pensions
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Increase in voluntary pensions deduction not enough, companies say
The increase in the maximum deduction for contributions paid to voluntary pension funds (the 3rd pillar) is a big step ahead, but there is still a lot of room for growth, according to manage...
RAM: To start with, we will sell voluntary pensions to corporate clients
Raiffeisen Asset Management (RAM), a company that recently launched a voluntary pension fund (3rd pillar), will start off by selling pensions to companies, relying mainly on the credit portf...
Omniasig Pensii: Mandatory pensions to surge in autumn
Around 250,000 university students graduated this year, but not all will join a pension fund because some are already working, whist others will continue their studies and not get a job. How...
First private pensions deal expected towards yearend
The first acquisition on the private pensions market could occur by the end of the year, according to Mircea Oancea, head of the Private Pensions Supervisory Commission (CSSPP). Private pens...
ING sees fastest growth on voluntary pensions
Voluntary pensions fund ING Optim, managed by ING Asigurari de Viata (ING Life Insurance) saw the fastest rise in terms of assets and in terms of number of participants in June, according to...
Voluntary pensions rely on T-bills and banking deposits
Sums placed in listed shares are quite low, while voluntary pension funds prefer investments in T-bills and bank deposits. OTP Strateg, for instance, placed all of its customers' money in ba...
ING receives first fine in private pensions industry: 382,000 euros
ING Asigurari and ING Fond de Pensii have been fined 225,000 RON (62,500 euros), and 1.16 million RON (320,000 euros) respectively, by the Private Pensions Supervisory Commission (CSSPP) for...
BRD ventures into voluntary pensions
BRD Fond de Pensii will launch a voluntary pension fund (pillar III) by September, with another one in the pipeline for the end of the year, Damien Marechal, general manager of the company t...
Private pensions firms start off on the wrong foot with 50m-euro losses
Mandatory private pension companies (pillar II), initially touted as the business of the next decade, ended last year with overall losses worth almost 50 million euros (164.8 million RON), a...