EnglishGenerali Asigurari has submitted the documentation required for setting up a private pension company - Generali Fond de Pensii - to the Private Pension System Supervisory Commission (CSSPP), according to a press release from the insurer.
"We already have a management team of financial specialists who are working on the strategy to implement pension operations. By August 1st we will have trained a team of marketing representatives able to offer Romanians quality services and the information they need in order to make their own choice about the private pension system, instead of being randomly allocated by the Commission," said Generali Private Pension Project Manager Ioan Vreme.
Generali Fond de Pensii is aiming for some 300,000 customers, equal to approximately 12% of the total market. The Pension System Reform Program indicates that all employees aged up to 35 will have to join a privately managed pension system between August 1st and November 30. Employees aged between 35 and 45 can make this choice anytime, until the age of 45. Those who have to and do not make this choice will be randomly allocated to one of the existing companies.
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