Nearly 900,000 Romanians save for voluntary pensions (Pillar 3), with an average return of 6.1% per year, but APAPR is calling for an increase in tax deductibility.

Currently, 900,000 Romanians contribute to voluntary private pensions (Pillar 3), and 96,000 have already received payments after 18 years of operation. Pillar 3 funds have managed almost RON 6.1 billion, generating a net gain of RON 1.7 billion. APAPR is proposing to increase the tax deductibility limit, which has not been updated since 2009, in order to stimulate long-term saving and reduce pressure on the public pension system. By increasing Romanians' confidence in private pensions, Pillar 3 becomes an efficient savings solution.