Furthermore, the company is not to launch any optional pension fund this year, she added.
The statement comes as the mandatory private pensions market prepares for mergers and acquisitions. According to market sources, at least three mandatory pension funds are negotiating to sell their client portfolios, while and some middle-sized companies decided to acquire or to merge with smaller fund administrators to increase their market share.
Sources said the portfolio of OTP pension fund, part of Hungarian lender OTP's local subsidiary, is to be purchased by BT Aegon, while the pension fund of international group Zepter prepares for sale negotiations. Omniasig is interested to buy smaller funds to win market share, while Interamerican and Prima Pensie prepare to merge, sources said.
Allianz Tiriac's private pension fund ranks second on the Pillar II market, with more than one million subscribers.
