Romanian Pensions 'Remain Stable'
By Steven Dignall, Global Pensions
October 23, 2008
The current financial crisis does not endanger the funding of the private pensions market in Romania, the Comisia de Supraveghere a Sistemului de Pensii Private (CSSPP) has claimed.
The private pensions regulator said it had taken significant measures to ensure the stability and confidence in the system remained optimal.
It said private pension funds mandatory level of liquidity provided the necessary tool to have a diversified portfolio and tackle the turmoil in the markets.
The regulator explained public confidence in the system was growing and said Pillar II received voluntary contributions from an additional three million people at the end of September.
And it said it had continued to strengthen the pension system through the private development and improvement of secondary legislation.
Employers in Romania now contribute 71% of the 125,000 of the voluntary private pensions pillar, Pillar III, while individuals contribute the remaining 29%.
The regulator claimed this was an indication that employers had started to include voluntary private pensions as part of an employees benefits.
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