11 mandatory pension funds are profitable

The market leader, pension fund ING Fond de Pensii, had the best yield, at 9.29 percent. The fund’s net assets, managed by lender ING, rose to RON 277.8 million (€72.3 mln), from €8.6 million at the end of May. ING Fond de Pensii has some 1.34 million subscribers.

The second-largest fund operating on this market, Allianz Ţiriac, with roughly one million subscribers, registered a 4.65 percent yield since it was launched. Its net assets increased to €43.8 million, from €5.26 million at the end of May.
The first contributions to the 14 mandatory pension funds operating on the market were paid in May. Employees younger than 35 are compelled to subscribe to a Pillar II fund, while subscription is optional for those aged 35 to 45. Two percent of an employee’s gross salary is managed by the private pension funds.

At the end of November, 11 of the 14 Pillar II funds were profitable.