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

BT Group announced in 2019 its intention to expand its financial services in the private pensions sector by acquiring Certinvest Pensions, which manages the Pensia Mea fund. Certinvest Pensii became BT Pensii in February this year, at which time it was managing over 75 million lei and had 9,500 voluntary pension participants. This was followed by a period of integration of the new company into BT, training and certification 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.

"Just as we are the bank of choice for Romanians, we aim to become the first choice for people who are building their future, those who are working and saving today. Our priority is to create a community where as many active people as possible feel financially prepared for the future. Romania is our home, we are happy to invest here and to support the future in our country" - Gabriela Nistor, Deputy CEO Retail Banking, BT.

Voluntary pension supplements public pension 

Voluntary privately managed pension means money accumulated in a fund for a future pension, which supplements the public pension. Both the employee and the employer can contribute to it on behalf of the employee, as an additional benefit to the salary. The first step towards My Pension is to talk to one of the marketing agents in BT's branches and sign the membership agreement. Both individuals and companies have permanent access to information by opening an online account through the BT Pensions website. After each transfer, BT Pensions informs each My Pension participant by SMS.

Employees with a contract of employment must notify their employer of their individual membership of My Pension, who will withhold and transfer the contribution. Persons with income from self-employment will transfer the amount of the contribution entered in the membership deed to the My Pension fund to the account on the membership deed.

Prepared for tomorrow. What My Pension Means:

• A supplementary income:It is an accumulation fund that a person can benefit from after the age of 60;
• Flexibility: the contribution must be at least 60 lei/month and a maximum of 15% of gross monthly income. The amount can be changed at any time and, moreover, there is the option of suspending contributions for a period and resuming later;
• Tax relief: The monthly contribution to the privately managed voluntary 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 saving, the longer he or she will have a longer investment period until age 60.

According to the data of the National Institute of Statistics, in January this year the average age of the population was 41.7 years, and the largest share in total, the group 40 - 44 years, representing 8.6%. The demographic ageing index has 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 ageing has increased: the population aged 65 and over has exceeded the young population (0-14 years) by 507,000 people. In view of these trends, the usefulness of an additional pension system has emerged, in addition to Pillar I (state pension) and Pillar II (compulsory private pension), namely Pillar III (voluntary privately managed pension).

People interested in My Pension can find information on the bank's financial education platform, Intreb BT.