Ciutan told Mediafax Talks about Private Pensions conference that Pillars II and III are very important besides the public pensions.
“We should encourage youths to get into the system, to contribute, to ask for real salaries, so that the public system would remain credible,” Ileana Ciutan added.
Romania introduced the voluntary private pension segment (Pillar III) in May 2007 and the mandatory segment (Pillar II) a year later. The overall private pension system has assets of EUR4.3 billion.