Generali to offer voluntary pensions in four months

Generali Fond de Pensii is preparing to enter the voluntary private pension market (pillar III) the company’s general manager Ion Vreme told ZF. The company will manage one voluntary medium-risk pension fund at first. “We are now working on the necessary documentation to get our licence and on the issue prospectus of the fund. We hope to be able to start selling in four months, after the licensing process is completed, but this is mostly up to our shareholders, who will decide on a capital increase to back this new operation,” Vreme said. Generali will enter the voluntary pension segment with the mandatory private pension company Generali Fond de Pensii, the third largest player on this market, which has about 10% of the total number of clients. Five management companies and seven funds currently operate on the voluntary pension market, while other players are getting ready to tap into the business. Generali is the second company to announce its involvement on the pillar III market this year, after Asirom, which will handle voluntary pensions through its company Asirom Concordia (now pending licensing for voluntary pension management).