Romania’s mandatory private pension system recorded its strongest annual performance to date in 2025, achieving an average return of 19.2%. According to data from the Association of Private Pension Administrators (APAPR), total net assets reached a historic peak of EUR 39.5 billion (RON 201.6 billion) by year-end, representing an increase of more than 33% compared to the end of 2024. The results were driven by the robust performance of the Bucharest Stock Exchange and improved valuations for