Mandatory pension for employees

Do not leave your future to fate – Invest now for a happy and carefree retirement!

  • Know the status of your contributions at all times
  • Invest in a better future
  • Ensure the peace of your family

Mandatory pension for employees

Do not leave your future to fate – Invest now for a happy and carefree retirement!

  • Know the status of your contributions at all times
  • Invest in a better future
  • Ensure the peace of your family

What do I get?

PROTECTION
For your future and an enjoyable retirement

CARE FOR YOUR BELOVED
In case of an unfortunate event your dear ones receive the amounts accrued to your account

COMPLETE INFORMATION
With the 24Pension service you know the status of your contributions at all times

I want to know more

BCR Private Administered Pension Fund brings you the peace you deserve at retirement because it supplements your income.

The contribution is set by law and is paid monthly to your individual account – you are the sole owner of the accrued amount. It is calculated as a percentage of your gross salary and is part of your individual social security contribution.

Here's what you need to know about the privately managed pension fund:

  • It is mandatory for any person under the age of 35 who is employed and/or transfers the CAS (social security contribution) to the state and optional for people aged 35 to 45
  • If you fail to choose your privately managed pension Fund within 4 months of your first employment, then you will be randomly assigned to one of the existing funds on the market. It would be a shame it’s not you who decides on your money, because the money for Pillar 2 is also your money
  • You cannot join simultaneously more than one privately managed pension fund
  • You can always choose to switch from one privately managed pension fund to another depending on your personal preferences and the trust that fund inspires to you

When paying your pension, you benefit from the net contribution guarantee (this is the amount of gross contributions to the privately managed pension fund minus legal fees and possibly transfer penalties).

As a participant, you can always keep up to date with your individual account status on our official website www.pensiibcr.ro  and receive information annually about your personal asset, the number of fund units, or the value of the fund unit through your annual information letter. 

You will not pay anything extra. Your employer pays to the state the individual social insurance contribution (CAS), which is 25% of your gross salary, and the record-keeping institution (CNPP –National House of Public Pensions, Sectoral Pension Houses) transfers part of it (3.75% in 2018) to your individual account.

It’s great to know that your privately managed pension is protected at all times.

Your individual account cannot be foreclosed, assigned, pledged or used for other purposes.

When you reach retirement age or in case of disability, for health conditions that stop you from resuming work, you can apply for the right to a private pension. If the accrued personal net asset will not be enough to obtain a private pension, you will receive the due amount as a single or staggered payment, in equal instalments, amounting to at least RON 500, for a maximum period of 5 years, according to the legislation in force. At the same time, in case of death, your heirs will receive the amounts accrued to your account, in accordance with the legislation in force.

The right to collect the money due in single or staggered payment, in equal instalments, amounting to at least RON 500, for a maximum period of 5 years, belongs to you/your beneficiary.

How much do I pay?

2,5%
applied to monthly gross contributions

0,07% /month
from the total net assets of the Fund after investing, calculated based on the fund's rate of return and the inflation rate

5%
of the personal asset value, which is the transfer penalty if you wish to switch to another provider earlier than 2 years after joining the Fund

 * The commission will be 0.02% per month if the fund's rate of return is below the inflation rate; 0.03% per month if the fund's rate of return is up to 1 percentage point above the inflation rate; 0.04% per month if the fund's rate of return is up to 2 percentage points above the inflation rate; 0.05% per month if the fund's rate of return is up to 3 percentage points above the inflation rate, 0.06% per month if the fund's rate of return is up to 4 percentage points above the inflation rate; 0.07% per month if the fund's rate of return is more than 4 percentage points above the inflation rate

For more detailed information, please check out our BCR Private Administered Pension Fund Prospectus

How do I join in?

1

Please come with your identity card to any BCR branch or simply apply online and we’ll be in touch with you as soon as possible.

2

Fill out and sign the individual membership contract.

3

Activate your 24Pension account at no extra costs and keep track of your pension status in real time.

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