Raiffeisen pension funds

What Raiffeisen pension funds does

Raiffeisen mirovinski fondovi is a Croatian pension fund management company, fully owned within the Raiffeisen Group (Raiffeisen Bank International), operating since 2014 under license and supervision of HANFA. It manages both the mandatory (II pillar) component of Croatia's three-pillar pension system and the voluntary (III pillar) component for individuals and employers. Its core product set comprises three mandatory fund categories differentiated by equity exposure: Category A (up to 70% equities, aimed at younger members with 10+ years to retirement), Category B (up to 40%, balanced), and Category C (up to 10%, conservative for near-retirees), alongside an open voluntary fund and employer-specific closed voluntary funds such as those for the Croatian Medical Union, Ericsson Nikola Tesla, and HT Group.

The operating platform is built around a self-service member portal (mojracun.rmf.hr), a mobile application, online enrollment, and a calculator suite for mandatory savings, voluntary savings, pension payout, and employer scenarios. Distribution combines direct online channels, four regional sales offices (Zagreb, Rijeka, Koprivnica, Split), the Raiffeisen Bank branch network, and REGOS/FINA government counters used for mandatory fund category changes. Privredna Banka Zagreb serves as custodian.

The business model is a regulated, fee-based asset management franchise. Revenue comes from annual management fees (0.23% on Fund A NAV), custodian fees (0.017%), one-time entry fees on voluntary funds (waived in recent digital campaigns), and declining exit fees (0.8%/0.4%/0.2% in years 1–3 of mandatory fund membership). Fund A NAV stood at €254.7M as of July 2026 with a 6.73% p.a. return since inception, anchoring a low-fee, AUM-linked revenue base concentrated in Croatia with no disclosed geographic expansion.

Name

Raiffeisen pension funds

Legal name

Raiffeisen društvo za upravljanje obveznim i dobrovoljnim mirovinskim fondovima d.d.

Website

https://rmf.hr

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Raiffeisen mirovinski fondovi is a Croatian pension fund management company within the Raiffeisen Group that manages mandatory (II pillar) and voluntary (III pillar) pension funds for individual members and employer groups across Croatia.

Ownership category

akta.pro rank

Product category

Pension Fund Management

NAICS

Pension Funds (52511), Pension Funds (525110)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSAAAAAJ

Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail)

Financial & Insurance/Asset & Wealth Management/Retail & Mass-Affluent Wealth Management

SECONDARYFSAEABAE

Employer Retirement Plan Advisory (401(k)/Pension)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Wealth & Retirement Advisory

SECONDARYFSAAAGAK

Taft-Hartley / Labor Union & Public Sector Retirement Systems

Financial & Insurance/Asset & Wealth Management/Asset Management — Institutional (Pensions, Endowments, Sovereign)

Keywords

• Pension fund management
• Mandatory pension savings
• Voluntary retirement savings
• Pension asset management
• Retirement income planning

Headquarters

HQ city

Zagreb

HQ country

Croatia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset management fees: Annual management fee charged on the net assets of pension funds under management. For OMF category A: 0.23% annually.
2. Custodian fees: Fees charged by the custodian bank (Privredna Banka Zagreb) for safekeeping of fund assets. For OMF: 0.017% annually.
3. Entry fees: One-time fees charged upon initial enrollment in voluntary pension funds.
4. Exit fees: Fees charged when transferring to another pension fund management company. For mandatory funds: 0.8% in first year, 0.4% in second year, 0.2% in third year of membership. No fee after third year.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Raiffeisen pension funds manages mandatory (II pillar) and voluntary (III pillar) pension funds in Croatia under the Raiffeisen Group. It offers three mandatory fund categories (A, B, C) differentiated by risk profile and equity exposure, plus an open voluntary fund and closed employer-specific voluntary pension funds for group retirement plans. The company also provides supporting digital tools such as savings calculators, a mobile application, and online enrollment.

Product overview

Raiffeisen pension funds operates as a unified platform managing both mandatory (second pillar) and voluntary (third pillar) pension funds. The core mandatory fund portfolio includes three categories differentiated by risk profile and investment strategy: Category A (higher equity exposure for younger members), Category B (balanced approach), and Category C (conservative for near-retirees). The voluntary pension offerings include an open fund available to all individuals plus closed employer-specific funds. The company provides supplementary digital tools including savings calculators, pension payout calculators, employer calculators, a mobile application, and online membership applications. Educational initiatives like Project Budućnost (Project Future) support financial literacy. The platform is regulated by HANFA (Croatian Financial Services Supervisory Agency) and operates within Croatia's three-pillar pension system.

Differentiator

Problem solved

Functional benefit

Brands

• Raiffeisen obvezni mirovinski fond kategorija A: Mandatory pension fund category A - higher risk/higher expected return, suitable for younger members with 10+ years to retirement.
• Raiffeisen obvezni mirovinski fond kategorija B
• Raiffeisen obvezni mirovinski fond kategorija C
• Raiffeisen dobrovoljni mirovinski fond
• Raiffeisen Future Boost
• Mobilna aplikacija Raiffeisen mirovinskih fondova

Products and services

• Raiffeisen obvezni mirovinski fond kategorija A (Raiffeisen mandatory pension fund category A) Mandatory pension fund category A with moderately increased investment risk, targeting members with 10+ years until retirement. Maximum 70% of net assets can be invested in equities from Croatia, EU, or OECD countries.
• Raiffeisen obvezni mirovinski fond kategorija B (Raiffeisen mandatory pension fund category B) Mandatory pension fund category B with balanced risk profile. Maximum 40% of net assets can be invested in equities. Open to all members regardless of retirement timeline.
• Raiffeisen obvezni mirovinski fond kategorija C (Raiffeisen mandatory pension fund category C) Mandatory pension fund category C with conservative risk profile, designed for members closest to retirement. Maximum 10% of net assets can be invested in equities.
• Raiffeisen otvoreni dobrovoljni mirovinski fond (Raiffeisen open voluntary pension fund) Voluntary pension fund (third pillar) offering flexible savings for retirement with state incentive payments and tax benefits for employers and individuals.
• Raiffeisen zatvoreni dobrovoljni mirovinski fond (Raiffeisen closed voluntary pension fund) Closed voluntary pension fund for specific employer groups or industries, enabling employer-sponsored retirement benefits.
• Zatvoreni dobrovoljni mirovinski fond Hrvatskoga liječničkog sindikata (Closed voluntary pension fund of Croatian Medical Union) Closed voluntary pension fund designed for members of the Croatian Medical Union, providing employer-group retirement savings.
• Zatvoreni dobrovoljni mirovinski fond Ericsson Nikola Tesla (Closed voluntary pension fund of Ericsson Nikola Tesla) Closed voluntary pension fund designed for employees of Ericsson Nikola Tesla, enabling employer-sponsored retirement benefits.
• Zatvoreni dobrovoljni mirovinski fond HT Grupe (Closed voluntary pension fund of HT Group) Closed voluntary pension fund designed for employees of HT Group (Croatian Telecom), enabling employer-sponsored retirement benefits.

Quantifiable outcome

• 5% mandatory pension contribution from gross salary accumulates in personal pension account
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Privredna Banka Zagreb (PBZ)coreOthers · 1 January 2021Privredna Banka Zagreb serves as the custodian bank (depozitar) for Raiffeisen mandatory and voluntary pension funds, responsible for safekeeping of fund assets and settlement of transactions.
• Raiffeisen BankcoreOthersPart of the same Raiffeisen Group (Raiffeisen banking group). Raiffeisen Bank provides banking services and distribution channels for pension fund products.
• Raiffeisen LeasingminorOthersLeasing services company within Raiffeisen Group.
• Raiffeisen mirovinsko osiguravajuće društvo (RMOD)coreOthersPension insurance company for payout of pensions from II and III pillar. Related company for pension payment services.
• UNIQA osiguranjeminorOthersInsurance company within Raiffeisen Group offering insurance products.
• REGOS (Središnji registar osiguranika)coreStrategic or Co-development PartnerCentral Register of Insured Persons. Manages allocation of mandatory pension contributions and maintains individual pension accounts. Essential partner in Croatia's mandatory pension system.
• HANFA (Hrvatska agencija za nadzor financijskih usluga)coreOthersCroatian Financial Services Supervisory Agency. Regulatory body overseeing pension fund operations.
• HZMO (Hrvatski zavod za mirovinsko osiguranje)coreOthersCroatian Pension Insurance Institute. Manages state pension (I pillar) and coordinates with II pillar for retirement benefits.
• Zagrebačka burza (Zagreb Stock Exchange)minorStrategic or Co-development PartnerCollaboration on financial literacy education through Raiffeisen Future Boost project. Zagreb Stock Exchange Academy provides educational content on capital markets.
• FINA (Financijska agencija)coreOthersFinancial Agency. Provides physical locations for REGOS services where citizens can change pension fund categories.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Raiffeisen Capital Management: Central asset-management arm of Raiffeisen Bank International, which has repeatedly named RMF 'best pension company in the network.' Internal sister entity providing investment instruments and portfolio management expertise to RMF.
• Generali Investments (CEE): Generali's asset and pension management arm across Central and Eastern Europe, including Croatian pension exposure. Comparable as a broader incumbent with pension offerings in multiple CEE jurisdictions.

Direct peers

• NN Croatia (pension): NN Group's Croatian pension and insurance operations, managing mandatory and voluntary pension funds. Direct peer operating within the same regulatory and competitive environment as RMF.
• Wiener osiguranje (VIG Croatia pension): Vienna Insurance Group's Croatian subsidiary offering life insurance and pension products. Comparable to RMF as part of a wider CEE insurance/pension group serving the same Croatian customer base.
• AZ Fond (Allianz): One of the largest mandatory II-pillar pension fund managers in Croatia (part of Allianz), offering the same A/B/C fund categories to Croatian employees. Directly competes with RMF for mandatory pension contributions and is the most-relevant peer given share and product parity.
• Croatia osiguranje (pension fund management): Domestic Croatian insurer with mandatory pension fund management operations. Direct II-pillar competitor in the same regulated market with comparable product structure and Croatian distribution.
• PBZ Croatia osiguranje (pension): Pension fund manager affiliated with Privredna Banka Zagreb (Intesa Sanpaolo group), offering similar mandatory and voluntary pension products. Backs into the same custodian-bank partner network that RMF uses.
• Erste Plavi (Plavi penzijski fond): Croatian pension fund manager within Erste Group offering mandatory II-pillar and voluntary III-pillar funds with the same A/B/C structure. Operates in identical regulatory framework (HANFA, 5% salary contribution) and competes directly for member allocations.

Regional players

• Triglav Skladi (Slovenia): Slovenian voluntary pension fund manager within Triglav Group. Operates a near-identical multi-pillar pension product structure in a neighboring ex-Yu market with overlapping regulatory heritage.

Emerging players

• Allianz Pension Hungaria: Allianz's voluntary pension fund in Hungary, run under a near-identical EU framework. Sister concept to AZ Fond (Allianz Croatia) and adjacent comparable peer given parallel regulatory and product structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/raiffeisen-mirovinski-fondovi

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Raiffeisen pension funds