Eleven pensions administrators at most to conclude contracts in 2008
Nine o'Clock - 29 Februarie 2008
Maximum 10-11 administrators authorized to conclude compulsory pensions will remain in the Romanian market until the end of this year, declared yesterday, at a seminar, the general manager of ING Fond de Pensii, Radu Vasilescu, according to Rompres.
The same also stressed that ING has proposed to raise the level of fiscal deductibility to EUR 1,000 per year, and to have the level of deductibility for the contributions related to the optional pensions cumulated by one of the payers, if the employer or the employee refuse to contribute. “I consider that raising the level of fiscal deductibility to EUR 1,000 per year would become relevant for the participants,” said Vasilescu. The main three players on the optional pensions market from Romania are ING Fond de Pensii, Allianz Tiriac Fond de Pensii and Generali Fond de Pensii.
The campaign for the Romanians’ accession to a private compulsory pension fund (pylon II) began on September 17, 2007 and closed on January 17, 2008.
According to legislation, a percentage of two per cent of the total contribution of 9.5 per cent for the social insurance paid by each employee will go in the first year under private administration. In the next eight years, the weight will grow annually by half a percentage point, until it reaches a level of six per cent applied to the gross monthly income.
Zepter could give up the business
According to the data of the National Pension House (CNPAS), at the end of the campaign of initial adherence and before the random distribution, four compulsory private pension funds, respectively AG2R, Marfin, MKB and Zepter, have reported less that 2,000 adherents each. The compulsory private pension fund managed by Zepter could be sold in the next two months, declared market sources quoted by HotNews. As for the price, it could rise to EUR 150 per participant, the transaction being expected to bring losses to the shareholders of the company.
Aviva life insurances, sanctioned by CSSPP
The Private Pensions System Supervising Committee (CSSPP) sanctioned the Aviva Life Insurances Company, facultative pensions’ manager, with written warning referring to the release of wrong information to CSSPP and the public, CSSPP announces in a press release issued yesterday. Referring to their activity during November 16, 2007 – January 11, 2008 – Aviva Life Insurances reported a higher number of attendants to the facultative pensions’ fund “Pensia Mea”, according to revised reports transmitted to CSSPP, the supervising authority mentioned.
According to the Committee, AVIVA Life Insurances violated Law No. 204/2006 and later changes and completions referring to facultative pensions and the manager’s deed represents an offence.
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