MARFIN submitted the request for withdrawal of the license for pillar II
MARFIN Pension Fund, the market’s smallest administrator of mandatory private pensions (pillar II), submitted a request for withdrawal of the license, in order to leave this business, stated Mircea OANCEA, president of the Private Pension Supervisory Commission CSSPP), for www.privatepensions.ro.
MARFIN managed to attract only 194 participants to its mandatory private pensions fund, being the smallest of the 18 funds on the market. On this occasion, the number of funds shall drop to 17, thus giving the start to the market’s consolidation.
"The 194 participants from MARFIN’s fund shall be equally assigned to the other funds on the market”, stated Mircea OANCEA. CSSPP shall issue a notification with regard to MARFIN’s request for withdrawal of the administration license, stated the Commission’s officials. The representatives of the MARFIN Pension Fund were not available for additional comments.
