GENERALI will enter the voluntary private pension market
GENERALI Pension Fund, the third mandatory private pension (pillar III) company on the local market, will go on the voluntary private pension market (pillar III) with a medium-risk fund, according to the statement made by the company’s representatives today. "We plan to reach for voluntary pensions a position similar to the one in mandatory pensions", mentioned Ioan VREME, CEO of Generali Pension Fund, during a conference celebrating 15 years of continuous presence on the Romanian market for GENERALI.
GENERALI Pension Fund has 390,000 participants to its mandatory pension fund (pillar II), of which 290,000 were active contributors in the first month (the contributions were transferred on the 20th of May). Thus, the company has a 9.4% market share, according to the number of participants, and 8% share after the first contribution transfer round.
In order to reach this position on the market, GENERALI invested total amounts of almost EUR 43 million (total equity). The company’s share capital is currently in excess of EUR 19 million), GENERALI Pension Fund having now 32 employees and 13,000 marketing agents, who sold mandatory pensions during the initial enrolling campaign.
Five companies are now active on the voluntary pension market, managing 7 funds. At the end of April, the number of participants to these funds was 82,337, and the net assets managed reached EUR 8 million, double the amount compared to the beginning of the year. Other players that might start operating on the voluntary pension market this year are RAIFFEISEN ASSET MANAGEMENT, ASIROM CONCORDIA and AIG.
