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World Bank's Proskuryakova: Romania's Pension Pillar II works fine, there is no reason to reform it


Country Manager for Romania and Hungary of the World Bank Tatiana Proskuryakova stated on Wednesday, during a meeting with the press in Bucharest, that Romania's Pension Pillar II works fine and there is no reason to reform it.

"We believe that the Pillar II works fine and our opinion is if it's not broken, why fix it? Why reform a system that runs well? There are other things that should be fixed, but it's not the case to reform something that seems to run well," Proskuryakova stated.

She showed that the existence of the Pillar II is also beneficial for the development of financial markets because the pension funds invest in these sectors.

Two weeks ago, Finance Minister Eugen Teodorovici announced that the contribution to the Pension Pillar II will not be suspended, but, following a discussion with the actors involved, at end-June -beginning of July, a new draft law in the area will be presented.