Mandatory pension market leaders consolidate their position following random allocation

Employees aged under 35 were compelled to join a mandatory pension fund, while those under 45 had the option to do so. Some 332,000 people under the age of 35 did not choose a pension fund by January 17, when the subscription campaign ended, and were assigned randomly to a pension fund last Friday.

The ranking of top pension fund administrators did not change following the random allocation, proportional to the market share of each fund. ING Fond de Pensii is still market leader, with 1.38 million subscribers and a 33.2 percent market share, followed by Allianz-Tiriac Pensii (25.63 percent market share) and Generali Pensii (9.37 percent).

Eighteen mandatory private pension funds are operating on the local market.