Payments in Pillar II of pensions have doubled in 2025: Almost 80,000 Romanians have collected over 2.7 billion lei. Most wanted all the money at once
Privately managed pension funds (Pillar II) last year paid around 2.73 billion lei to 77,503 Romanian participants or beneficiaries, more than double compared to 2024, most choosing to receive all the money at once, according to a report published on Friday by the Financial Supervisory Authority (ASF). This year, the current payment legislation is still in force, which provides for two options: either the collection of the entire accumulated amount as a single payment, or its installments as equal monthly payments, for a maximum of 5 years. The new law by which Romanians will only be able to withdraw 30% of the money in a single installment, and the rest monthly for 8 years, will apply from January 5, 2027.
How many Romanians participate in Pillar II
At the end of last year, more than 8.46 million Romanians participated in the privately administered pension system (Pillar II), an increase of 2.06% compared to the same date the previous year.
The first three privately managed pension funds according to the number of participants, FPAP NN (25%), FPAP AZT Viitorul Tău (20%) and FPAP Metropolitan Life (14%), accumulate a percentage of 59% of the total number of people registered in the system.
The total assets of private pension funds reached the level of 209.03 billion lei at the end of December last year, a significant increase of 34% compared to the same period of the previous year.
Relative to the size of the economy, the total assets of the private pension system reached about 11% of GDP, strengthening its role as a major institutional investor and as a source of financing for the real economy, says ASF.
How much money is in the accounts
At the end of December 2025, the average asset value of a participant in the privately administered pension system was 24,063 lei, registering a 31% increase compared to the same period of the previous year.
The distribution of the value of the participants' accounts shows a high concentration, with 70% of the assets held by only 25% of the participants. The largest account has a value of 3.55 million lei, and the smallest has a value of 1 lei.
At the same time, 20% of the participants have assets below the value of 1,792 lei.
What payments were made last year
During 2025, net personal asset payments amounting to approximately 2.73 billion lei were made to 77,503 participants or beneficiaries.
Of the total amount of payments made, a percentage of 81% is related to the opening of the right to pension, 7.4% as a result of the death of the participant and 11.6% as a result of invalidity.
In 2025, as a method of payment of the net personal asset, single payments were made for 69% of the participants/beneficiaries, while the percentage of those in installments was 31%.
As a result of the opening of the right to pension, one-off payments were made in the amount of 1.48 billion lei and staggered payments in the amount of approximately 737 million lei. Single payments in the amount of 163 million lei and staggered payments in the amount of 38 million lei were recorded to the beneficiaries of the net personal asset as a result of the participant's death.
For disability, the amount of personal net assets paid was approximately 245 million lei related to single payments and 71 million lei through staggered payments.
The largest shares in total net personal asset payments in the first semester of 2025 were recorded by FPAP NN (33%), FPAP AZT Viitorul Tău (25%) and FPAP Metropolitan Life (13%), being also the funds with the largest number of participants.
The payment as a result of the opening of the right to pension represents the largest share in the number of payments of privately administered pension funds (62%).
