Romanian Pension Pillar II, the president wonders if govt still has cash for it

Romanian Pension Pillar II, the president wonders if govt still has cash for it

President Klaus Iohannis in Romania urged the ruling coalition government to come round, following the draft bill on suspending contributions to Pensions Pillar II (a pension fund) for six months “arguing that this is an approach at the limit of dilettante toxic governance”, reported.

According to the president as reported by local, the leadership “is playing ping-pong with citizens’ money and the Executive has no right to do so”.


On Monday, Romania’s head had said “I believe you remember, after the investiture of a PSD cabinet, probably of Mihai Tudose cabinet, during the hearings in Parliament, somebody said the Pensions Pillar II will be dissolved. Since then, we see ping-pong is played with statements. It is to be dissolved, it’s not going to be dissolved, it will be nationalised. This is very concerning. Such approach is at the limit of very toxic dilettante governance and I call on the governance to come round, to clarify once and for all the intention regarding Pensions Pillar II.”

A day later, at a presser at Cotroceni Palace he bluntly asked the government to tell the country if there is money in the kitty for the fund, at least if there is enough until the end of 2018.

“Debates are being held about Pension Pillar II. Unfortunately even the PSD members are contradicting each other, saying that the pillar will be either suspended, or it will not, either that it is an assumed project or it is not assumed. It is a total mishmash. Do they not agree on the topic inside the party? It is hard to believe. Some are wondering if this money will be used somewhere else if the Pillar II is suspended. They must provide us with an answer. I think the Government and PSD must publicly give us a researched answer to two questions: What are you up to with Pension Pillar II? Have you still got money for pensions and salaries by the end of the year?”.

PSD’s Liviu Dragnea clarified there is not intention of ‘touching’ the mandatory private pension funds and “asked the media and other parties not to ‘roll out false information’.”….. / IBNA