​The USR asked the Căuși government on Wednesday to abandon a draft emergency decree aimed at abolishing commissions charged by pension fund administrators on contributions paid by 7.8 million Romanians in the second level of pensions (mandatory private pensions) and the third level ( optional private pensions). pension).

The USR claims that the GEO draft submitted for discussion by the Ministry of Labor includes “harmful changes to level 2 pensions, which aim to abolish it by expelling the administrators of the level from Romania and confiscating the money by the state”.

USR warns that this is not the first time that the PSD wants to confiscate the private pensions of Romanians to cover their excessive spending with public money through privileges and special pensions, a maneuver also attempted by Dragnia, Tudose, Ponta and Dencila.

• “The government with epaulettes will not only impoverish Romanians in the midst of the energy and price crisis, but also wants to take away their private pensions. Here we are with “the most stable, solid and efficient government in the last few years”, as the country’s first skier proudly praised.
• The abolition of the second level of pensions, which Dragnia and his ilk also tried to do, with the sole purpose of filling the party’s pockets with money for future sinecures and other special pensions, is a new cynical blow that PSD and PNL are dealing with Romanians.
• Romanians have a chance for a decent pension through Level 2, but the Chuke government doesn’t care, on the contrary. What can we expect from a government that earns billions of lei as a result of rising energy prices, which are also borne by Romanians?”, said USR President Katelyn Drula.

At the same time, the USR asks the Minister of Labor, Marius Budai, to publicly announce when the so-called consultations with ASF representatives took place regarding changes to level 2, given that on Tuesday, August 23, at 12.00, the Ministry of Labor issued an emergency decree for public discussion, and half an hour later on the television channel when asked about the expected changes to Pillar 2, he answered live that “we will discuss” and that “we should consult with the ASF”.

USR is asking the Minister of Labor to publicly admit that he lied and recalls that the former Minister of Economy, Claudio Nesui, released the Chuke government’s Tier 2 plan as recently as last week.

• “They denied it and then continued with their plan as if nothing had happened. This summer is a big emergency! He is now due to issue a 35 page injunction against Pillar 2. This cannot be delayed any longer. Who else am I kidding? The rate is the money you put into Pillar 2 every month. They want your money. Not the money that has already been accumulated.
• The bet is what will happen in the future. They will make another public company that will take over the portfolio of haunted funds. To inform you that your money is now safe in the new Bancorex. In 2024, we will no longer have a second tier and special pensions will be higher than ever.” supported by Claudio Nesui.

Finally, the USR reminds that Level 2 pensions arose due to the need to solve the problem that will become acute in the future, when the number of pensioners will be greater than the number of workers, given that at the global level, Romania will register one of the most drastic population reductions in the period 2017-2050 .

HotNews.ro reported a day ago that the government wants to cancel the commission levied by pension fund administrators on contributions paid by 7.8 million Romanians in the second level of pensions (mandatory private pensions) and the third level (optional private pensions). on the grounds that this would lead to an unjustified reduction of the private pension.

The main changes in pension levels II and III: reduction of commissions and new fines

This was reported by HotNews.ro on TuesdayThe government wants to eliminate commissions pension fund administrators are collecting contributions paid by 7.8 million Romanians to Level II pensions (mandatory private pensions) and Level III (optional private pensions) on the grounds that this would lead to an unjustified reduction of private pensions, according to the draft GEO, launched in agreement with the Ministry of Labor.

Currently, the revenues of 7 private pension administrators managing assets are just over 92.4 billion lei on pillar II they come from the commission for the management of these assets, which consists of 2 sources:

• a) deducting the amount from the paid contributions, but not more 0.5% and
• b) deducting a percentage from the total amount of net assets of a private managed pension fund, but not more than 0.07% per month.

At the third level of pensionsthe asset management fee also consists of 2 sources:

• a) deducting the amount from the paid contributions, but not more 5%provided that this deduction is made before the contributions are converted into fund units;
• b) deduction of a percentage from the total amount of net assets of a voluntary pension fund, but no more 0.2% per monthestablished by the prospectus of the optional pension program.

According to the ASF, they were in Pillar III 577,000 members at the end of March 2022, and the total value of net assets of voluntary pension funds exceeded 3.3 billion lei as of that date.

The Ministry of Labor launched on Monday draft ordinance on emergency situations which proposes the abolition of one of the two sources of income, namely the fee applicable to contributions paid to both Tier II and Tier III pensions.

What motivates the event?

• “The current regulation of the administration fee charged by administrators of private pension funds consists of two sources, both paid by members of private pension funds, creates an unjustified reduction in the private pension to be received at the end of the contribution period. “, it is shown in the GEO project.

Practically, the GEO project will change both Law 411/2004 (which targets component II) as well Law 204/2006 (Pension Level III) so that the administrative fee is formed only by deducting a percentage from the total assets of the pension fund.

HotNews.ro previously wrote that last year 7 administrators received an income of more than 577 million lei from two types of commissions applied in Level II.

Of this amount, only 48.5 million lei was collected from the commission on paid contributions.

• Read more: The main changes in pension levels II and III: reduction of commissions and new fines. The right to claim a private pension will always remain valid