http://www.privatepensions.ro/ PrivatePensions.ro - Everything about the Romanian private pensions system en Sat, 19 May 2012 14:32:15 GMT PrivatePensions.ro pensii@mxp.ro 30 167 60 http://www.PrivatePensions.ro http://www.PrivatePensions.ro/images/logo.gif http://www.privatepensions.ro/Romanian-private-pension-funds-assets-reach-EUR-1-33bn-article-1-233.htm The net assets under management by the Romanian private pension funds reached EUR 1.33bn at the end of April 2011, data published today by the CSSPP, the pensions watchdog, shows. In local currency, the net value of managed assets surpassed RON 5.43bn, this representing combined figures for both mandatory (2nd Pillar) and voluntary (3rd Pillar) pension funds. Tue, 10 May 2011 21:00:00 GMT http://www.privatepensions.ro/Romanian-private-pension-funds-assets-reach-EUR-1-33bn-article-1-233.htm http://www.privatepensions.ro/OANCEA-Half-of-the-mandatory-funds-participants-own-less-than-EUR-130-in-their-personal-accounts-article-1-232.htm The rather small contribution level and the low contribution density to the mandatory private pension funds (2nd Pillar) are the main reasons why half of the funds' participants currently have less than RON 500 (cca. EUR 130) in their personal accounts with the pension funds, said Mircea OANCEA, Chairman of the CSSPP, the pensions watchdog, talking at a pensions conference recently. The head of the pension markets' supervisory authority also re-stated his belief in the necessity to increase the contribution level faster than the system's initial plans, and also reschedule the contribution calendar to reach 8% instead of 6% in 2016. Mon, 09 May 2011 21:00:00 GMT http://www.privatepensions.ro/OANCEA-Half-of-the-mandatory-funds-participants-own-less-than-EUR-130-in-their-personal-accounts-article-1-232.htm http://www.privatepensions.ro/XPRIMM-s-private-pensions-market-awards-2011-And-the-winners-are-article-1-231.htm The fourth edition of the Private Pensions Market Awards Gala recently emphasized the outstanding market results of 2010, in the context of a year so difficult from both an economical and political perspective. PRIMM Magazine - Insurance & Pensions awards this year were designed to capitalize personal efforts, financial success as well as the ongoing struggle to financially educate the public. Mon, 09 May 2011 21:00:00 GMT http://www.privatepensions.ro/XPRIMM-s-private-pensions-market-awards-2011-And-the-winners-are-article-1-231.htm http://www.privatepensions.ro/CSSPP-Full-disclosure-of-investment-portfolios-of-pension-funds-twice-a-year-article-1-230.htm The Council of the CSSPP, Romania's pensions watchdog, recently approved secondary legislation providing for full disclosure of the investment portfolios of all pension funds twice a year, with a lag of aprox. 3 months. All fund managers have already undergone the first step in this supplementary transparency exercise by publishing detailed investment information for the end of 2010 on their websites. Mon, 09 May 2011 21:00:00 GMT http://www.privatepensions.ro/CSSPP-Full-disclosure-of-investment-portfolios-of-pension-funds-twice-a-year-article-1-230.htm http://www.privatepensions.ro/Proposal-of-full-tax-break-for-voluntary-pensions-waits-for-Parliament-s-decision-article-1-229.htm Romanian MPs have been discussing a law modifying the Fiscal Code during the last few weeks, but the debates were postponed because of domestic political matters. Among the hot issues of the proposed new fiscal regulations was one regarding the extension of tax deductions for contributions made to voluntary private pension funds (3rd Pillar), but this particular amendment is still under scrutiny by the deciding Commissions in the Chamber of Deputies, the lower chamber of the Parliament. The Romanian pensions industry has been supporting this amendment for quite some time now, and the proposal is also favored by the CSSPP, the private pensions' system watchdog. Mon, 09 May 2011 21:00:00 GMT http://www.privatepensions.ro/Proposal-of-full-tax-break-for-voluntary-pensions-waits-for-Parliament-s-decision-article-1-229.htm http://www.privatepensions.ro/Compared-to-the-previous-months-December-brought-an-extra-10-million-in-the-accounts-of-Pillar-II-participants-article-1-228.htm National House of Public Pensions transferred towards Pillar II pension funds, in February, for December as referral month, a total contribution volume of EUR 34.09 million, representing the most consistent sum out of all 2010 transfers. Most likely, it is the result of the end year bonuses that were included in the contribution's calculation base, thus the highest level of medium contributions for 2010, recorded in December LEI 43.76 per participant (approx. EUR 6.50 per participant). The number of participants whose accounts have been fed in December was kept in the ordinary note of the last months, 3.31 million people. Mon, 28 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/Compared-to-the-previous-months-December-brought-an-extra-10-million-in-the-accounts-of-Pillar-II-participants-article-1-228.htm http://www.privatepensions.ro/Guarantee-Fund-Act-was-passed-by-the-Senate-article-1-227.htm The Senate adopted yesterday, 21st February, the Law on the Guarantee Fund in private pensions system. The new Law brings under regulation the establishment, organization and functioning of the Guarantee Fund for private pension's rights and is considering guaranteeing the rights acquired by the participants in the private pension system, in order to protect both the interests of participants and beneficiaries. The positive result of yesterday's vote (48 pro - 41 against, 1 holdback) pushes the project to the next legal phase, Deputies Chamber, with a real chance to browse around parliamentary procedure until June. Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/Guarantee-Fund-Act-was-passed-by-the-Senate-article-1-227.htm http://www.privatepensions.ro/Mircea-OANCEA-we-need-speed-up-contributions-enlargement-in-spite-of-crossing-tough-times-article-1-226.htm "Ideal would be for the whole individual employee contribution to the social insurance budget (10.5% of the income) to go to private administration; not quite easy and there are important budgetary costs. We wish for a financing solution to be found, at a governmental level, in a long term respected program", stated Mircea OANCEA, President of the Private Pensions Supervisory Commission, in the opening of XPRIMM Annual Forecast Meeting - Private Pensions. Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/Mircea-OANCEA-we-need-speed-up-contributions-enlargement-in-spite-of-crossing-tough-times-article-1-226.htm http://www.privatepensions.ro/2010-A-year-with-investment-results-that-exceeded-expectations-article-1-225.htm "It is safe to say that 2010 was a good year hence the real growth over the inflation for the participants. If we turn over to other European pensions market, it is obvious that very few pension funds got positive results. In this context, the yields obtained by the Romanian funds are very good", declared Mihai SEITAN, former Labor Minister, within the XPRIMM Annual Forecast - Private Pensions 2011. Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/2010-A-year-with-investment-results-that-exceeded-expectations-article-1-225.htm http://www.privatepensions.ro/A-peek-into-the-investment-strategies-of-the-Romanian-pension-funds-article-1-224.htm The Private Pensions Supervisory Commission (CSSPP) first published substantially detailed information on pension fund investments recently, revealing both the individual holdings, as well as exposure data on the issuers and maturities of investments made in fixed income instruments. Far from any surprise, the published statistics satisfies the curiosity of certain figures outside the system, revealing the pension funds' vision, as important institutional investors, on Romania's economic sectors, financial markets, inflation, as well as other matters regarding the macroeconomic outlook. Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/A-peek-into-the-investment-strategies-of-the-Romanian-pension-funds-article-1-224.htm http://www.privatepensions.ro/Occupational-pensions-under-debate-pluses-and-minuses-article-1-223.htm Ministry of Labour has posted on its website, the law draft on occupational pensions. Enforcement of this law would enrich the content of the Pillar III private pension, bringing Romanian employees the opportunity to add an additional source of income at the retirement age. Besides its merits in expanding saving opportunities for retirement, the content of the project raises certain questions, the answer of which might strongly influence the willingness, both of the employers and the fund managers, to engage in the development of this new market segment. Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/Occupational-pensions-under-debate-pluses-and-minuses-article-1-223.htm http://www.privatepensions.ro/The-market-in-2011-in-the-eyes-of-the-private-pension-s-actors-article-1-222.htm •    Legal stability •    Increased system financing •    Improved secondary legislation •    Investment enhancing •    Improve and increase communication with the public Mon, 21 Feb 2011 22:00:00 GMT http://www.privatepensions.ro/The-market-in-2011-in-the-eyes-of-the-private-pension-s-actors-article-1-222.htm http://www.privatepensions.ro/Romanian-pension-funds-returned-11-in-the-first-8-months-of-2009-article-1-221.htm In a few words, here is the picture of the Romanian mandatory private pensions market, after the first 8 months of 2009: mandatory pension funds returned and average of 11.31% in the first 8 months of 2009; voluntary pension funds returned an average of 10.73% in the same period; all 25 funds returned net real values (above inflation rate) in the last 12 months; net assets of Romanian pension fund industry surpassed EUR 476mn. Sun, 13 Sep 2009 21:00:00 GMT http://www.privatepensions.ro/Romanian-pension-funds-returned-11-in-the-first-8-months-of-2009-article-1-221.htm http://www.privatepensions.ro/2008-statistics-show-positive-returns-for-the-Romanian-pensions-market-article-1-217.htm The 2008 statistic data of the Romanian private pensions market are now available in complete time series for all the core business indicators. Briefly, the figures show increases at all levels, both in Pillar II and Pillar III. Mon, 09 Feb 2009 22:00:00 GMT http://www.privatepensions.ro/2008-statistics-show-positive-returns-for-the-Romanian-pensions-market-article-1-217.htm http://www.privatepensions.ro/Mihai-BOBOCEA-appointed-Secretary-General-of-APAPR-Romania-s-Pension-Funds-Association-article-1-216.htm APAPR, Romania's Private Pension Funds' Association, has appointed Mihai BOBOCEA as its first Secretary General, starting the 1st of January. His new responsabilities include internal ansd external communication, data gathering and dissemination, studies and research, public affairs and PR and others, the Association noted in a press release. Mon, 12 Jan 2009 22:00:00 GMT http://www.privatepensions.ro/Mihai-BOBOCEA-appointed-Secretary-General-of-APAPR-Romania-s-Pension-Funds-Association-article-1-216.htm http://www.privatepensions.ro/Romania-s-mandatory-private-pension-funds-post-7-nominal-return-for-2008-surpassing-inflation-article-1-215.htm The 14 mandatory (2nd pillar) private pension funds on the Romanian market posted a nominal weighted average rate of return of 6.96% for 2008, surpassing the rate of inflation, according to official data published by APAPR, Romania's pension funds' association. The rate of return stands for the first 7 months of operation for these funds (20th May - 31st December); in this period, the real weighted average rate of return was 2.4%-2.8% above the 4%-4.5% inflation in the same period. Annualized, the rate of return would be 11.29% for the whole 2008, that is about 4% in real terms. Mon, 12 Jan 2009 22:00:00 GMT http://www.privatepensions.ro/Romania-s-mandatory-private-pension-funds-post-7-nominal-return-for-2008-surpassing-inflation-article-1-215.htm http://www.privatepensions.ro/INTERAMERICAN-Pensions-to-merge-with-BANCPOST-Pensions-the-pension-funds-will-merge-too-article-1-214.htm INTERAMERICAN Pensions, the company managing Romania's 6th largest mandatory private pension fund (2nd pillar pensions), will merge with BANCPOST Pensions, which manages the 11th largest fund on the Romanian mandatory private pensions market, sources from the market told www.privatepensions.ro. The transaction will be announced today and needs regulatory approval to begin official proceedings. After the pensions companies will have merged, the two pension funds will merge too. The absorbed entity will be BANCPOST Pensions and its fund. Mon, 15 Dec 2008 22:00:00 GMT http://www.privatepensions.ro/INTERAMERICAN-Pensions-to-merge-with-BANCPOST-Pensions-the-pension-funds-will-merge-too-article-1-214.htm http://www.privatepensions.ro/Romania-s-mandatory-pension-funds-post-5-1-net-return-after-6-months-of-operation-article-1-213.htm ROMANIA. The country's freshly launched mandatory pension funds (2nd pillar pensions) managed to post a net weighted average return of 5.1% for the first six months of operation, according to an analysis by www.privatepensions.ro. The return is above inflation and above expectations, especially considering the effects of the crisis on the financial markets. 11 of the 14 mandatory pension funds on the market managed to post positive returns by betting on state bonds and bank accounts and keeping their equity / stock exposure to a minimum. Wed, 03 Dec 2008 22:00:00 GMT http://www.privatepensions.ro/Romania-s-mandatory-pension-funds-post-5-1-net-return-after-6-months-of-operation-article-1-213.htm http://www.privatepensions.ro/EXCLUSIVE-CSSPP-rejected-the-BCR-OMNIASIG-deal-to-merge-their-mandatory-pension-funds-article-1-212.htm ROMANIA, EXCLUSIVE. CSSPP, Romania's private pensions supervisory authority, voted against the deal proposed by BCR Leasing and OMNIASIG Pensions, in which BCR Leasing was going to buy OMNIASIG's shares, with the ultimate goal to merge the mandatory private pension funds (2nd pillar pensions) managed by BCR and OMNIASIG - CSSPP confirmed exclusively for www.privatepensions.ro, after an official inquiry made by our webportal. OMNIASIG Pensions manages the 10th largest mandatory pension fund on the Romanian market, with a market share of aprox. 1,5%. Thu, 20 Nov 2008 22:00:00 GMT http://www.privatepensions.ro/EXCLUSIVE-CSSPP-rejected-the-BCR-OMNIASIG-deal-to-merge-their-mandatory-pension-funds-article-1-212.htm http://www.privatepensions.ro/Voluntary-pensions-market-135-900-clients-and-EUR-18-mn-AuM-at-the-end-of-October-article-1-211.htm Over 10,000 Romanians became new members in the voluntary private pensions system (3rd pillar) during October, bringing this market at the total figures of 135,900 participants and EUR 18 million net assets, according to an analysis made by www.privatepensions.ro. The total voluntary private pensions market's assets reached EUR 18 million at the end of October, a EUR 2 million growth compared to the end of September. For the end of this year, the most plausible estimations show a total amount of 150,000 participants and about EUR 23 million net assets. Wed, 05 Nov 2008 22:00:00 GMT http://www.privatepensions.ro/Voluntary-pensions-market-135-900-clients-and-EUR-18-mn-AuM-at-the-end-of-October-article-1-211.htm