“For this year, the contribution was 3%. Unlike other countries, which lowered private pension contributions, Romania will increase it,” said Vass.
According to the initial pension calendar, contributions should have been of 3.5% this year and 4% next year, but the Government froze contributions in 2009 citing budget constraints brought about by the economic crisis.
Romania’s mandatory private pension funds had cumulated assets of 5.8 billion lei (EUR1.3 billion) end-September and 5.4 million contributors.