Pillar II: how to find out your private pension fund and how much money you have accumulated

People enrolled in Pillar II can find out online which private pension fund they are registered with, using an application provided by the Financial Supervisory Authority (ASF). The value of accumulated savings can be checked directly with the fund administrator, who is required to send each participant annual information about their account.

Pillar II complements the public pension system and operates on the basis of individual accounts, in which each participant's savings are recorded.

What is Pillar II and how is the private pension formed

Pillar II represents the privately administered pension system, designed to supplement the public pension. Savings come from a portion of the social insurance contribution (CAS) owed by the participant and are managed by a company authorised and supervised by the ASF.

For employees, CAS is calculated, deducted from the gross salary, and transferred by the employer, along with other tax obligations. A portion of this contribution goes directly to the private pension fund in which the employee is enrolled, so it does not represent an additional deduction from the salary.

The rate for Pillar II is 4.75% of the CAS calculation base, in accordance with Article 43 of Law No. 411/2004. For example, for a gross salary of 6,000 RON, if the entire amount constitutes the calculation base, the Pillar II contribution is 285 RON (6,000 RON × 4.75%).

The funds are recorded in an individual account and invested by the administrator. The accumulated amount depends on the contributions transferred, the investment returns, and the costs borne by the fund.

How to find out which private pension fund you are enrolled with

Those who do not know or cannot remember the name of their fund can use the application available on the ASF platform. Users enter their first name, surname, and personal identification number online, and must confirm that they have read and understood the data processing terms, declare that the information entered belongs to them, and give their consent for its processing.

After completing the fields and clicking the "Search" button, the person can instantly find out, according to the ASF, which Pillar II fund they are enrolled with, provided they appear in the participants' register.

How to check how much money you have accumulated

Once the fund has been identified, the participant can contact the administrator directly to request information about their account. Details of authorised administrators can be found in the entity register on the ASF website.

Another source is the annual statement sent by the administrator, which is mandatory under Law No. 411/2004 and contains the number of fund units held, their value, and the status of the management company.

This statement is free of charge and must be sent by 15 May each year, in accordance with ASF Norm No. 19/2021. The document reflects the account status as at 31 December of the previous year and may be sent either by post to the last registered address, or electronically.

If the statement does not reach the recipient, they can check with the administrator to confirm the registered contact details and the available methods for obtaining account information. For a more up-to-date value than that from the end of the previous year, the participant must contact the management company directly.

How to check contributions through your CNPP account

Contributions transferred to Pillar II can also be viewed through the personal account on the National House of Public Pensions (CNPP) portal, via the Private Virtual Space (SPV), according to the institution.

For the current value of savings, however, the participant must contact the fund administrator directly, as the account balance is calculated based on the number of fund units held and their current value.

What are fund units and how is the account balance calculated

The pension fund collects contributions from multiple participants and invests them. To track each person's savings individually, the amounts transferred are converted into fund units, which are recorded in the individual account.

Each unit represents a share of the fund and has a value expressed in RON, calculated by dividing the fund's net assets by the total number of units. This value may change over time, depending on investment performance.

The amount accumulated by a participant, referred to as the "personal asset", is obtained by multiplying the number of units held by the unit value at the date of calculation. With each new contribution, additional units are added to the account.

Calculation example: if a person holds 1,000 fund units and the value of one unit is, hypothetically, 30 RON, the accumulated amount is 30,000 RON (1,000 × 30 RON). If the unit value rises to 31 RON, the amount becomes 31,000 RON; if it falls to 29 RON, the amount drops to 29,000 RON. This example is hypothetical and illustrates only the method of calculation — in practice, the number of units may also change as a result of new contributions.

Some administrators send participants an email whenever a new contribution is allocated to their account. If the message shows the value of the contribution, this represents only that particular transfer, not the total accumulated savings. For the total amount, the participant should look for the information labelled "account value" or "personal asset", if it appears in the message, or check through other methods made available by the administrator. It is not necessary for the participant to calculate the number of units themselves if they already receive the account value in RON — the number of units and their value are communicated in any case in the annual statement.

How much money will you receive from Pillar II at the end

When the entitlement to a private pension is opened, the amount due is determined based on the value of the personal asset and the rules applicable at the time of payment. If the calculated value were, hypothetically, 30,000 RON, this would represent the accumulated amount taken into account for payment, not a monthly pension of 30,000 RON.

The funds cannot be withdrawn at any time. The right to payment arises under the conditions set out by law, including retirement on grounds of age or retirement due to disability. In the event of death, the entitlements may be claimed by the heirs.

Under the current rules, the eligible person may opt for a lump-sum payment or for the amount to be paid in instalments over a maximum of five years. In the case of instalment payments, the ASF norm stipulates monthly tranches of at least 500 RON, with the exception of the final instalment. Legal deductions and, where applicable, bank charges or postal fees are subtracted from the amounts payable.

Law No. 2/2026 on the payment of private pensions is due to enter into force on 5 January 2027 and contains transitional provisions, so the specific payment arrangements must be verified against the rules applicable at the time of the request.

The amount actually received may differ from the gross sum established for payment. Furthermore, it is not possible to determine precisely from today's displayed balance how much will have accumulated by the time of retirement, as new contributions may be transferred and unit values may change over time. Since the funds are invested in financial markets, the account value may fluctuate — variations considered normal, reflecting the performance of the investments.

The amount accumulated in Pillar II may differ from one fund to another, even for equal contributions, because administrators invest the funds according to their own policies, within the limits set by law, and the investment returns and fund costs are reflected in the unit value.

Why you may be enrolled in a fund you did not personally choose

A person may be registered with a Pillar II fund even if they do not recall having chosen one. Law No. 411/2004 provides that a person who is required to join but does not make a choice within four months of the obligation arising is randomly assigned to a fund by the system administered by the responsible institutions.