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Bucharest
July 31, 2021
BUSINESS

IMF agreement doesn’t allow private pension nationalization



The private pension system cannot be nationalized and contributions to Pillar II of privately administered pensions cannot be frozen, as long as Romania’s agreement with the International Monetary Fund (IMF) is in effect, official sources stated yesterday for Agerpres, referring to a series of measures adopted in this respect by other states in the region, such as Hungary and Poland. “During the IMF delegation’s visit to Romania, the issue of freezing contributions to Pillar II pensions to 4% was discussed, as part of target budget collections, but the discussion was ‘underground’ (editor’s note – against the official position), as neither the government nor IMF want it,” the sources said.

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