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€27.2 mln subscribed to mandatory pension funds

Publicat la 21.07.2008, 21:00:00

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€27.2 mln subscribed to mandatory pension funds

People under the age of 35 are obliged to subscribe to a mandatory fund (Pillar II of the local pension system), while subscriptions for employees aged 36-45 is optional. Thus, many of the participants are entry-level employees, with lower salaries. Contributions to Pillar II amount to 2 percent of the gross wage.

The average subscription was €8.31, with highest contributions registered at BRD Groupe Societe Generale, at €10.35 per subscriber. The lowest subscriptions were registered at Prima Pensie fund - €6.42.

Total contributions to the private pension funds in May amounted to €27.2 million, 5.7 percent lower than in April 2008.

Three months into the first subscriptions, mandatory pension funds have accumulated a total €81 million.

 

 

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