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The Financial Supervisory Authority (FSA) said voluntary pension funds have increased compared to last year.
According to specialists in the field, the voluntary pension is a solution for those who want more money in old age than those who come to you from the state or private pension.
The ASF specified that the voluntary pension funds had assets worth more than 2.69 billion lei, as of August 31, 2020, increasing by 13.89% compared to the level registered in August 2019.
Government securities had the largest share of assets, with 1.691 million lei, respectively, 62.82%.
In second place were the shares, with 646,461 million lei (24.01%). Bank deposits ranked third from this point of view, with 94,019 million lei, respectively, 3.49% of total assets.
More than 500,000 Romanians contribute to voluntary pensions
According to ASF data, the value of total assets of the Pillar III pension funds was 2662 million lei, in August 2020, and the value of net assets was 2688 million lei.
The optional private pension funds had 519,503 participants as of August 31, 2020.
The following pension funds are active in Pillar III: Aegon Essential, Azt Moderato, Azt Vivace, BCR Plus, BRD Medio, NN Activ, NN Optim, My Pension, Raiffeisen Accumulation and Stable.
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The optional pension funds provide the opportunity to have an additional income, which helps to maintain the standard of living when the employee no longer works. And at the time of retirement, the man has the money saved for this purpose over the years.
The optional pension is the only pension to which you can contribute up to 15% of your salary. And obviously, the more you give now, the more you will get in old age. In short: it is perfect for those who cannot afford a small pension.
Why you should contribute to an optional pension fund
ASF points out that, in this way, income can be supplemented at the age of completion of the activity, combining the public pension with the private one, including the optional pension.
The best protection for a comfortable future is a solid financial plan. That is why each of us needs a long-term strategy from the first job. The earlier you start building this financial future, the stronger it will be and you will benefit from a more comfortable and carefree old age, says ASF.
