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Romania: Contributions to second pillar pension system remain at 5.1% in 2017

Romania
25/01/2017
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According to a draft emergency ordinance (the “Draft Bill”), available for public consultation on the website of the Ministry of Public Finance, the 2017 contribution to privately managed second pillar pension funds will remain 5.1%. This was also the level of contribution applied throughout 2016.

The Draft Bill further mentions that from 1 January 2018 the contribution level for privately managed second pillar pension funds will increase to 6.0%. By freezing the contribution for 2017 at 5.1%, the government estimates additional savings to the state budget of RON 1,037.7 million (approximately EUR 466 million).

If you would like to discuss the above in more detail, please contact Florentin Giurgea.

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