CIG Pannónia strategic private pension fund partner integrates peers

EU

CIG Pannónia Life Insurance strategic partner Pannónia Private Pension Fund has integrated peers Évgyűrűk (Growth Rings) Private Pension Fund and the Postás (Postal) Private Pension Fund, CIG Pannónia Life Insurance reported on Monday evening.

CIG Pannónia said that Pannónia Private Pension Fund's membership rose to more than 3,500 following the incorporation of the Growth Rings Private Pension Fund's 2,208 members and the Postal Private Pension Fund's 449 members. Pannónia Fund's private pension assets increased to HUF 8bn following the transaction.

Hungarian members of private pension funds had until the end of January to opt out of a move, along with their assets, back to the state pension pillar. About 97% of members returned to the state pillar, leaving many private pension funds with insufficient membership and assets to operate further.

CIG Pannónia Life Insurance is a B-category issuer at the Budapest Stock Exchange.


ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.