November 2017

16Nov

Romania should stay the course – funded private pensions the key to sustainable future, PensionsEurope warns

After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns. "Funded pension are vital for future pensions as public pension come increasingly under pressure. Romania has been able to build excellent private pensions and should not start to dismantle...

November 16, 2017
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September 2017

08Sep

Major change. Romania’s second pension pillar could have optional contributions

Under current rules, the contributions are evenly split between the first pension pillar, managed by the state, and the second one, which is managed by private administrators. There is a third pension pillar which is private. “Nobody will dismantle pillar II, nobody will nationalize it, nobody will harm it. (…) It will become optional,” said Tudose in an interview for Digi24. The PM went on to say that the first pension pillar had better results based on the minimum wage, but...

September 8, 2017
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April 2017

13Apr

Romanian SocDem leader lashes at Dutch pension fund manager and financial regulator head for spreading “fake” information

Liviu Dragnea, the head of the Social Democratic Party (PSD), accused the local subsidiary of Dutch insurance group NN of spreading false rumors about the possible nationalization of the local private pension funds and inciting its clients to protests and called for a harsh reaction from the authorities against the company. He also accused the president of the Financial Supervisory Authority (ASF) Misu Negritoiu, a former ING Romania CEO, of having started the whole scandal on the nationalization of private...

April 13, 2017
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