BCR: Private pension asset management should be handled by fund managers

BCR has suggested to the Private Pension Commission (CSSPP) to allow specialised companies to take over the management of private pension assets, in a letter sent by Nicolae Danila, chief executive of the BCR, to the CSSPP chairman, Mircea Oancea. In other words, companies in charge of managing mandatory private pensions (the second pillar) should, according to the BCR, outsource the actual management of the assets of the pension fund to an asset management company. This alternative is not clearly regulated at the moment, prompting Danila to recommend a norm, which would allow this outsourcing. The BCR financial group, which includes the biggest bank on the market in terms of assets, is involved in all sectors of the private pension market. The bank is already authorised as a depositary for the assets of pension funds, both for the 2nd pillar, and for the 3rd pillar (voluntary pensions). The life insurance company of the group already manages voluntary pensions (through the BCR Prudent fund).