Over 133,000 Romanians started saving for retirement in 2024 through voluntary private pension funds (Pillar 3), which is 40% more than in 2023, representing a historical record for the number of new clients attracted to the system in a single year, according to a press release from the Association for Privately Managed Pensions in Romania (APAPR).
According to the quoted source, the total number of participants in the 10 voluntary pension funds reached nearly 833,000 at the end of 2024, reflecting the high level of trust the population has in private pensions and in the national economy.
In 2024, these participants contributed a total of 752 million lei to their personal accounts in Pillar 3, which is 25% more than in 2023 and also a record value for the system. The total assets managed by Pillar 3 (net assets) surpassed 5.5 billion lei (1.1 billion euros) at the end of 2024, representing a 17% increase compared to 2023, a historical maximum for Pillar 3. Additionally, the 10 voluntary pension funds made payments amounting to approximately 150 million lei (+32% compared to 2023) to 11,800 beneficiaries (+5% compared to 2023). Total payments made by Pillar 3 throughout its operation (2007-2024) reached 785 million lei to about 91,000 beneficiaries.
Throughout its entire operation (2007-2024), the voluntary pension funds have generated an average annual return of 6%, compared to an average annual inflation rate of 4.6%, according to APAPR calculations. In monetary terms, Pillar 3 has generated a profit for participants of 1.45 billion lei (291 million euros), net of all fees, in addition to the contributions received under management.
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