BRD Pension Fund gets ready for voluntary pensions
BRD Pension Fund, the market’s ninth biggest mandatory pensions company (pillar II), is getting ready to submit the authorization file for the license to administrate voluntary pensions (pillar III) as well, stated Damien MARECHAL, CEO of BRD Pension Fund.
When asked whether BRD Life Insurance (a company to be established, now pending authorization) will sell voluntary pensions as well, MARECHAL answered that “We want to maintain a coherent offer, we decided to have BRD Pension Fund in charge with the distribution of Pillar III. We are now preparing the file for CSSPP”. In other words, BRD Life Insurance shall operate in life insurance alone, while the voluntary pension activity shall be added to BRD Pension Fund.
BRD and SOGECAP (the life insurance division of the French financial group SOCIETE GENERALE, owner of the BRD group on the local market) shall be shareholders of BRD Life Insurance and BRD Pension Fund as well. Damien MARECHAL shall operate as Country Manager of SOGECAP on the local market, coordinating both the pensions, and the life insurance activity.
Thus, BRD becomes the third player to announce concrete plans to go on the voluntary pension market this year (pillar III), after the Vienna Insurance Group (through Asirom Concordia) and GENERALI Pensions. BRD Pension Fund is the market’s ninth company for mandatory pensions, with almost 99,000 participants from the 4,156,000 that enrolled for pillar II.
