NN Penzijní společnost, a.s. is one of the eight Czech pension companies licensed to manage state-sponsored pension funds. The company was incorporated as Průmyslový penzijní fond (Industrial pension fund) in 1994. A few years later ING Group became the sole shareholder, and in 2000 the company was renamed to ING penzijní fond (ING pension fund).Commercial register at justice.cz, company ID (IČ) 63078074, NN Penzijní společnost, a.s. In 2004 administrative expenses rose sharply, marketing expenses and personnel expenses were doubled.Annual report of ING Penzijní fond, a.s. for 2004, page 15 (Marketing expenses increased by 115%, personnel expenses increased by 99 %. As the number of employees increased by 39 % y-o-y, rental expenses for office space increased by 65 %) Company's market share subsequently deteriorated from 12% at the end of 2004According to statistics of Association of Czech pension companies, there were 2,949,688 active participants, of which 355,337 had a contract with ING PF (12.05 %) to 8% at the end of September 2014.
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