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2008 statistics show positive returns for the Romanian pensions market


The 2008 statistic data of the Romanian private pensions market are now available in complete time series for all the core business indicators. Briefly, the figures show increases at all levels, both in Pillar II and Pillar III.

Pillar II

The number of participants in mandatory funds increased, reaching almost 4.6 million by the end the year. Yet, there are still around 1 million empty accounts reported monthly, of which about 500,000 "white" accounts, with no contribution at all during 2008.

In terms of market share, there were no significant changes compared to the first contribution date, although from the 18 initial pensions administrators there are only 14 active pensions companies. As the 4 pension entities wich left the market had a very small market share, their absence didn't produce any major changes in the market structure.

By the end of 2008, the Romanian mandatory pensions fund had an agregated volume of assets under management of about 209 million euro, while considering the average fund unit value variation and the average investments return, the Romanian market posted the best performance among the CEE countries, of 11% (annual return).

Over 60% of funds portfolio, has been invested in December 2008, in government and municipal bonds and over 24% in corporate bonds. Remainder portfolio was invested in bank deposits (13%), shares and mutual funds (2%).

Pillar III

Whith almost 155.000 participants and 21.7 million euro assets under management, the Romanian volunaty pensions market is still in its early stage of development.
By the end of 2008, there where 8 pensions administrators in the market and 10 voluntary pension funds, of which only 7 with more than one year of activity.

Over 82% of the assets in Pillar III was invested in government securities, municipal and corporate bonds and the remainder, in bank deposits, shares and mutual funds. The agregate rate of return was of 2.7%, less than the inflation rate of about 6%. The best individual performance was registered by the most conservative pension fund, BCR Prudent, also the biggest in therm of UAM.

To see more information about these results, click on
mandatory pensions (2nd pillar) or voluntary pensions (3rd pillar)



10.02.2009

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