Dynamics of the number of participants in the second pillar of mandatory private pension of Romania during May 2008 – November 2014

Abstract

Abstract

The demographic problems faced by the pension system in Romania and those related to insufficient funds to pay pensions accounted for the reasons that there were introduced in 2007, private pensions, under a new pension system built on three pillars, state pillar and two private pillars. The initial membership of participants periods to the market of mandatory private pension funds lasted four months, taking place in the period  September, 17, 2007 – January 17, 2008. At the end, 4,156,316 people were registered to the 18 pension funds initially authorized of which 322 706 participants were randomly assigned. In this article we propose an analysis of how it evolved the number of participants in Pillar II of mandatory private pensions in Romania in the period following the initial accession, following these aspects: total number of participants enrolled in the Register, the number of participants with individual contributions, the number of participants with contributions paid in the current month, the number of participants with contributions paid in the current month, the number of participants without contributions, the number of participants randomly assigned, the number of participants in Pillar II grouped by age and by gender.

Keywords: mandatory private pension, participants, contributions, Pillar II, random distribution