Romanian Pvt Pension Fund Assets Seen Up 60% This Year, To Over EUR1.6B

Assets of private pension funds in Romania could top EUR1.6 billion this year, 60% more than in 2010, Mircea Oancea, head of the country’s private pension regulator CSSPP, said Thursday.

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"The estimate takes into account a yield of 10% and the contributions of 3% of the gross wage to be collected," Oancea said at the fourth annual edition of MEDIAFAX Talks about Private Pensions.

Assets of voluntary pension funds (Pillar III) will reach EUR150 million, Oancea said.

According to CSSPP, assets of mandatory pension funds (Pillar II) reached 4.33 billion lei (EUR1=RON4.2051) at the end of last year, up 81.7% from 2009. in the same period, assets of voluntary pensions funds increased 60.8%, to RON328 million.

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