Iohannis says state managed pension system isn't sustainable in contry with low birth rate

A pension system mainly managed by the state is not sustainable in a country with low birth rate and negative migration, President Klaus Iohannis stated on Wednesday at the launching of the report called "World Development Report 2018: Learning to Realize Education's Promise," that took place at the "Carol I" Central University Library. 

"The economic education, so to speak of a relatively marginalised dimension of education, is absolutely necessary in order to back up the values specific to capitalist market economy, but also to defend our youngsters from the fake promises of populism. I will offer as an example the debate on the ongoing privately administrated pension system, with a very interesting dynamics at governmental level. (...) It's clear that in a country with a law birth rate and a negative migration, a pension system mainly managed by the state is simply not sustainable. Any promise that this can continue is just an attempt to deceive the population, sacrificing the welfare of the future retirees," President Iohannis stated.