Voluntary pensions receive contributions from 14,500 clients

The number of clients that contributed to voluntary pensions exceeded 14,500 in late September, according to data published by the Private Pensions Supervision Commission (CSSPP). Compared with the Commission’s first report (on August 8) the number of contributors increased three and a half times, in less than two months. The sale of these new financial products started in June this year, when the first three funds were authorised – AZT Moderato (managed by Allianz-Tiriac Pensii Private), ING Clasic (ING Asigurari de Viata) and Pensia Mea (Aviva)- all of which carry a medium risk profile. Later, three other funds emerged on the market- one from Allianz, one from ING and one from BCR Asigurari de Viata. The OTP Strateg fund has also been authorised, but has not yet started to collect contributions. The start of the voluntary pensions system this year is regarded as disappointing by the management companies on the market, with sales below expectations. Originally, management companies had estimated they would register around 250,000 clients by the end of the year, but for the time being, the number of clients (who have already signed a contract, regardless of whether they have paid their first contribution) has only approached 10% of this level, i.e. 25,000 clients, according to market estimates.