Private pension managers have invested 40.8 million euros (rate card figures) in the promotion of private pension products during the first month, according to data provided to ZF by the monitoring agency Alfa Cont. The net sums are smaller than the rate card value, standing at around 10-15 million euros, according to estimates made by companies on the market. This means that companies have invested a net sum of at least 12 million euros in the promotion of private pensions, amid tough competition to attract clients. Television advertisements have been the preferred option for pension companies, accounting for over 90% of total rate card expenses, i.e. 37.8 million euros. The remaining 3 million euros were spent on newspapers, magazines and radio stations, according to data provided by Alfa Cont. On television, adverts that promoted private pensions were broadcast approximately 17,400 times within the first month, in comparison with 1,166 adverts in the written press and 1,870 radio ads. According to the same information, the company that invested the most in advertising in the first month was BCR Fond de Pensii (BCR Pension Fund), which spent over 5.9 million euros (rate card). ING Fond de Pensii, conducted the second highest investments with 4.4 million euros (rate card), whilst Generali ranked third, with 4 million euros (rate card).
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