“Private pension funds posted remarkable investment yields in 2012 despite an unfavorable economic climate,” the association said in a press release Monday.
The assets of the nine mandatory funds on the Romanian market increased 50% in 2012, to RON9.64 billion (EUR2.18 billion), and the number of contributors reached 5.76 million, about 245,000 more than at the end of 2011.
The assets managed by the eleven voluntary pension funds of the market increased 37%, to nearly RON600 million (EUR135 million), and the number of contributors increased by around 30,000 to 290,000.
According to the association, in May 2008-December 2012, mandatory pension funds posted an average yield of 65% (an annualized average of 11.45%), while voluntary pension funds, launched in May 2007, had an average yield of 51.7% (an annualized average of 7.74%).
In the case of mandatory pension funds, the yield translates into net gains for contributors of over RON1.44 billion, besides gross contributions of RON8.19 billion since May 2008, the release stated.