The voluntary pension funds (3rd pillar) managed by ING and Aviva are relying on investments in T-Bills, and have invested a large part of their assets in listed shares, reveals recently published data on the funds’ investments up until May 31st. Currently, over 100,000 employees in Romania contribute each month to a voluntary pension fund, while the maximum contribution amounts to 15% of the gross income. ING Clasic, a fund with assets worth 6.1 million RON (1.7 million euros) at the end of May, had around 62% of assets invested in T-Bills, and 20% in municipal bonds. 10% of the clients’ money went into listed shares. As for the Pensia mea voluntary pension fund, managed by Aviva, over 52% of the clients’ contributions were invested in T-Bills and municipal bonds at the end of May, and 19.8% in shares. The fund also invested 23% of the assets in bank deposits and around 5% in mutual funds.
ZF English
ING and Aviva's voluntary pension investments
The voluntary pension funds (3rd pillar) managed by ING and Aviva are relying on investments in T-Bills, and have invested a large part of their assets in listed shares, reveals recently published data on the funds' investments up until May 31st. Currently, over 100,000 employees in Romania contribute each month to a voluntary pension fund, while the maximum contribution amounts to 15% of the gro…