30 Aprilie 2009
Private pension market watchdog authorizes another fund
The private pension market watchdog CSSPP authorized today the twelfth optional pension fund, Aviva Pensia Max, which has a high risk profile and is administered by Aviva Asigurari de Viata, NewsIn informs.
The high risk profile corresponds to low risk instruments (securities, bonds issued by foreign non-governmental bodies, other financial instruments with the state's explicit and integral guarantee) that make for 65-50 percent of all the fund's assets.
There are now eleven funds on the optional pension market and ten authorized administrators. The system consisted at the end of March of 162,220 participants and of cumulated net assets amounting to almost 110,5 million lei.
The Romanian pension system was reformed in May 2007. Apart from the traditionally state-collected pensions (Pillar I) and the optional private ones (Pillar III), a new type appeared, the mandatory pensions privately managed (Pillar II).
There are now eleven funds on the optional pension market and ten authorized administrators. The system consisted at the end of March of 162,220 participants and of cumulated net assets amounting to almost 110,5 million lei.
The Romanian pension system was reformed in May 2007. Apart from the traditionally state-collected pensions (Pillar I) and the optional private ones (Pillar III), a new type appeared, the mandatory pensions privately managed (Pillar II).