On Wednesday 15 November, PensionsEurope sounded the alarm at the recent decision of the Romanian government to reduce the level of social security contributions paid into private pension schemes to 3.75% of employees' gross pay, from 5.1% at the moment, even though the 2008 law on pensions provided for contributions to represent 6% in 2017. The organisation calls upon Romania to stick to its previous course and has launched an appeal to all member states.
“Romania has been able to build...