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Skip Navigation LinksHome :: Markets/asset classes :: Emerging Markets :: Central and Eastern Europe :: Private pension insurance accounts grow 3.6% in H1.

Wednesday, September 3, 2008

Private pension insurance accounts grow 3.6% in H1.





Private pension insurance accounts grow 3.6% in H1. The number of individual accounts at private pension funds increased by 3.6% in H1 to 4.08mn at end-June, according to data of the finance ministry. State contributions to the private pension schemes grew by 10.2% y/y to CZK 2.5bn (EUR 99.2mn) in H1. The number of private pension contracts with employers’ contributions grew by 5% in H1 to 1.2mn at end-June. According to data of the line association APF, the profit of local pension funds dropped by 44.6% y/y to CZK 1.46bn in H1 due to the negative development on the stock market. The value of assets managed by pension funds rose 17.2% y/y to CZK 175.9bn at end-June. The market is serviced by 10 funds at present following a large-scale consolidation from 44 funds registered in 1994.







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