Mandatory private pension funds (Pillar II) were launched in May 2008 and registered 5.9 million contributors at the end of June, according to the association.
The Pillar II contribution currently stands at 4% of contributors’ gross wage. The share increased from 2% in 2008 and will reach 6% by 2016.
The number of contributors to voluntary private pension funds (Pillar III) exceeded 300,000 at the end of June, and less than half of them pay their contribution monthly.
The first Pillar III contributions were paid in May 2007.
Net assets on this segment amounted to RON687.5 million at the end of June, up 34.2% on the year.