Pension brokers handle 32% of market

Pension brokers have so far sealed 1.26 million private pension contracts (2nd pillar), which accounts for 32% of the total contracts to join one of the 18 funds, with the top three brokers being AAV, Brokerpool and Fincop. During the initial campaign to join the 2nd pillar, which ran from September 17th, 2007 to January 17th, 2008, the three brokers concluded over 659,033 contracts, which accounted for over 50% of the total number of contracts handled by brokers, according to data from the Private Pensions Supervisory Commission. The remaining 68% contracts were closed directly by the marketing agents of pension fund managers. At the end of the campaign, the number of participants to one of the 18 private pension funds amounted to 3,991,032. AAV sold exclusively on behalf of Aviva Fond de Pensii, which ranked fourth among pension funds, after ING Fond de Pensii, Allianz-Tiriac Pensii and Generali Fond de Pensii. Brokerpool and Fincop closed contracts with several funds.