The trend comes against the backdrop of a favorable economic and financial context: monthly employee contributions continued to feed the funds, and the investment performance was supported by the significant increase in the prices of listed companies, as the Bucharest Stock Exchange recorded all-time highs in the summer of 2025. About 25% of investments were made on the Bucharest Stock Exchange, 65% in government securities and the rest in other instruments. The stock exchange’s BET index has gained 18% since the beginning of 2025.
In nominal terms, 95% of the RON179 billion – i.e., about RON170 billion – comes from Pillar II funds. This is the mandatory segment of the system, to which about 4.5 million employees contribute monthly, with a standard contribution of 4.75% of gross income. Around RON1.8 billion to RON2 billion are collected each month, and the average contribution is around RON430 per active participant.
Pillar III funds, i.e., voluntary funds, account for the remaining RON9 billion. Around 460,000 people contribute voluntarily, with average monthly contributions of RON169. In all, monthly inflows stand at around RON70 million to RON75 million.
(English version by Loredana Fratila-Cristescu)