Romanians contribute with 7.1 billion lei to pension pillar II this year, up 20 pct as of 2016

Employees in Romania have contributed this year with 7.1 billion lei to mandatory private pensions, pillar II respectively, by 20 pct more than in 2016, when they transferred 6.9 billion lei into the pensions funds, according to data released on Thursday by the Privately Managed Pensions Association (APAPR) in a press conference.

At the same time, the assets of the private pension funds have reached this year 8.9 billion euro, from 7.3 billion last year and will reach 10.5 billion euro next year. 

Of the total assets, 92 pct are being invested in Romania. Private pension funds hold 14 pct of Romania's government securities, being the second public debt holder, after the banks.