Employees in financial and industrial sectors, top voluntary pension clients

The number of subscribers to voluntary pension funds exceeded 110,300 in the first half of the year, with the value of assets reaching 11 million euros. Almost 70% of the clients’ money is invested in T-bills and municipal bonds. Most clients of voluntary pension funds (3rd pillar) work in the financial sector (23%) and in the industrial sector (16%), according to H1 data from the Private Pension Supervisory Commission (CSSPP). The voluntary pensions market reached 110,316 clients at the end of June, which means over 25,000 employees from the financial sector and almost 18,000 from the industrial sector have a voluntary pension. These pension funds, launched onto the market a year ago, are regarded as the only way for an employee to have an income comparable to their salary after retirement. The contribution to voluntary pensions is of up to 15% of the gross average income. Far behind employees in the financial and industrial sectors are those in the trading sector, which account for 6% of the total, while employees in the constructions and in the transport, communications and warehousing sector respectively, account for 3%. As for state employees, they make up just 2% of the funds’ clients, which means that only 2,200 of them have a voluntary pension. CSSPP data reveal that 19% of voluntary pension clients come from Bucharest, 11% from the Muntenia area, 15% from Transilvania and Maramures respectively, 13% from Dobrogea, Moldova – 11%, Banat – 9% and Oltenia – 7%, with the average per county being 2.4%. The number of clients is estimated to reach 200,000 by the end of this year, with the bulk of sales being corporate sales, to companies that buy such products for their employees.