The typical profile of the client for voluntary private pensions
Woman, aged 35 to 39, working on the financial market and living in Bucharest - this is the profile of the typical client for voluntary private pensions (pillar III), according to the data published by the Private Pension Supervisory Commission (CSSPP).
According to the CSSPP data, a demographic assessment among the clients of voluntary pension funds indicates that the most numerous sub-group (10% of the total 88,000 participants) consists of women aged between 35 and 39. In a broader perspective, most clients for voluntary pension are 30 to 44 years old (representing half of the client base already attracted on this market).
In geographical terms, most participants to the voluntary pension funds work in Bucharest (19% of the total), Transylvania being the other region well represented here: Central and North-Western part cover 15% of the Pillar III client base. The largest number of participants comes from the urban area (80%), compared to only 20%, representing the rural area share.
According to the same statistics, most voluntary pension clients work in the financial field (23%) - banks, insurance or the capital market - followed by industry (16%) and commerce (6%). The CSSPP data shows that 19% of the voluntary pension clients did not specify the field of activity in their enrolling form.
The voluntary pension market included 87,954 active participants at the end of May (one year after these products were launched), compared to 50,887 at the end of 2007. The market’s assets reached EUR 9.55 million at the end of May and continue to grow. For the end of this year, CSSPP estimates that the total number of participants shall reach 200,000, and the number of authorized and functional funds will increase from 7 to 11-12.
