“In monetary terms, Pillar II funds earned a net EUR900 million for their contributors,” said Radu Craciun, head of the APAPR and general manager of pension fund BCR Pensii.
He added 2018 was the only year when private pension funds didn’t manage to yield above inflation.
“The only major risk for Pillar II funds is political,” he said, noting funds under-performed in 2018 due to the reaction of financial markets to emergency decree 114.
Romania’s seven Pillar II pension funds had 7.6 million contributors and net assets of EUR75.14 billion at the end of 2020.
According to APAPR data presented Monday, gross contributions going to Pillar II funds in 2020 stood at RON8.9 billion, 5% higher than in 2019. Pillar II funds assets grew nearly 21% on the year in 2020.