The contribution to mandatory private pensions could freeze at 2% in 2009

For private pension fund administrators, this would mean they will collect €1.5 million less than according to the initial plan, considering that salaries will stagnate in 2009 at their 2008 level.

Payments made by the National House of Pensions and Other Social Insurance Rights (CNPAS) into the Pillar II fund accounts of contributors will amount to some €300 mln in 2008.

“Such a decision would have a major negative impact both on fund administrators and contributors. Moreover, Romania’s image will be affected, because the Association for Private Administered Pensions in Romania (APAPR) will take a stand in the event of such a measure,” Crinu Andanut, APAPR’s President told Business Standard.