Amelia Balazs
- News
Romanian government approves private pension funds
ROMANIA - Romanians will have private pensions by 2002 after the government gave the go-ahead to universal pension funds (UPFs).
- Features
Romania's pensioners at the crossroads
Nine years on from its historic revolution and Romania’s pension scheme is still controlled by the government. The pension system is funded through a proportional earnings-based social insurance tax. The entire old age pensioner population is supported by a 23% contribution from each employee’s gross monthly salary. Simply put, the ...