Protection. The establishment of special surveillance for the administrators of voluntary pension funds (Pillar III) will be made for a period which will not exceed six months and will be implemented by a board composed by at least three specialists from the Commission of Surveillance for the System of Private Pensions (CSSPP ).
The regulatory authority in the area launched yesterday, for public debate, the draft rule on the establishment of special surveillance on the administrators of voluntary pension funds. The future legislation aims to protect the interests of the participants or beneficiaries of voluntary pension funds.
On the market of optional pensions operates ING Life Insurance (two funds), Allianz-Ţiriac Pensions (two funds), Aviva Life Insurance (a fund), BCR Life Insurance (a fund) and OTP Garancia Insurance (a fund). Raiffeisen Asset Management, which will launch fund Raiffeisen Aggregation, and Asirom-Concordia may be allowed on this segment of the market.
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