English
Starting Tuesday 25th, 2010, ING Pension Fund will change its name to ING Pensii Societate de Administrare a unui Fond de Pensii Administrat Privat (ING SAFPAP- ING Pensions Company for the Management of A Private Pension Fund), in order to align its name to that of the other players on the private mandatory pension fund (2nd Pillar).
"The new name will be used on all the forms and documents used in the relationship with customers (individual adhesion act, the prospects of the private pension scheme, the fund"s management contract.), as well as in the official notifications (brochures, website, notices sent to its partners etc)", according to a note the company sent to Mediafax.
The change will not affect the contracts with the current contracts in any way or the operation of the private pension fund, its market strategy or the individual accounts of the participants, the note states.
ING SAFPAP is the largest player on the Second Pillar, with net assets of 1.236 billion lei at the end of April and a market share of 39.32%.
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