Compared to February 2022, pension funds’ assets grew by RON13 billion (+15%), mostly due to Romanian employees’ contributions. Over the last 12 months, employees transferred nearly RON12.3 billion from their monthly gross income, namely, 3.75% of their gross income, for the private management of their retirement income. The bulk of investments (66% of the total) targeted state treasuries, financial instruments that lose their value amid rampant inflation, and a quarter targeted stocks listed mostly on the Bucharest Stock Exchange.
Some 7.9 million participants are enrolled in the private pension system (Pillar II).
NN Pensii is the largest P2 fund in Romania, with RON34.7 billion worth of assets, followed by AZT Viitorul Tau with RON21.5 billion and Metropolitan Life Pensii Private, with RON14.4 billion. Vital, managed by Aegon, had RON10.3 billion worth of assets in February 2023, Aripi of Generali of RON9.2 billion, BCR Pensii of RON7.1 billion and BRD Pensii of RON4.3 billion.