Luca Niculescu defends Pillar II pensions and announces priorities for European funds

Luca Niculescu, the minister of Investments and European Projects, said on Wednesday, upon taking office, that money from Pillar II pensions would not be used for other purposes. He stressed that the funds represent the savings of millions of Romanians and amount to approximately 20% of gross domestic product.

“No one is touching Pillar II pensions,” Niculescu said, adding that the system “exists and will continue to exist exactly as it is.” The minister cited the need for predictability in public policy and in managing people’s savings.

Upon taking over the ministry’s mandate, Niculescu also presented the main objectives for the period ahead. These include completing the National Recovery and Resilience Plan by the end of the year, clarifying the amounts that can still be attracted, and accelerating the absorption of cohesion funds.

According to the minister, approximately three billion euros could enter Romania’s economy through the NRRP. The statements come as more and more Romanians receive the money accumulated in their privately managed pension accounts, according to Financial Supervisory Authority data for the second half of 2026.