Analysis of the Romanian Private Pensions Evolution and Investments

Adina Elena Dănuleţiu () and Dan Dănuleţiu
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Adina Elena Dănuleţiu: “1 Decembrie 1918” University of Alba Iulia, Romania

Annals of the University of Petrosani, Economics, 2018, vol. 18, issue 1, 57-66

Abstract: Transformation of the Romanian pension system into a three-pillar system was one of the most important decision regarding the evolution of pensions. This action was taken as a measure to prevent some of the negative effects generated by the deficits of the public pension fund because of population ageing. Evolution of the second and third pillars in the period 2008-2017 are analyzed under the perspective of the total assets, investments structure or number of participants. Based on data provided by Financial Supervisory Authority (ASF), the evolutions of the two pillars analyzed are relatively similar from the investment structure point of view, but very different as regards the total assets and the number of participants. In our opinion, some of the explanations for such evolutions could be low income of many households or lack of trust in this system from a part of the population.

Keywords: private pension funds; mandatory private pensions; facultative private pensions; investment policies; investment structure (search for similar items in EconPapers)
JEL-codes: G00 G23 (search for similar items in EconPapers)
Date: 2018
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