“Romanian authorities have officially confirmed that the contributions to the pension plan will remain at 2.5% but will increase to 3% in 2011. This was the conclusion of talks between Romanian and international financial officials”, said Cornelia Coman (photo) at a seminar organized by the National Insurance and Reinsurance Companies Union (UNSAR).

The Ministry of Finance proposed recently a reduction in contribution levels from 2.5% to just 0.5%.

In February 2009, contribution level was frozen to 2%, but was raised this year by 50 basis points.

Second-pillar investors were projecting in May 2008 a 0.5% annual growth rate in contributions to 6% of contributors’ gross income.