OANCEA: By the end of this year, we shall have 4-5 voluntary pension funds left on the market
"At the moment, we have one voluntary pension fund pending authorization. We expect to have another 3-4 voluntary pension funds authorized by the end of this year. I don’t mean the intention to start on the market, but the funds we actually expect to be authorized and functional by the end of this year", stated today Mircea OANCEA, president of the Private Pension Supervisory Commission (CSSPP), at the seminar organized by ZIARUL FINANCIAR. The number of funds active on the voluntary pension market (pillar III) is currently seven.
Although the head of CSSPP did not give names of the funds expected to go on the pillar III market this year, the companies that might be in this situation are ASIROM CONCORDIA, GENERALI, AEGON, BRD, AIG and others.
Mircea Oancea added that the voluntary pension market will experience a quite slow development this year as well, as the number of participants to such funds is about to reach approximately 200,000 by the end of the year, compared to about 88,000 after the first five months and just a little over 50,000 at the beginning of this year.
"We expect to see maximum 200,000 participants to the voluntary pension funds by the end of 2008. It’s not really what we expected initially, yet the evolution is constant, good", stated OANCEA. He added that he sees pillar III as a very good opportunity for the employers to offer this product - the voluntary pension - as an employment benefit. "The state should encourage long term saving”, added the head of the private pension supervisory authority.
