Romanian mandatory private pension market (Pillar II) reached total assets worth 1.57 billion lei at the end of June, up 9.49 percent over the previous month, according to data from the market watchdog CSSPP, NewsIn informs.
They counted 4,358,578 subscribers at the end of June, up 33,484 people versus May.
The highest increase in assets was recorded by the fund managed by Eureko (20.83 percent), while the narrowest advance was suffered by the one administered by Omniforte (8.02 percent).
The fund managed by ING continues to control more than a third of the Pillar II, with total assets of 613.44 million lei at the end of June.
The market watchdog approved the merge between the funds managed by Eureko and Bancpost on June 3. Eureko Pensii announced at the end of February it planned to take over KD Pensii as well. CSSPP also approved the pension fund BCR Fond de Pensii Administrat Privat to take over the Omniforte fund last month.
As many as 13 players currently remained on Pillar II, but the consolidation of the market could sift only nine funds, according to the vice president of CSSPP, Ion Giurescu.
Contributions on Pillar II remained at 2 percent of the gross salary this year owing to the economic crisis, but they should add 0.5 percentage points each year and reach 6 percent of the gross salary in eight years.
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