Banca Transilvania and BT Investments have completed the acquisition of BRD Pensii and the privately managed BRD pension fund, announced in May 2024. With its debut in Pillar 2 and consolidation in Pillar 3, where it is already present through BT Pensii, Banca Transilvania Group’s presence in the Romanian private pension market is growing significantly. Thus, the number of participants managed by the BT Group in Pillars 2 and 3 reaches 800,000, compared to 200,000 when it was only present in Pillar 3, according to Romania Journal.
“Private pensions have become a pillar of national financial stability. If bank savings are the first form of individual accumulation, private pension funds represent the most consistent collective capital reserve for Romanians. They are both a savings tool for the future and an engine of economic development. We are delighted to be the first Romanian-owned administrator in Pillar 2 and to offer Banca Transilvania Group customers different savings options,” says Ömer Tetik, CEO, Banca Transilvania.
Currently, private pension funds in Romania manage approximately €40 billion, representing 11% of the country’s GDP.
The presence of Banca Transilvania Group on the private pension fund market means:
- BT Pensii, administrator of the Pensia Mea and Pensia Mea Plus funds (Pillar 3).
- BT Pensii Plus (BRD Pensii), which manages the BRD fund, which will be renamed Pensia Noastră (Pillar 2). The name changes will take place after receiving the relevant approvals from the Financial Supervisory Authority.
- RON 9.5 billion in assets managed in Pillars 2 and 3, compared to Ron 750 million in Pillar 3.
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