Number of empty accounts drops below 15% in the mandatory pensions system
ROMANIA. The number of accounts left empty (without any pension
contributions) in the Romanian mandatory private pensions system (2nd
pillar) dropped below 15% of the total number of participants for the
first time, analysis by www.privatepensions.ro shows. The total number
of empty accounts is now below 619,000, that is 343,000 lower than at
the start of collection in May 2008. In May, the weight of empty (dead)
accounts in the system was of over 23%, and now it's only 14.3%. Thus,
the collection degree in the Romanian mandatory private pensions system
surpassed 85%.
For comparison purposes only, it is mentionable that it took Poland, the largest mandatory pensions market in Central and Eastern Europe, no less than 3 years to reach a collection degree of 80% in the mandatory pension funds' market.
Right now, there are 5 funds on the Romanian market with the best portfolios - as regards a weight of empty accounts as low as possible: ING, ALLIANZ-TIRIAC, AIG, BRD and BANCPOST. On the other hand, the two smallest funds on the market, PRIMA PENSIE and KD, also have the largest proportion of empty accounts in their portfolios.
02.09.2008
