The private pensions market in Romania reached the end of the first quarter of 2025, to total assets of 165.2 billion lei, up 18% compared to the same period of the previous year and 5.6% compared to the end of 2024.
Romanians raised 165.2 billion lei in private pension funds
As a share in the gross domestic product (GDP), the total assets of the private pension system registered a level of 9.44% at the end of the first quarter, marking a positive evolution over recent years, the Finnancial Supervisory Authority (ASF) informed.
Thus, the private pension system in Romania continued to record new records in 2025, strengthening its position as an essential pillar of long-term financial stability. The constant growth of assets, supported by contributions under climb and solid investment performance, demonstrates the increased confidence of participants in this saving mechanism for the future. Private pension funds provide an important source of future income for millions of Romanians and, at the same time, contribute actively to the development of the real economy.
Pillar 2 of mandatory private pensions
The total value of the assets of the privately administered pension funds (Pillar II) was 159.34 billion lei, on March 31, 2025, increasing by 18.1% compared to the same date of 2024, thus reaching a new historical maximum.
The number of participants registered in the Pillar II system was 8.33 million people at the end of March 2025, slightly increase from 8.29 million people at the end of the previous year.
At Pillar II level, the average contribution of the participants, with contributions transferred in March 2025, was about 403 lei/participant, while on December 31, 2024 its value was 384 lei/participant.
During the first three months of 2025, the contributions transferred to the privately administered pension system were 5.21 billion lei, up about 36% compared to the same period of the previous year.
The weighted average rate of profitability of all privately administered pension funds was 8.11% in March 2025, increasing compared to the end of 2024, when it was 6.19%. At the end of March 2025, the average value of the assets of a participant in the private pension system was 19,306 lei, registering an increase of over 16% compared to the same period of the previous year.
During the first quarter 2025, payments of the net personal asset were made to participants in the amount of 375 million lei for 12,341 participants and beneficiaries.
At the end of March 2025, the government securities and shares remained the main financial instruments in which they invested privately administered pension funds. The placements of privately administered pension funds in government securities represented 67.6%, in slight increase in the level of 67.1% registered on December 31, 2024. At the same time, investments in shares represented a percentage of 23.2% of the total value of the pension funds in Pillar II. Also, the assets were invested in corporate bonds (4.42%) and investment funds (3.13%), the percentage of current accounts and bank deposits being almost 1.7%.
Pillar 3 of optional private pensions
The total value of the assets of the optional pension funds was 5.86 billion lei at the end of March 2025, up 16.4% compared to the same period of the previous year, recording a new record level.
The number of participants registered in the optional pensions system, on March 31, 2025, was 871,972 persons, up 18.4% compared to the same period of 2024.
At the level of Pillar III, the average contribution of the participants, related to March 2025, was about 168 lei/participant, up 6.2% compared to the same period of the previous year.
Between January – March 2025, the contributions transferred to the optional pension system were about 217 million lei, up 28% compared to the same period of 2024.
The weighted average rate of profitability of all the optional pension funds with high risk was 8.73% in March 2025, while the weighted average rate of profitability of all optional pension funds with average risk registered a level of 6.69%.
At the end of March 2025, the average value of an account in the optional pensions system was 6,706 lei, in slight decrease compared to the same period of the previous year.
In the first three months of 2025, payments of the net personal asset were made to participants in the amount of 38.5 million lei for 2,710 participants and beneficiaries.
At the end of March 2025, the state securities and the shares remained the main financial instruments in which they invested the optional pension funds. The investments in government securities represented 66%, in slight decrease compared to the level of 67% registered on December 31, 2024. At the same time, the investments in shares represented a percentage of 25.1% of the total value of the assets of the pension funds in Pillar III. Also, the assets were invested in corporate bonds (3.6%) and investment funds (2.9%), the percentage of current accounts and bank deposits being 1.5%.
