Romania's Pillar II Pension System Shows 33% Asset Growth in Q1 2026

Romania Pillar II pension assets 33% growth retirement age change

At the end of March 2026, Romania’s mandatory private pension scheme (Pillar II) held assets of about RON 212.5 billion, a rise of roughly 33 % compared with the same period a year earlier and representing 11.5 % of GDP. The total private pension system (including Pillar III) reached RON 220.4 billion. Concentration remains high: 70 % of Pillar II assets are owned by just 25 % of participants, while 20 % have balances below RON 1,834.

The average Pillar II account stood at RON 25,215, up 31 % year‑on‑year. Of the 8.5 million registered participants, just over 4.6 million make regular monthly contributions, amounting to a gross RON 5.77 billion in Q1 2026 (average RON 419 per participant). In March alone, contributions fell 3.5 % to RON 1.81 billion.

Payments of RON 875 million were made to 21,468 beneficiaries, 83 % after pension entitlement, 7.6 % following death and 9.4 % due to disability. Investments continue to focus on domestic securities, with about 64 % in government bonds and 28 % in equities.

Separately, a law change effective 1 July 2026 raises the statutory retirement age for women to 62 years 7 months and lengthens the required contribution period, affecting those born in December 1963 first.