Iohannis: PSD wanting to change pillar II is bad news; there is no such option in its programme

President Klaus Iohannis said on Wednesday that the intention of the Social Democratic Party (PSD), major at rule, to "change" pillar II pensions is "very bad news," adding that such option was not in the party's governance programme. 

"It is a very bad development and will certainly cause much concern, especially to younger employees, to the Romanians contributing to pillar II. People are putting their hopes in this private administration because they have an alternative to the public pension. PSD recognising that it wants to rethink pillar II pension is very bad news," said Iohannis, who attended the opening of the Bookfest international book trade fair in Bucharest. 

In his opinion, this is "the beginning of the end." 

"They will find new ways to persuade people not to contribute to Pillar II and to switch to Pillar I. (...) The Romanians should have been warned before the elections that PSD has this intention. This option is nowhere in the government programme," added Iohannis.