Optional private pensions assets, below expectations

According to estimates by Private Pension System Supervisory Commission (CSSPP) President, Mircea Oancea, prior to the market being launched, the system could have managed funds worth €50 million by the end of 2007. However, latest figures published by CSSPP show that assets in the past seven months of the optional private pension fund amount to only some €2.6 mln.
The market leader is currently BCR Asigurari de Viata, administrator of the BCR Prudent pension fund, which secured in excess of 10,000 subscribers, and has assets exceeding €1 mln.

A subscriber can pay a monthly 15 percent of his or her income as contribution to a private pension fund, and may benefit from a private pension when s(he) turns 60.