Labour Minister Olguta Vasilescu: Pension pillar 2 will not be canceled

Labour Minister Lia Olguta Vasilescu on Wednesday gave assurance that pension pillar 2 will not be canceled, but she specified an analysis into the possibility that each persons can choose if he/she wants to contribute to this pillar is under way. 

"There is nothing new besides what I and Mr Chairman Liviu Dragnea already communicated three months ago, in the sense that this pension pillar 2 will not be canceled. In fact, we can't even do this, we are currently looking at the possibility that each person be able to choose, meaning that it will no longer be mandatory under law for a person to be in pillar 2 and pillar 1, and leave it for him/her to choose," Vasilescu explained at the Parliament Palace, when asked about her vision related to the pension pillar 2.

Labour Minister added that she also chose back then for pillar 1.

"This is fair. This is what I, back then, did. I was exactly between 34 and 35 years old that year when there was a possibility to choose and I was not redistributed directly to pillar 2 - as some person in Parliament claimed today, who cannot possibly know the situation better than me - and I, back at the time, I chose to stay in pillar 1 thinking that the state can never go bankrupt. When we speak of private companies, this is a whole different matter, but I invite you to wait for this initiative, so as to see what it is exactly that we are talking about. In conclusion, the pension pillar 2 will not be canceled," she mentioned.

Olguta Vasilescu also specified that she is going to present figures to show to all those interested how efficient or inefficient pension pillar 2 actually is.