Net assets held by mandatory (Pillar II) and voluntary (Pillar III) pension funds increased 3.57% on the month in June.
Total assets on Pillar II increased at a higher pace than assets on Pillar III, the regulator said.
Assets managed by mandatory private pension funds increased 3.65% on the month in June, while assets managed by voluntary private pension funds increased only 2.55%. On the year, net assets on the mandatory segment increased 59.02% in the first six months, while the voluntary segment increased 45.74%.
The number of contributors on the mandatory segment increased by 138,452, while the voluntary segment gained 19,808 new contributors in the first half of 2011. A total 5.32 million Romanians contribute to private pension funds.
Under the private pension law, employees contribute 3% of their gross monthly salary to a mandatory private pension fund. The contribution is set to increase gradually to reach 6% in 2016. The average contribution per participant in June was at RON31.55, up 15.78% compared to the same period a year ago and 23.61% higher than at the end of last year. Compared to May, the contribution increased 0.41%. (EUR1=RON4.2685)