Prime Minister Luca Niculescu says that the second-pillar pension system must not be altered and rejects using the money for financial recovery

Prime Minister Luca Niculescu said on Tuesday, the day his Government was sworn in, that Pillar 2 of the pension system should remain in its current form and that the authorities should not interfere with the system. The clarification was made during his first press conference as prime minister, after he was asked whether the money accumulated in private funds could be used to restore Romania’s financial situation.

Luca Niculescu said that, “normally,” Pillar 2 should not be modified. The prime minister stressed that he had dealt with this subject in the context of Romania’s accession process to the Organisation for Economic Co-operation and Development (OECD).

“Pillar 2 pension reform is not something we should touch,” the head of Government said. The statement represents a position on ideas circulated in previous years, according to which contributions accumulated in the system could become a source for balancing public finances.

The prime minister said that he had not yet analyzed any possible changes in detail and that he would return with information after obtaining more data. He also indicated that ministers in the new Cabinet could provide answers on this subject.

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