Over the past eleven months, privately-managed mandatory pension funds (pillar II) had an average return of 16.3% while voluntary pension funds 14.8%.

According to APAPR, since the private pension system has been in place, the mandatory pension funds recorded an annual average real return of 14.97% and voluntary funds had a return of 7.77%.

Until November 30, the number of participants to the Pillar-II pension system increased by 353,000 to 4.88 million from end-2008.

4.53 million participants are active. Of all 4.88 million participants at 12 pension funds, over 1.6 million signed up voluntarily, without being required by the law.

The private pension system (12 funds) aggregate assets under management increased to 2.25 billion lei (€527 million), after collecting total gross contributions of 2.04billion lei in the 19 collection rounds.

The 13 pension funds’ collective assets under custody were 192.1 million lei at the end of November, 128% above end-2008 level, APAPR data show.