The minister noted the introduction of private pension funds together with mortgage loans represent some of the things that give credibility to a country’s economy. Starting today, a campaign to withdraw participants to mandatory private pension funds started, this following to be completed in four months.
“Regarding the macroeconomic indicators, Romania became stable and we could say that September 17 ends the transition period in Romania and gives the state another role in the economy. This role means a reduction of the state’s position as an active player in the market and the strengthening of its position as a guarantor of the market,” Vosganian said.
The official explained the privately managed pension funds have a better-than-expected effect over the tax evasion, as none of the persons obtaining illegal revenues will access such a fund. Vosganian noted it is possible some of the Romanians working abroad to choose a private pension fund active in Romania.
The persons forced to choose amongst the 17 privately managed pension are those who are not 35 years old yet and comply with the system’s requirements. People between 35 and 45 years old can choose a private pension fund.
Source: Newsin
