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New private pension fund Stabil authorized on the market, watchdog announces

A new private pension fund called Stabil received the approval of the pension market watchdog CSSPP and will start to function under the management of Generali Societate de Administrare a Fondurilor de Pensii Private.

Stabil has an average risk level and is the 11th player on the market.

CSSPP also decided to give the greenlight to the merger between the private pension fund controlled by Bancpost, which will be absorbed, and that managed by Interamerican.

By the end of the year the optional private pensions market could comprise of over 15 pension funds, as this year their number is expected to increase from 9 to 12, CSSPP head, Mircea Oancea said in November last year.

The government approved the rise of the deductibility margin for optional private pensions to 400 euros per employee starting with 2009, from 200 euros share.

The optional private pension market could go beyond 100 million euros worth assets by the end of 2009 if the increased deductibility margin of 400 euros per employee will result in a double number of participants, Oancea added.

 

Sursa: http://www.newsin.ro

Tags: private pension market stabil

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