February 27 (SeeNews) - Net assets under the management of Romanian mandatory private pension funds increased 30% on the year to 32.15 billion lei ($7.53 billion/6.11 billion euro) in January, the financial supervision authority, ASF, said on Monday.
Government securities had the highest share in private pension funds' assets, of 64.37%. Shares came in second with 19.64% and bank deposits were third with a 7.12% share, ASF said in a statement.
The number of contributors to the second pillar of Romania's pension system topped 6.831 million at the end of January, from 6.798 million at end-2016.
At the end of 2016, net assets under the management of Romanian mandatory private pension funds increased 27.5% on the year to 31.46 billion lei.
The second pillar, which is operated by the private pension funds, is sustained by contributions of 5.1% of gross wage mandatory for people under 35 years old and optional for people aged between 35 and 45 years.
Those contributions are managed by Alico, Aripi, AZT Viitorul Tau, BCR, BRD, NN and Vital pension funds, ASF data showed.
(1 euro = 4.5115 Romanian lei)