OTP: Number of Pension Fund members on the rise

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OTP Bank recorded a marked increase in the number of members and savings in the OTP Pension Fund, as compared to data from May 2014, Hungaryʼs largest commercial bank reported in a press release today.

The report noted that the average amount of monthly payments per capita rose by HUF 1,000, which equates to HUF 10,000 in OTP Pension Fund savings per member each month, as compared to the same period a year earlier. The total amount of OTP Pension Fund savings increased by 13% – a HUF 195 bln income in the past twelve months.

"This year, we experienced the successful continuation of last yearʼs positive trends in the form of an increasing number of OTP Pension Fund savings and members," said Csaba Nagy, Chief Executive Officer at OTP Mandatory Private Pension Fund. According to Nagy, 20% of the total pension funds are managed by OTP Bank Group.

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