yield

Mandatory private pension funds in Romania (Pillar II) had an average yield of 11.8% in 2019, the highest in the past nine years, the Romanian association for private pensions APAPR said in a statement Thursday.

Net assets of mandatory private pension funds in Romania (Pillar II) stood at RON48.1 billion at the end of November 29018, up 23% on the year, according to financial watchdog data.

Romania sold five-year euro-denominated bonds worth EUR1 billion at an annual yield of 5.17%, 268 basis points above the mid-swap rate, a Finance Ministry official said Thursday.

Several organizations of the civil society proposed, in an open letter to authorities including the president, prime minister and the central bank governor, the introduction of a minimum guaranteed annual yield for mandatory private pensions, equal to annual inflation.