Insurance and pension brokers have started to show an interest in the distribution of private pensions, a fact proven by the authorisations issued by the Private Pension Supervision Commission (CSSPP). So far, the Commission has authorised 13 insurance brokers and one pension broker to distribute voluntary pensions (the 3rd pillar) and 9 pension brokers for the distribution of mandatory pensions (the 2nd pillar). Under the current legislation, insurance brokers can sell voluntary pensions, but not mandatory ones. In order also to sell these products, an insurance broker needs to set up a separate company, with pension distribution as its sole activity. According to information on the market, the legislation could, however, be modified to also allow insurance brokers to sell mandatory pensions, with no obligation to set up an additional company. Bogdan Andriescu, chairman of the insurance brokers' association (UNSICAR), says up to 50 insurance brokers could show an interest in voluntary pensions and up to 150 brokers could enter mandatory pensions, if the legislation is modified.
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