The savings program for children is not widely available to Romanians. It is about the Jubilee Centenary (GEO 104/2018), for which a premium of 600 lei plus 3% is received for at least 1,200 lei deposited in the child’s account at the Treasury. The 3% is applied to the deposit amount, not the bonus.
Several UDR deputies want to change the program, according to which the level of the state bonus is variable. That is, 50% of the amount from 1,200 to 2,400 lei. Now it is 50% of 1200 lei (ie 600 lei), and if the father invested more, only 3% interest is applied.
Another amendment stipulates that from this year, in the event of the adoption of the Law, the Ministry of Finance and the Ministry of Labor will be obliged to start information and clarification campaigns.
According to motivation, the degree of awareness of this program is about 3%. Out of more than 4.9 million accounts, only 146,587 were topped up. From the time of the program’s launch (2019) to the end of 2023, 26,334 accounts were repaid, and the total amount of the collected state premium was 33.2 million lei. The allocated interest amounted to 3.8 million lei.
For 2024, budget allocations for this program amount to 17.4 million lei.
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Did you forget to deposit 1,200 lei for the first 600 lei in 2023? How the state savings program works
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.