Allianz-Tiriac passes 10,000 client-mark for voluntary private pensions

Allianz-Tiriac Pensii Private (Allianz-Tiriac Private Pensions) has signed more than 10,000 contracts with participants for its voluntary pension fund. By September 18, the company’s two voluntary pension funds (the 3rd pillar) had so far sealed 10,090 contracts, the company’s management told ZF. Allianz-Tiriac Pensii Private is, for the time being, the only manager to have overshot this mark in terms of voluntary pension clients, followed by ING Life Insurance, AVIVA and BCR Life Insurance. Although the number of participants has exceeded 10,000, the number of contributors to the two funds (clients who have already paid their first contributions) stands at just 5,710 people. The remaining numbers are clients who have yet to make their first contributions to the fund. “Our sales are going well, but have slowed down on the overall market. By the end of the year, we hope to meet our sales target of 35,000 contracts, and 20,000 contributors,” says Crinu Andanut, CEO of Allianz-Tiriac Pensii Private. According to Andanut, sales of voluntary pensions are below the expectations of the overall market, which is still focused on mandatory private pensions (the 2nd pillar). The first contracts for voluntary pension funds were signed in May-June of this year. In the meantime, over 15,000 Romanians have signed contracts with voluntary pension funds, according to estimates.