OTP Pension Broker leaves the mandatory pension market
The Private Pension Supervisory Commission (CSSPP) withdrew the authorization of OTP Pension Broker, upon the company’s request, according to the institutions’ announcement, made today. Thus, the company left the private pension brokerage market.
In the mandatory private pension campaign (pillar II), OTP Pension Broker sold exclusively for OTP Pension Fund, bringing a number of 18,623 clients, ranking 12th among the mandatory pension brokers and intermediaries. OTP Pension Broker ended the contractual (mandate) relations with the 2,676 agents, therefore they were left, together with OTP Pension Broker, without the authorization to sell these products.
Sources from the market confirmed, over the past few months, that OTP Pension Fund, the administration company ranking 12th on the market, reached a preliminary agreement with BT Aegon to sell its client portfolio to this company.
