Romania’s Pillar II private pension funds have seen assets under management rise to RON 246.7bn, while net gains generated for participants have surpassed RON 100bn for the first time.

The net assets were held on behalf of 8.5 million participants at the end of July 2026, according to calculations by the Association for Privately Managed Pensions in Romania (APAPR), with total net gains reaching RON 108.6bn.

More than 4.6 million participants contribute regularly to Pillar II, with 4.75 per cent of their gross income paid into the mandatory private pension system as part of Romania’s 25 per cent social security contribution.

The funds have also made total payments of RON 7.9bn to more than 350,000 participants and beneficiaries to date, which APAPR said demonstrates that the system is delivering concrete results beyond the accumulation phase.

Pillar II assets are the population's second-largest financial asset after bank deposits, as well as the main source of long-term savings for Romanians, particularly those on lower incomes.

Approximately 95 per cent of Pillar II assets are invested in Romania, making the system one of the country’s most significant institutional investors, with around two-thirds of assets invested in government bonds and more than a quarter in companies listed on the Bucharest Stock Exchange.

The APAPR said this investment supports the sustainable financing of the Romanian state, while contributing to the development of local companies, economic growth and job creation, while maintaining a prudent risk profile.

The association added that Pillar II has therefore become an essential component of Romania's pension system, in line with established models in developed EU and OECD countries, making an important contribution both to the wellbeing of future pensioners and to the development of the national economy.

APAPR president, Cristian Pascu, said surpassing RON 100bn in net gains was “the clearest evidence” that Pillar II was fulfilling its purpose of turning monthly contributions into long-term savings for participants.

“At the same time, the fact that more than 350,000 people have already received payments from private pension funds demonstrates that this system produces concrete and measurable results even after the accumulation period. After more than 18 years of operation, Pillar II is not only a pension savings mechanism, but also a pillar of economic and financial stability for Romania,” he added.

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