Aviva to launch a new Pillar III pension fund in 2008

The timing of the launch of this fund will depend on the authorization process, namely the obtaining of approval, added the company official.

The company is planning to become one of the top three administrators, on both the optional and mandatory private pension fund (Pillar II) segments. “This year, we intend to increase our market share. There is a possibility that we might acquire a fund, but only after we have established the procedure and learned the exact number of subscribers,” said Voicu, explaining that the number of inactive accounts, into which no payments are made, could be very high.

Aviva Asigurari de Viata is present on Pillar II through Aviva Societate de Administrare a Unui Fond de Pensii Privat. Fondul Pensia Viva attracted a total 305,849 subscribers, volume which puts it in fourth place on the market, after ING, Allianz-Tiriac, and Generali, according to statistical data published by the National House of Pensions and Other Social Insurance Rights (CNPAS).

The company’s Pillar III fund is Pensia Mea, with 5,513 subscribers, and assets worth RON 1,498,414 (some € 402,500) at the end of February, up 44.38 percent month-on-month, according to data published by the Private Pension Fund Supervisory Commission (CSSPP).