Clients of Banca Transilvania have the possibility to contribute to the voluntary pension fund Pensia Mea through the over 500 branches and agencies in the country, in order to have a privately managed voluntary pension. The Pensia Mea Fund is managed by BT Pensions, the newest brand of the Banca Transilvania Financial Group and the only Romanian company managing optional pensions.

BT Group announced in 2019 the intention to expand its financial services in the field of private pensions through the acquisition of Certinvest Pensions, which managed the Pensia Mea fund. Certinvest Pensions became BT Pensions in February of this year, at which time it managed over 75 million lei and had 9,500 participants in the optional pension. This was followed by the integration period of the new company into BT, trainings and certifications for 850 marketing agents and pilot stages. At the same time, the number of participants in the Pensia Mea fund increased to over 16,000, and the amount managed to 89.5 million lei.

“As we are the preferred bank of Romanians, we have set out to become the first choice for people who build their future, those who work and save today. Our priority is to create a community in which as many active people as possible feel financially prepared for the future. Romania is our home, we are happy to invest here and support the future in our country” - Gabriela Nistor, Deputy General Director Retail Banking, BT.

Voluntary pension complements the public pension 

Private managed optional pension means money accumulated in a fund for a future pension, which complements the public pension. Both the employee and the employer on behalf of the employee can contribute to this, as an additional benefit to the salary. The first step towards My Pension is the discussion with one of the marketing agents from BT agencies and the signing of the subscription act. Both individuals and companies have permanent access to information by opening a online account through the BT Pensions website. After each transfer, BT Pensions informs each My Pension participant by SMS.

Employees with an employment contract must notify the employer regarding the individual adhesion act to My Pension, which will withhold and transfer the contribution. Persons who have income from liberal professions will transfer in their own name the value of the contribution registered in the adhesion act to the My Pension fund, into the account on the adhesion act.

Ready for tomorrow. What does My Pension mean:

• An additional income:It is an accumulation fund from which a person can benefit after the age of 60;
• Flexibility: The contribution must be at least 60 lei/month and a maximum of 15% of the gross monthly income. The amount can be changed at any time and, moreover, the option exists to suspend contributions for a period, with subsequent resumption;
• Fiscal facility : The monthly contribution to the privately managed optional pension is tax deductible, up to 400 euros/employee and fully deductible for the employer;
• Easy money management: Payment is made directly from the current account or by the employer;
• Sustainable future: The earlier a person starts to save, the longer they will have an investment period until the age of 60.

From the data National Institute of Statistics, in January of this year, the average age of the population was 41.7 years, and the largest share in total, the 40 – 44 age group, representing 8.6%. The demographic aging index increased in Romania from 112.1 (on 1.01.2019) to 115.6 elderly persons per 100 young persons (on 1.01.2020). The phenomenon of demographic aging has intensified: the population aged 65 and over exceeded the young population (0-14 years) by 507,000 persons. Given the trends, the usefulness of an additional pension system has appeared, alongside Pillar I (State pension) and Pillar II (mandatory private pension), namely Pillar III (voluntary privately managed pension).

Persons interested in My Pension have information available including on the bank's financial education platform, Ask BT.