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Senate President Tariceanu: Whoever wants to switch to Pension Pillar I needs to make a written application

Inquam Photos / Octav Ganea

Senate President Calin Popescu Tariceanu on Thursday stated that the persons who want to switch their contribution to the pension pillar I need to make a written application, otherwise they will continue to remain contributors to pension pillar II. 

"Pension pillar II is a mandatory contribution of the employed, to a pension that is privately managed, unless the other contributions that go to the social insurance fund. There are some people who claim that the benefits returned by these contributions to pillar II are not enough and that there should exist the possibility of a free option, so that everybody will be able to contribute further to pillar II, if that is what the respective person wants, or switch to pillar II the entire contribution, which is also good. Whoever wants to have a privately managed pension, outside the pension system, needs to use the so-called pillar III, which means that it makes a private contribution that is privately manager, which is a normal option, which I, in fact, recommend, since I am a person who believes in the virtues of the free market. We believe that things should be like this: whoever wants to switch to pension pillar I need to make a written application for that, and the others, who don't want this, will stay with pillar II," said Calin Popescu Tariceanu, at the Senate. 

He claims that those who contributed to the pension pillar II in the past ten years "did not lose."



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