Mandatory private pension funds (Pillar II) have in the past 16 years, since their launch in 2008, registered an average yield of 7.8% per annum, among the highest in Europe and OECD during this period, with the number of participants in the system now topping 8 million, namely the overwhelming majority of Romania’s working population, in line with data provided by the Romanian association for private pensions APAPR.