularly, month after month, 4.75% of their gross income as part of the 25% social security contribution.
The Pillar 2 funds represent the population’s second most valuable financial asset, after bank deposits, as well as the only source of long-term savings for Romanians, particularly those with low incomes. The amounts accumulated in Pillar 2 have reached approximately 11% of GDP.
APAPR estimates show that over 1 million Romanians have more than RON60,000 in their personal Pillar 2 accounts. About 360,000 of them have more than RON100,000 in their personal accounts.
About 95% of the funds in Pillar 2 are invested in Romania. Approximately two-thirds of the funds are invested in government securities, and more than a quarter are invested in companies listed on the Bucharest Stock Exchange.
(English version by Loredana Fratila-Cristescu)