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September 16, 2019
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President Iohannis awaits “more convincing” answers from the Gov’t related to pension Pillar II. CDR: It is necessary to maintain the structure of the pension system

President Klaus Iohannis on Thursday stated, in respect to the explanations provided by the members of the government regarding the pension Pillar II and the money for pensions and salaries, that he awaits “more convincing answers” from them.

“Let’s wait a little bit longer, and maybe we’ll get more convincing answers,” said Iohannis, when asked if he was pleased with the answers the government members provided in respect to the pension Pillar II.

Also, when asked if he was pleased with Prime Minister Viorica Dancila’s answer regarding the money for pensions and salaries, he said: “We are still waiting for that answer.”

With respect to Minister of Finance Eugen Teodorovici’s statement that he was not at liberty to speak about these matters, according to the Constitution, the head of the state stated: “But I am.”

However, Iohannis did not want to give an answer related to the Finance Minister’s statement that the head of the state should take a stand in relation to what happens in the Justice field. “I don’t believe you expect me to talk about such matters with a Duster behind me?,” said Iohannis.

The head of the state also said that “when the right time comes” he will talk with the government members.

 

CDR: It is necessary to maintain the structure of the pension system

 

The Coalition for the Development of Romania (CDR) is asking the Executive to maintain the current structure of the pension system, based on three pillars, and to hike, in the shortest of times, the contribution to Pillar II from 3.75 percent to 6 percent.

The representatives of the more than 25 business associations, bilateral chambers of commerce and confederations have repeatedly warned about the negative systemic impact that would be generated by the decision to give up on the Pillar II Pension Fund or by a potential reduction of contributions to it.

The members of the CDR, as well as other business sector associations, have publicly issued similar messages, emphasising the risks for employees, companies, financial markets and for the Romanian economy as a whole.

Likewise, 15 organisations have issued a joint call on the Government not to destabilise the current architecture of the pension system and to exert efforts to hike the contributions to 6 percent, in line with the timetable stipulated by law and the long-term interests of Romanian citizens.

The public statements seen so far have created confusion and mistrust at the level of the Romanian business community and employees and have already negatively affected Romania’s image in the eyes of potential investors.

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