Pension managers in the second pension pillar had a record year
Five pension managers in the second pension pillar―Uniqa, VÚB Generali, Allianz-SP, NN and 365.life―had a record year in 2021, as their combined sales as well as net profit more than doubled to €130.5m and €78.7m, respectively. A strong stock market performance brought them high fees. This year, though, markets are down and the pension managers’ results will not be that stellar. Most clients in the second pension pillar are in conservative funds that did not even beat inflation last year.
