Romania Archives - Page 2 of 3 - Pension Policy International

22NovNovember 22, 2022

Romanian govt to hike pensions by 12.5% from January -ruling coalition

Romania's ruling coalition will hike state pensions by 12.5% from January and make cash payments to low-income pensioners throughout the year to help the country's most vulnerable cope with surging inflation, party leaders said late on Monday. The cash payments will vary in size for pensions under 3,000 lei ($622.55) per month, the leaders of the three governing coalition parties agreed. In addition, pensioners with under 1700 lei per month will receive social vouchers worth 250 lei every two months, a...

November 22, 2022

NewsRomania, State Pensions

04NovNovember 4, 2021

Romania labor minister announces pensions increases in January

Romania's Government plans to increase pensions by at least 6% next year while child allowances will go up by 20% from January 1, 2022, the interim labor minister, Raluca Turcan, said on Monday, November 1. "A realistic and sustainable budgetary effort for next year means an increase in allowances by 20% from January 1, so an overall increase in expenses of about RON 350 million per month, in addition to this year's expenditure. Also, pensions will be indexed by at least...

November 4, 2021

News, Slider2021, Public Pensions, Romania

27JanJanuary 27, 2021

Romania. Head of RO pension funds association says too much disclosure has downsides

The pension funds managers will comply with the requirements of disclosing their portfolios every quarter, but this might have an anti-competitive effect, says Radu Craciun, CEO of BCR Pensii and head of the private pension fund managers' association APAPR. The financial market regulator ASF took such a step after public criticism about NN Pensii, the biggest pension fund manager in Romania, investing in bankrupt German company Wirecard. "I have mixed feelings from the quarterly reporting. I can understand the...

January 27, 2021

News, Slider2021, Romania

30SepSeptember 30, 2020

S&P warns Romania planned pension hike could derail economy

S&P Global Ratings warned Romania on Tuesday that a move by parliament to reinstate a massive 40% raise in pensions would prompt a disorderly fiscal correction just as the economy is struggling with the impact of the coronavirus pandemic. Romania's parliament voted this month to raise all state pensions by 40%, undoing a smaller 14% hike by the centrist minority government and opening the way for potential ratings downgrades two months before a parliamentary election. The government, which has...

September 30, 2020

News, Slider2020, Estate Pensions, Political economy, Romania

24SepSeptember 24, 2020

Romania MPs Undermine Austerity Drive With Huge Pension Hike

Romania’s parliament on Tuesday dealt a major blow to the centre-right government’s push to keep the public finances in order by amending the budget to raise pensions by a whopping 40 per cent, instead of 14 per cent, as the original legislation envisioned. Increasing pensions by 40 per cent is an old promise of the opposition Social Democratic Party, PSD, which has the largest number of seats in parliament and tabled the amendment. Besides the PSD, which made...

September 24, 2020

News, Slider2020, Estate Pensions, Romania

21SepSeptember 21, 2020

Romania. The Evolution of the Private Pensions Market in the First Six Months of the Year 2020

The value of the total assets under management, at the level of the entire private pensions system, has reached the amount of 68.57 billion RON, at the date of 30.06.2020, exceeding in Euro equivalent the value of 14 billion, increasing by 6.31%, as compared to December, 2019. Moreover, the share of private pensions in the Gross Domestic Product[1], at the end of June, 2020, was of 6.39%, above the level of December, 2019. 'The economic context in the first...

September 21, 2020

News2020, Private Pensions, Romania

06MarMarch 6, 2020

Romania adds fourth pillar in the legal framework for pensions

Until February 2020, the Romanian legal framework regarding pensions followed the three-pillar model generally promoted by the World Bank. However, a recent enactment (i.e. Law no. 1/2020 on occupational retirement provisions) that entered into force on 7 February 2020, transposing Directive no. 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision, has introduced a fourth pillar into Romania’s legal framework on occupational retirement provisions....

March 6, 2020

News, SliderEurope, Pension design, Romania

21JanJanuary 21, 2020

Romania’s second pillar pension returns at nine-year high

Romania’s second pillar pension funds generated impressive returns in 2019 despite hostile policies from the previous government. According to the Romanian Pension Funds’ Association (APAPR), the seven second pillar pension funds averaged a 12-month nominal, asset-weighted yield as of the end of 2019 of 11.8%, a nine-year high and well above the year’s 4% inflation rate. The previous year the funds returned their lowest ever – and only sub-inflationary yield – of 1% compared to an inflation rate of...

January 21, 2020

News, Slider2020, Europe, Occupational, Romania

14JanJanuary 14, 2020

Occupational pension system enforced in Romania as of February

The Law on Occupational Pensions will enter into force in Romania on February 7, Adevarul daily announced. The provisions of Law 1/2020 indicate how much money the employers and employees can contribute to such funds (Pillar IV) on a monthly basis, the daily commented. Specifically, Law 1/2020 stipulates that the employer decides whether or not to propose to the employee an occupational pension scheme. This has to be included in the employment contract. Then, the employer will sign a...

January 14, 2020

News, Slider2020, Europe, Occupational Pensioms, Romania

09OctOctober 9, 2019

Assets of Romanian pension funds up 26% YOY at end-June

The total assets managed by private pension fund managers (mandatory and voluntary) reached RON 57.43 billion (EUR 12.13 billion) at the end of June, up almost 26% year-on-year, according to data released by the Financial Supervisory Authority (ASF). The ratio of private pensions assets to GDP was 5.80% at the end of June, up from 5.22% at the end of last year. “Private pension funds are important institutional investors in the economy, and the investments they made on the...

October 9, 2019

News, Slider2019, Pension Management, Romania

November 2022

Romanian govt to hike pensions by 12.5% from January -ruling coalition

November 2021

Romania labor minister announces pensions increases in January

January 2021

Romania. Head of RO pension funds association says too much disclosure has downsides

September 2020

S&P warns Romania planned pension hike could derail economy

Romania MPs Undermine Austerity Drive With Huge Pension Hike

Romania. The Evolution of the Private Pensions Market in the First Six Months of the Year 2020

March 2020

Romania adds fourth pillar in the legal framework for pensions

January 2020

Romania’s second pillar pension returns at nine-year high

Occupational pension system enforced in Romania as of February

October 2019

Assets of Romanian pension funds up 26% YOY at end-June