|
|
 |
|
News |
Archive
|
|
|
ING Life Insurance, Romania's market leader in life insurance and voluntary pensions (3rd pillar), will name its new CEO in a conference to be held next week, market sources told www.privatepensions.ro. Bram BOON, the ex-CEO, detached to lead ING's insurance operations in Greece, will also attend the official event. Most likely, the event will take place on Monday or Tuesday, and new CEO of ING Life Romania will be an expat sent from Amsterdam.
Continuare
|
|
The first two weeks of transactions with Romanian state securities
(T-bonds) on the Bucharest Stock Exchange (BSE) showed disappointing
results for the local private pension funds: only two transactions,
each worth RON 1 mln. (EUR 285,000) took place during those first two
weeks after T-bonds got listed at the local stock exchange. Although
the market expects soaring demand for state securities coming from
pension funds, the interbank market still "makes the rules of the game"
when it comes to secondary market T-bonds trading.
During the same two weeks, the volume of trading on the Romanian
interbank market for T-bonds was over 20 deals per day (more than 100
times more than on the BSE), while the total value of these deals was
of over RON 145 mln. (EUR 41,5 mln.) per day, that is 725 times more
than the ones that took place on BSE, according to data published by
the National Bank of Romania and analyzed by www.privatepensions.ro.
Continuare
|
|
|
11.26% of employers surveyed during six editions of the Regional
Private Pensions Forums in Romania stated that voluntary private
pensions are optimal for use as a tool for motivation and retention of
key staff - the percentage is otherwise identical to that of employers
who have praised the efficiency of this savings instrument as "very
high", shows a survey done by PRIMM Insurance & Pensions Magazine
in six major Romanian regions.
Continuare
|
|
|
Only 296 applications for transfer between mandatory private pension
funds (pillar II) were validated by CNPAS, during the first season of
private pensions transfers in Romania, which took place on 1st of
August. The volume of transfers has been practically insignificant,
well below the volume of continuous enrollment into the system, shows
the data provided by CNPAS for www.privatepensions.ro. After three
stages of reporting and validation for continuous enrollment, over
16,500 Romanians have started to save for a mandatory private pension
in this system. What companies gaied and what companies lost the most
clients?
Continuare
|
|
|
The number of accounts left empty (without contributions transferred)
after three rounds of contribution collection for Romania's mandatory
pension funds (2nd pillar) is only 662,000, meaning 300,000 fewer than
the initial figure of 961,000 collected, according to an analysis by
the portal www.privatepensions.ro, based on data by CNPAS (the National
House of Pensions) and CSSPP (Romania's private pensions regulator).
Continuare
|
|
|
Nearly 20,000 companies were registered as new debtors at the public
pension budget in the second quarter of this year, having had no
outstanding debts before, according to data provided by the Romanian
IRS, ANAF to our portal www.privatepensions.ro. Q2 also coincides with
the launch of collection of contributions in the mandatory private
pension funds (2nd pillar). The start was disturbed by local fiscal
indiscipline, which led the initial number of empty accounts in the
system to nearly one million. At the end of H1, 84,213 Romanian
companies had outstanding debts to the public pension budget, worth a
total of EUR 1.5 billion - as against 70,517 companies at the end of
2007, with total debts worth of EUR 1.56 billion.
Continuare
|
|
|
CSSPP, Romania's pensions regulator, is preparing a proposal to
increase the level of contributions paid into the mandatory private
pension system (2nd pillar) from half a percentage point per year to a
percentage point per year, making the level of contributions reach 6%
in 2012, not in 2016, as required by current legislation, market
sources told www.privatepensions.ro. Accelerating the increase in
contributions will help increase the assets of pension funds and will
give participants the opportunity of more consistent private pensions.
Continuare
|
|
|
The number of participants with at least one contribution transferred
to the mandatory private pension funds (pillar II) exceeded 3.5 million
after the first three collection rounds, according to data published by
CSSPP today. The assets of the 14 funds reached 80.65 million euros, as
shown in the same data.
Continuare
|
|
By the end of July, the eight voluntary private pension funds on the
Romanian market reached a total number of 117,169 participants (7,000
more compared to the previous month) and net assets of EUR 13.33
million, up by 17.5% compared to mid-year, according to data published
by the Private Pension Supervisory Commission (CSSPP).
Continuare
|
|
|
The mandatory private pension companies (pillar II) processed and sent
to CNPAS only 322 requests of transfer to other mandatory pension
funds, all received from the participants, stated the management of the
National House for Pensions and Social Security (CNPAS) for the
www.privatepensions.ro portal. The first season of transfers between
mandatory pension funds took place on Friday, the 1st of August, when
the companies reported to CNPAS the participants' transfer requests.
Continuare
|
|
|
RAIFFEISEN Asset Management (RAM), the most recent new entry on the
voluntary private pension market (pillar III) in Romania, started to
sell these products and has already collected the first contributions
from the participants to the fund, RAIFFEISEN Accumulation, according
to data published by the company. Thus, the number of funds active on
this market is now eight, with four more voluntary pension funds
pending authorization at CSSPP.
Continuare
|
|
|
After Bram BOON's transfer to Greece, the new CEO of ING Life Insurance
shall be another expat, sent from Amsterdam, as stated by sources from
the insurance market for the specialized portal www.1asig.ro . Thus,
Cornelia COMAN, the current interim CEO, shall soon be replaced by a
foreign manager, assigned by the ING headquarters to run the insurance
operations from Romania. The new expat to manage ING Life Insurance
shall also be the President of the Board of Directors for ING Pension
Fund, a position previously held by Bram BOON.
Continuare
|
|
On the 25th of August, during the Extraordinary General Assembly, the
shareholders of BCR Life Insurance shall discuss the offer of BCR
Pension Fund Administration regarding the takeover of the voluntary
pension fund (pillar III) BCR Prudent, according to the notification
published by the company. Thus, the BCR Prudent fund might be swiftly
transferred to BCR Pensions, namely it would go back from VIG to ERSTE,
as posted on the privatepensions.ro portal, one and a half month ago.
BCR Prudent is the largest voluntary pension fund (based on
managed assets) from Romania.
Continuare
|
|
|
Private pension companies shall breakeven on all the investments made
for the system's launch within a timeframe of over 10 years, in
average, as stated for the www.privatepensions.ro portal by Radu
VASILESCU, former CEO of market leader ING Pension Fund, in his first
interview for the press after his resignation last week. "The market
shall get a return on its total investments, namely reach the breakeven
point, within a timeframe of over ten years", he said, assessing the
results after the first three months of collecting contributions in the
mandatory private pension funds.
Continuare
|
|
|
The Private Pension Supervisory Commission (CSSPP) submitted a
notification to the Ministry of Economy and Finance (MEF), requesting
the increase of the fiscal deductibility for voluntary private pensions
(pillar III) up to a maximum of RON 3,500 per year (EUR 1,000 per
year), both for the employee and for the employer, stated Mircea
OANCEA, president of CSSPP, for www.privatepensions.ro.
Continuare
|
|
|
Yesterday the management of the Association for the Privately
Administered Pensions from Romania (APAPR) proposed to the management
of CSSPP several measures intended to improve the private pension
system, including new measures for special administration, the increase
of fiscal deductibility for voluntary pensions (pillar III), measures
for the fair assessment of the pension funds' assets and for reducing
the number of participants' fraudulent transfers between mandatory
pension funds (pillar II), according to an announcement made by APAPR
today.
Continuare
|
|
Emilia BUNEA, chief financial officer of ING Life Insurance, shall be
the new CEO of ING Pension Fund, after today's resignation of Radu
VASILESCU, as announced by the ING Group today. "Emilia Bunea, the
current CFO of ING Life Insurance, shall take over the position of
Deputy CEO for ING Pension Fund, once CSSPP endorses the authorization
file submitted by ING Pension Fund in this respect. The company shall
subsequently request the approval for Emilia Bunea to become the CEO of
ING Pension Fund", announced ING.
Continuare
|
|
|
Radu VASILESCU resigned from the management of ING Pension Fund, to
focus on financial consulting, he said for www.privatepensions.ro. ING
Pension Fund is the largest private pension fund administrator
(mandatory and voluntary) on the Romanian market.
Continuare
|
|
|
ING, AIG, BRD and BCR attracted the most "valuable" clients on the
mandatory private pension market (pillar II) according to an assessment
conducted by the www.privatepensions.ro portal, based on data from
CSSPP and CNPAS. The assessment, the very first one in this respect,
underlined the net average assets value for each participant attracted
by the mandatory pension funds, three months after the system started
to collect the contributions.
Continuare
|
|
|
ING Life Insurance became last month the new leader of Romania's
voluntary private pension market (pillar III), based on the
administered net assets, taking over this position from BCR Life
Insurance, according to a survey conducted by the
www.privatepensions.ro portal. ING has already become the largest
voluntary private pension administrator based on the number of
participants to its funds, taking this position from ALLIANZ-TIRIAC
Private Pensions. The fight is close at the top, with many changes of
positions in the ranking.
Continuare
|
|
Articole:
[1 - 20] [21 - 40] [41 - 60] [61 - 80] [»] [»»] |
|
|
|
|
|
|
|
|
|
|
