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Romanian private pension funds' assets reach EUR 1.33bn
The net assets under management by the Romanian private pension funds reached EUR 1.33bn at the end of April 2011, data published today by the CSSPP, the pensions watchdog, shows. In local currency, the net value of managed assets surpassed RON 5.43bn, this representing combined figures for both mandatory (2nd Pillar) and voluntary (3rd Pillar) pension funds. Read more...
(11.05.2011)
OANCEA: Half of the mandatory funds' participants own less than EUR 130 in their personal accounts
The rather small contribution level and the low contribution density to the mandatory private pension funds (2nd Pillar) are the main reasons why half of the funds' participants currently have less than RON 500 (cca. EUR 130) in their personal accounts with the pension funds, said Mircea OANCEA, Chairman of the CSSPP, the pensions watchdog, talking at a pensions conference recently. The head of the pension markets' supervisory authority also re-stated his belief in the necessity to increase the contribution level faster than the system's initial plans, and also reschedule the contribution calendar to reach 8% instead of 6% in 2016. Read more...
(10.05.2011)
XPRIMM's private pensions market awards 2011: And the winners are...
The fourth edition of the Private Pensions Market Awards Gala recently emphasized the outstanding market results of 2010, in the context of a year so difficult from both an economical and political perspective. PRIMM Magazine - Insurance & Pensions awards this year were designed to capitalize personal efforts, financial success as well as the ongoing struggle to financially educate the public. Read more...
(10.05.2011)
CSSPP: Full disclosure of investment portfolios of pension funds, twice a year
The Council of the CSSPP, Romania's pensions watchdog, recently approved secondary legislation providing for full disclosure of the investment portfolios of all pension funds twice a year, with a lag of aprox. 3 months. All fund managers have already undergone the first step in this supplementary transparency exercise by publishing detailed investment information for the end of 2010 on their websites. Read more...
(10.05.2011)
Proposal of full tax break for voluntary pensions waits for Parliament's decision
Romanian MPs have been discussing a law modifying the Fiscal Code during the last few weeks, but the debates were postponed because of domestic political matters. Among the hot issues of the proposed new fiscal regulations was one regarding the extension of tax deductions for contributions made to voluntary private pension funds (3rd Pillar), but this particular amendment is still under scrutiny by the deciding Commissions in the Chamber of Deputies, the lower chamber of the Parliament. The Romanian pensions industry has been supporting this amendment for quite some time now, and the proposal is also favored by the CSSPP, the private pensions' system watchdog. Read more...
(10.05.2011)
 


Mandatory pensions
(2nd pillar):
»Brief system design

»Official law

»Statistics & Market data

»Market players

»Pension funds

Voluntary pensions
(3rd pillar):
»Brief system design

»Official law

»Statistics & Market data

»Market players

»Pension funds

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» Romania's pensions journey: beginning of the road

» Comparison between the 2nd and 3rd pillar











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