The company aims to control 10 percent of this market, meaning some 150-200,000 contributors, he added. The second pillar of the pension system was officially launched on Monday and is to last three months.
“Our network counts on 2,103 authorized marketing agents and seven brokers. The agents’ average fee for each client is some €30,” said Florea.
The OTP Fond de Pensii representative estimates that the first campaigning day lead to the signing of 150,000 contracts with all authorized pension funds, representing some 5 percent of the total market (2.7-3 million potential clients).
“I think Marius Florea’s estimation is very optimistic,” said Mircea Oancea, president of the Commission Supervising the Private Pension System (CSSPP).
The ING Fond de Pensii Director, Radu Vasilescu, said yesterday that subscription documents signed on September 17 have not yet been centralized, but said Florea’s estimations are rather optimistic.
“All 14 companies should have closed at least 10,000 contracts, but it is hard to believe such thing happened since the first day,” said Vasilescu.
Regarding agents and brokers’ commissions, Florea estimates more than €100 million are to be paid on the entire market. OTP will invest 66 percent of their clients’ contribution into low-risk fixed income instruments, and some 25 percent in listed shares.
Until now, OTP Group invested €9.5 mln on the private pensions market in Romania, to top €15 mln in 2008.
“All 14 companies should have closed at least 10,000 contracts, but it is hard to believe such thing happened since the first day Radu Vasilescu director, ING Fond de Pensii
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