On Wednesday, Prime Minister Nicolae Ciuca had a meeting with Radu Craciun, President of the Association for Privately Managed Pension Funds in Romania (APAPR), during which they underscored the need to strengthen the sustainability of Pillar 2 pensions.
According to a press release of the Government, the meeting occasioned a presentation of the results of privately managed pension funds in Romania and proposals have been brought to improve the legislative framework and to ensure a better functioning of both the mandatory private pension system (Pillar 2) and the optional private pension fund (Pillar 3).
"Participants analyzed the regulatory framework, highlighting the need to strengthen the sustainability of Pillar 2 pensions. They also underscored the importance of digitizing the functioning of the private pension system, but also the flexibility of the regulatory regime applicable to investments in private pension funds," according to the same source.
The same press release mentions that the professional organization brings together all pension fund managers and depository banks in Romania, the amounts managed by APAPR member companies currently amounting to almost 19 billion euros.
Comentează