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Fin Min Teodorovici, reluctant to deny suspension of contributions to Pensions Pillar II is pending

Finance Minister, Eugen Teodorovici, has not denied a possible suspension of contributions to Pensions Pillar II, arguing that the Government will have a clear concept to be publicly released.

“All those with whom you have discussed said clearly that an analysis is ongoing. It is a discussion on several scenarios. The conclusion will certainly represent an attractive option for those who pay contributions. The analysis is conducted in order to offer us a choice and the instruments for higher yields,” minister Teodorovici said, ziare.com reports.

After the analysis is completed, transparent discussions will take place on all public figures.

“When the Government will have the evaluation, we’ll discuss all public figures transparently. Any such scenarios – unfortunately some are supported by ignorant people in terms of what is normal and fair – lead to negative consequences in regard to loan costs the Finance Ministry has to pay on the market. I am thinking is the statements made by some politicians, unjustified, should be sanctioned by the law,” Teodorovici said.

“The transfer of contributions (the social security contributions shifted from in 2018 from employer to employee – our note) has led, this year, to a cut of the pension fund deficit by RON 7-8 billion, down from some RON 18 billion in the previous years. This reveals a correct trend,” he added.

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