Do you know how much money you have in the Pillar II pension fund?

PRIVATE PENSION DOES NOT START AT 65 YEARS OLD. IT STARTS WHEN YOU FIND OUT HOW MUCH YOU HAVE SAVED.

There is a question that almost no one asks when it comes to retirement. No Will I have enough money? , no At what age will I retire? and not even How much will I receive? . 

And a much simpler one: How much money do I already have?

Because, although we almost exclusively talk about pension in the future tense, for almost 8.53 million Romanians there is already a Pillar II account. An account in their name. With money in it.  Maybe it's 12,000 lei, 38,000 lei, 75,000 lei or maybe even more.

And it is interesting what happens at the moment you see that amount.

Suddenly, the pension is no longer an abstract idea that you postpone for "sometime". It becomes something concrete. Become your account.

WE START WITH THE MOST IMPORTANT CLARIFICATION: IT'S YOUR MONEY

Pillar II is the mandatory private pension system in Romania. If you entered the workforce after 2007, before the age of 35, you almost certainly contribute to Pillar II.

Every month, a part of the pension contribution goes into an individual account opened in your name. Today, the contribution is 4.75% of the gross salary.

Translated into money, this means:

• At a gross salary of 8,000 lei, approximately 380 leand arrive every month in your Pillar II account. Almost 4,560 lei in one year.

• At a gross salary of 10,000 lei, approximately 475 lei per month. That is 5,700 lei in one year.

And these are just the contributions.

On top of them are added the results of the investments made by privately managed pension funds over time, that is a yield.

BUT WHY DOES IT MATTER TO CHECK?

Because when you don’t see something, it’s easy to forget that it exists. That’s how it is with the pension too. We know that contributions are made. We know that there is an account, we know that “we should look at it at some point,” only that that moment doesn’t really come.

And when you check for the first time and see the accumulated amount, the conversation changes. We no longer talk about a system, we no longer talk about percentages, we no longer talk about a promise for over 30 years.

We are talking about money that is already in your name.

SO THE FIRST STEP IS NOT TO ASK YOURSELF HOW MUCH YOU WILL HAVE IN PENSION. THE FIRST STEP IS TO FIND OUT HOW MUCH YOU ALREADY HAVE.

Check which Pillar II fund you contribute to, you can do it from тут, and then what is your account value today, directly to the administrator on the site.

You might discover that the future you kept saying you would analyze "later" has already started to be built.

Because the private pension does not start at 65 years old. It starts on the day you find out how much money you have saved so far, and that day is TODAY.