Vladimír Urbánek (Kurzy.cz)
Pension insurance  |  February 27, 2013 14:42:37

APF: Commentary on the development of pension insurance in 4Q12 - the number of contracts exceeded 5 million

Comment Association of Pension Funds of the Czech Republic to the selected business and financial results for the 4th of pension funds quarter of 2012

·          Number of pension PŘIPOJIŠTĚNÝCH exceeded 5 million people


·          PENSION FUNDS showed the profits CZK 4.8 billion

Regular quarterly survey of the Association of Pension Funds has confirmed expectations that the 4th quarter of last year the number of participants in pension 5 million.

At 31 12th Pension funds in 2012 were registered in total 5,150,415 of pension insurance with a state contribution, representing an annual increase of 551,206 people, ie by 11.98% more (by default at the end of 2011 was 4,599,209 participants). Of this, the 4th quarter of 2012, the number of participants of 474,424 (as of the end of Q3 2012 was 4,675,991 participants). "concentration of interest in participating in the pension to 4 quarter related to the legal deadline, which limited the possibility of concluding a contract just before the end of November. Pension funds have been prepared for this alternative and this extraordinary rise of managed contracts without any problems, "said the president of the Association of Pension Funds of the Czech Republic Karel Svoboda.

Continued growth rate pension market in the 4th quarter of 2012 recorded in other monitored indicators.

The volume of funds registered in favor of pension scheme reached the 4th quarter 246 594 000 000 CZK, a quarterly increase of 3.220 billion (end of Q3 was 243.374 billion CZK). Since the beginning of 2012 (the initial state at the end of 2011 was 232.052 billion CZK), the volume of total savings for pension of CZK 14.542 billion, ieup by 6.26%.

Also, information on the average participant contribution quarterly steadily growing slightly, while in the third quarter of 2012 reached the amount of 449 CZK, 31 12th 2012 the average contribution increased to 465 CZK, ie 3.56%. "We expect to finish in the provision of state benefits, effective from 1 First 2013, will this year also to increase the participants' contributions, which should be at least CZK 300 per month, precisely because of entitlement to state contribution, "commented another participant contributions outlook Karel Svoboda, president of the Association of Pension Funds.

In 4th quarter of 2012 increased the number of participants with employer contribution, which drew 31 Second 2012 total 992,953 employees at an average of CZK 700 per month. The number of participants with employer contribution was the year to increase by 49,338 persons, ie 5.22% (end of 2011 was 943,615 employees) and the average employer contribution for the year 2012 increased by 33 CZK, which is 4 , 9% (compared to an average amount of employer contribution 667 CZK at the end of 2011). "This is to certify that the pension insurance with a state contribution remained stable, popular and widespread employee benefits, despite the impact of adverse economic conditions"added the president of the Association of Pension Funds of the Czech Republic Karel Svoboda.

Even in the 4th quarter of 2012 pension funds pursue a conservative investment strategy, with negligible differences compared to the previous period of the year. Decisive share of managed investment funds (86.3%) were placed in bonds and treasury bills (in the third quarter as it was 88.9%) in shares and participation certificates were invested 1.4% of funds (in the 3rd quarter eg 1.6%) and 9.8% was attributable to term deposits and accounts (eg, in the 3rd quarter 7.0%), 2.5% were other investments (eg, real estate).

Aggregate profit sector in the 4th quarter of 2012 rose to 4.843 billion CZK, which is about 1.604 billion crowns more than in the previous quarter (at 30 9th 2012 was 3.239 billion CZK). Grew profits pension fund pension for participants of 6.35% (as of the fourth quarter of 2011 amounted to CZK 4.554 billion). "Evolution of profit corresponds to changes in the volume of assets managed by pension funds, low interest rates and a very conservative investment approach, which persisted Last year, "explained Charles Svoboda, president of the Association of Pension Funds.

Milan Kantor
Executive Director of APF CR


Quote selected representatives of pension companies

Mojmír Boucník, Chief Financial Officer of AXA for CR and SR, vice president of the Association of Pension Funds:   "Last year was marked by preparations for pension reform, which fundamentally changes the functioning of III. pillars since its introduction in 1994. For the client brings many positive changes, such as increased state contributions, the possibility of an adequate appreciation or cheapening the whole system from the perspective of the client. We believe that these changes will strengthen the role of the future III. pillars of financial security in old age. "

Tomas Matousek, Chairman and CEO of Czech pension insurance company: "Last year confirmed that the Czechs are well aware of the benefits of savings in the third pillar. I think it is only a matter of time before the same or probably more, will hit the second pillar. In fact it can get much higher state aid. What other product will bring you to the deposit of CZK 1,000 government contribution in the amount of CZK 1,500? "

Alex Hatch, Chairman and CEO of Czech Savings Bank - Pension Company, Vice President of the Association of Pension Funds:   "The year 2012 was a significant year pension primarily due to the completion of sales contracts under the old conditions in late November.Moreover, there were significant increase in average deposits of clients by changing the amount of state benefits that motivates clients to store higher amounts for retirement. Perceived as positive and decrease the average age of clients, which reflects the interest of the younger generation of this product. "

Karel Svoboda, Chairman and Chief Executive Officer of the company pension, president of the Association of Pension Funds "People understand that pension reform is primarily an appeal to the need for voluntary pension savings and started accordingly held. Many of those who had no pension, it set up by the end of November, which ended with the possibility to arrange a pension for contemporary conditions. The CSOB Pension companies we recorded the end of last year over 732 000 clients who had agreed pension plan. "



Association of Pension Funds of the Czech Republic (APF CR) is a voluntary association of legal persons. APF CR was founded in 1996 and currently brings together all pension companies operating in the private equity market for retirement savings in the Czech Republic that operate retirement savings plans, additional retirement savings and pension schemes and for this purpose the individual farm income, and transformed the participating funds. The main objective of APF CR is to contribute to the overall stability, reliability and security of private capital savings for retirement.

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APF: Komentář k vývoji penzijních připojištění ve 4Q12 - počet smluv přesáhl 5 miliónů

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