SEITAN: 2008 will bring 200,000 clients for voluntary pensions, at the most
The voluntary pensions market (pillar III) might experience a maximum increase by 200,000 in the number of participants this year, compared to the approximately 56,000 at the end of last year, states Mihai SEITAN, director general of the FINCOP pension broker. During the mandatory pension campaign, FINCOP was the market’s second largest pension broker, the company’s next step consisting of selling voluntary pensions, soon to start.
"I don’t think we’ll go beyond 200,000 - 250,000 participants for pillar III this year. Only a positive economic change could enhance the increase in the number of clients beyond this level", stated Mihai SEITAN for www.privatepensions.ro.
For the time being, after the first quarter, the number of participants to the seven voluntary pension funds on the market increased from 56,000 at the end of last year to 76,000 at the end of March. The great stake of the voluntary pension companies is represented by the corporate sales, namely involving the major employers in the system, to contribute to the voluntary pension funds on behalf of their employees. At the moment, the “retail” sales, meaning directly to individuals interested in this product, brought only a small number of clients, said the representatives of the companies administrating voluntary pension funds.
At the end of March, according to the most recent data available, the number of participants to these funds was almost 76,000, and the market’s assets exceeded RON 24.8 million (EUR 6.7 million).
