Under the law, the contribution rate on Pillar II segment must reach 6% by 2016.
In the first 11 months of 2011, contributions to Pillar II totaled RON2.3 billion, with a monthly average of RON207.63 million, according to data from private pension regulator CSSPP.
In 2012, the nine mandatory pension funds reported a 50% increase in assets to RON9.64 billion, while voluntary pension funds cumulated assets of RON598.9 million, up 37% from December 2011. The number of contributors reached 5.77 million at the end of 2012.
The first contributions to mandatory pension funds were made in 2008. (EUR1=RON4.3481)