PM Tudose on Pension Pillar II: People not to be consulted; the situation will be presented for a choice

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Prime Minister Mihai Tudose said on Tuesday that if Pension Pillar II is to become optional, the people will not be consulted on this option but they will be able to opt.

"If it comes to that, there will not be a public consultation, but the situation will be presented and the people may opt," said Mihai Tudose, asked at the end of a meeting of the National Standing Bureau of the Social Democratic Party (PSD) about how the Government will consult the population whether or not the Pension Pillar II to become optional.

Last week, Prime Minister Mihai Tudose announced that Pillar II would not be abolished, but that it may become optional, and Romanians will be presented with a comparative analysis to make the best decision regarding their pension. He said, however, that no decision was made in this regard, given that an analysis is currently being carried out.

"What the Ministry of Finance is working on now along with the Pension House, with the ASF [Financial Oversight Authority], is an analysis of Pillar I and Pillar II to see where and how the money of Romanians fares best. As a novelty, I think the solution is for us to tell the people where it is better for them to put their money, depending on the level of pay: Pillar I or Pillar II, all eggs on Pillar I or change nothing, but Pillar II becomes optional. It would be optional only if you want to switch from Pillar II to Pillar I, because there is no other way around. Nobody is abolishing Pillar II, nobody is nationalising it, no harm is done to it. We do not torture it, we do not skew it, but it will be optional," said Tudose. AGERPRES (RO — author: Daniel Florea, editor: Georgiana Tanasescu; EN — author: Corneliu-Aurelian Colceriu, editor: Rodica Ionita)

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