At the same time, in line with calculations by the Romanian association for private pensions APAPR, the net assets managed by Pillar II reached RON126.7 bilion (EUR25.5 billion), a record high for the system, up 31.4% against the end of 2022.
8.1 million Romanians contribute to the system, namely most of the country’s active population.
„2023 yield once again confirms the winning medium and long-term formula private pension funds are offering. Despite the possible short-term evolutions, as in the case of 2022, the subsequent market rebound makes the long-term positive tendency prevail,” said Radu Craciun, APAPR chairman.
The association mentions that beside the very good results of Pillar II, 2024 also starts with other good news for the 8.1 million participants. Starting January 1, 2024, contributions rise from 3.75% to 4.75% of gross monthly income.
Also, the tax regime applied to payments made by funds to beneficiaries has improved starting January 1, 2024.
(English version by Catalina Apostoiu)