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1. What is it?

Private pension is a periodic payment made to the participant or beneficiary, in addition to the state pension. It accumulates through contributions to individual accounts and the returns obtained from investments made by pension fund managers. It serves as a form of long-term saving and investing, aiming to ensure a comfortable standard of living during retirement.

2. What does it cover?
  • Supplementing Retirement Income: Provides additional income beyond the public pension, helping to maintain an adequate standard of living after retirement.
  • Financial Security: Offers financial protection in a context where the public pension system might be insufficient due to an aging population and economic pressures.
  • Diversification of Income Sources: By combining state pension with mandatory private pensions (Pillar II) and optional private pensions (Pillar III), a more robust and flexible income assurance system for retirement is created.
  • Investment Returns: Contributions are invested by specialized companies, potentially increasing the accumulated funds due to returns obtained in the financial markets.

3. How to Obtain It?

Joining a Pension Fund:

  • Assess Needs: Evaluate your financial goals and personal needs to decide between Pillar II and Pillar III, or both.
  • Select a Pension Fund: Review the performance and conditions offered by various privately managed funds.
  • Sign the Enrollment Document: Complete and sign the individual enrollment document with the fund administration representative and marketing agent. The document should include the unique number allocated by ASF, the logo, and contact details of the administrator.
  • Provide Necessary Documents: Prepare documents such as an ID and, if applicable, proof of employment.
  • Pillar II Specifics:
    • Mandatory for individuals under 35 years old: They must join a privately managed pension fund.
    • Optional for individuals between 35 and 45 years old: They can choose to participate voluntarily.
    • Automatic Allocation: Those who do not select a fund are randomly assigned to one of the existing funds.
    • Monthly Contributions: A portion of social insurance contributions is automatically directed to the chosen pension fund.
  • Monitor the Account: Periodically check the progress of contributions and the returns obtained.

4. Useful Tips
  • Start Saving Early: The sooner you start, the larger the accumulated fund will be due to the compounding effect of interest.
  • Compare Different Funds: Evaluate the performance, fees, and investment strategies of various funds to choose the best option.
  • Periodically Monitor Performance: Keep an eye on the fund's progress and be prepared to make adjustments if necessary.
  • Diversify Pension Sources: Consider joining both Pillar II and Pillar III to maximize your retirement income.
  • Consult a Financial Specialist: A consultant can help you understand the available options and make informed decisions based on your financial situation and long-term goals.
  • Stay Informed About Legislation: Keep up with legislative changes that may affect the pension system and your rights as a participant.
  • Consider Additional Contributions: If possible, make additional contributions to increase the future value of your pension.
  • Plan for the Long Term: Approach pension saving as a long-term financial goal and integrate it into your overall financial planning.

1. What is it?

Private pension is a periodic payment made to the participant or beneficiary, in addition to the state pension. It accumulates through contributions to individual accounts and the returns obtained from investments made by pension fund managers. It serves as a form of long-term saving and investing, aiming to ensure a comfortable standard of living during retirement.

2. What does it cover?
  • Supplementing Retirement Income: Provides additional income beyond the public pension, helping to maintain an adequate standard of living after retirement.
  • Financial Security: Offers financial protection in a context where the public pension system might be insufficient due to an aging population and economic pressures.
  • Diversification of Income Sources: By combining state pension with mandatory private pensions (Pillar II) and optional private pensions (Pillar III), a more robust and flexible income assurance system for retirement is created.
  • Investment Returns: Contributions are invested by specialized companies, potentially increasing the accumulated funds due to returns obtained in the financial markets.
3. How to Obtain It?

Joining a Pension Fund:

  • Assess Needs: Evaluate your financial goals and personal needs to decide between Pillar II and Pillar III, or both.
  • Select a Pension Fund: Review the performance and conditions offered by various privately managed funds.
  • Sign the Enrollment Document: Complete and sign the individual enrollment document with the fund administration representative and marketing agent. The document should include the unique number allocated by ASF, the logo, and contact details of the administrator.
  • Provide Necessary Documents: Prepare documents such as an ID and, if applicable, proof of employment.
  • Pillar II Specifics:
    • Mandatory for individuals under 35 years old: They must join a privately managed pension fund.
    • Optional for individuals between 35 and 45 years old: They can choose to participate voluntarily.
    • Automatic Allocation: Those who do not select a fund are randomly assigned to one of the existing funds.
    • Monthly Contributions: A portion of social insurance contributions is automatically directed to the chosen pension fund.
  • Monitor the Account: Periodically check the progress of contributions and the returns obtained.
4. Useful Tips
  • Start Saving Early: The sooner you start, the larger the accumulated fund will be due to the compounding effect of interest.
  • Compare Different Funds: Evaluate the performance, fees, and investment strategies of various funds to choose the best option.
  • Periodically Monitor Performance: Keep an eye on the fund's progress and be prepared to make adjustments if necessary.
  • Diversify Pension Sources: Consider joining both Pillar II and Pillar III to maximize your retirement income.
  • Consult a Financial Specialist: A consultant can help you understand the available options and make informed decisions based on your financial situation and long-term goals.
  • Stay Informed About Legislation: Keep up with legislative changes that may affect the pension system and your rights as a participant.
  • Consider Additional Contributions: If possible, make additional contributions to increase the future value of your pension.
  • Plan for the Long Term: Approach pension saving as a long-term financial goal and integrate it into your overall financial planning.
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Over the years, MIB has consistently demonstrated professionalism, dedication, and a deep understanding of our mutual clients' needs.

Our collaboration is built on shared values such as integrity, innovation, and a commitment to providing superior quality services. MIB is not just an insurance intermediary but also a true strategic partner, increasingly contributing to the success and development of Asirom.

Madalin ROSU
CEO - Asirom Vienna Insurance Group

MIB, one of the top 10 brokers nationally, is also among the leading brokers distributing mandatory PAD policies. This not only highlights its success as a business but also under scores its significant social role in raising public awareness about the importance of financial protection for homes.

MIB achieves these results thanks to its excellent market reputation and significant presence across all counties in the country. In 2023 and 2024, MIB increased the number of distributed PAD policies by nearly 30%, making us proud to be partners.

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General Director - PAID

Since the beginning of our collaboration in 2005, Generali Romania has enjoyed a trusted partnership with Millenium Insurance Broker.

We continue to develop this partnership daily, providing smart solutions and services that respect our clients' time and meet their financial protection needs.

Adrian Marin
CEO - Generali

OMNIASIG Vienna Insurance Group has a solid, long-standing collaboration with Millenium Insurance Broker. We have always found in them a reliable partner and a team of professionals we can count on.

Together, we work towards the development of the insurance market in Romania, delivering quality products and services to clients promptly.

Mihai Tecau
Chairman of the Board - OMNIASIG Vienna Insurance Group

A successful and lasting partnership, such as the one we have with the Millenium Insurance Broker team, is built on shared values and the desire to provide our clients with the best products and services.

Congratulations on all that you do every day for your clients, and continued success.

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CEO - Groupama

Insurance is about doing good—good in people’s lives, businesses, and communities. We are proud to have reliable distribution partners like Millenium Insurance Broker by our side.

We share the same dedication to service excellence and have a common mission: to build a future with fewer worries and greater prosperity in Romania. Thank you for the solid partnership and for contributing to making things better.

Virgil Șoncutean
CEO - Allianz-Țiriac Asigurări

Millenium Insurance Broker is a trusted and valuable partner for Romanian Airport Services. 

For over 10 years, they have represented us with professionalism and dedication, consistently finding comprehensive insurance solutions, both nationally and internationally.

Thanks to their efforts, our insurance protection needs have always been optimally covered.

With appreciation and gratitude,

Alexandra Huzuneanu
CEO - Romanian Airport Services

MIB is a trusted partner for the Autonom Group.

I appreciate Ștefan and his team's professionalism, promptness, and swift support.

Marius Stefan
CEO - Autonom

Millenium Insurance Broker has been our insurance service provider since 2019, right from the early days of Bright Communication. Thanks to their team of professionals and their client-focused approach, addressing the increasingly complex business needs of our industry, the relationship between our entities has evolved.  

Today, MIB is one of our main partners. And not just any partner, but the one that protects us from risks.

Jeni Grigorescu
General Director - Bright Communication

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