Average yield of private pension funds put at 16.3 pct

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The 11-month average yield of the mandatory privately managed pension funds stood at 16.3 percent, according to a Romanian Private Pension Funds Association (APAPR) release submitted on Monday, December 14.

The private pension funds (Pillar II) reported an average yield of 16.3 percent, while that of the optional private pension funds (Pillar III) stood at 14.8 percent. In annual terms, Pillar II pension funds posted a yield of 17.5 percent.
Pillar II included end-November 4.88 million employees, by 353,000 more (7.8 pct) against end-2008. At least one contribution was paid for 4.53 million participants. Out of the 4.88 million participants, 1.6 millions have voluntarily joined the Pillar II, aged more than 35.

The net assets managed by the 12 pension funds reached over 2.25 billion lei (527 million euros) end-November. He difference between the total net asset of all pension funds and the gross paid contributions, namely 212 million lei, represents the net profit (net of all commissions) posted for the participants in the pension funds. ING, Allianz Tiriac and Generali hold the largest market shares from the pension funds on Pillar II.

As regards Pillar III (optional private pensions), they report 184,000 participants, as their number hiked by 22 percent in 2009 compared to last year. The 13 funds available on this segment had amasses end-November 2009 assets worth 45 million euros, up by 128 percent against end-2008. The 11-month average yield stood at 14.8 percent and at 4.65 percent over the last 12 calendar months. Over the past 12 months, the inflation rate reached 4.65 percent, APAPR informs.

Mandatory funds posted an annualized average yield of 14.97 percent since their launch, while that of the optional funds amounted to 7.77 percent. The optional private pensions market is headed by BCR Prudent (BCR Pensii), ING Optim (ING Viata) and AZT Moderato.

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