Almost 8 million euros in management fees returned to second-pillar pension fund members

At the beginning of May, EUR 7,768,047.40 in management fees previously charged was paid to second-pillar pension funds’ members, which reduced the actual amount of the fees charged.

According to the Mandatory Pension Funds Act in force, each pension company is entitled to a maximum amount of the fee reaching 20% of the total amount collected by all pension companies. If a pension company collects a fee exceeding 20% of this amount over a year, it is obliged to refund 55% of the amount of the management fee charged in excess to the Central Register of Insured Persons (REGOS), which then allocates these funds to all mandatory pension funds in proportion to the size of their assets.

The sum amounting to EUR 7,768,047.40 has been therefore allocated and paid into mandatory pension funds as follows:

Allianz ZB d.o.o. društvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima – EUR 2,843,210.02:

OMF category A  -  EUR 68,666.46

OMF category B  - EUR 2,543,342.47

OMF category C  -  EUR  231,201.09

Erste d.o.o. društvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima – EUR 1,256,513.11:

OMF category A  -  EUR  58,451.27

OMF category B  - EUR  1,128,607.18

OMF category C  -  EUR  69,454.66

PBZ Croatia osiguranje dioničko društvo za upravljanje obveznim mirovinskim fondovima d.d. – EUR 1,480,610.36:

OMF category A  -  EUR 100,169.67

OMF category B  - EUR  1,275,110.56

OMF category C  -  EUR  105,330.13

Raiffeisen društvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima d.d.– EUR 2,187,713.91:

OMF category A  -  EUR 50,709.74

OMF category B  - EUR  1,957,221.73

OMF category C  -  EUR  179,782.44

We would like to note that the mandatory pension fund management fee is also prescribed by law; this amount is identical for all pension companies and all categories of pension funds (A, B, C). In accordance with the law, the management fee decreases over years in line with the growth of mandatory pension funds’ assets in the relative percentage, and has now reached the lowest level since their establishment (0.24% on a yearly basis). In the upcoming years it will continue to decrease until it reaches 0.20% in 2029.

At the end of March 2025, mandatory pension funds had EUR 23.8 billion in net assets, and 2,351,519 members. At the same time, open-ended voluntary pension funds had EUR 1.47 billion in net assets, and 473,290 members.