Romanian government defers plans to pass private pension payment bill

The Romanian government abandoned plans to approve on August 8 a draft law to regulate the disbursement of private pensions, because of the protests coming from consumer associations and politicians, according to Ziarul Financiar. The opponents particularly challenge a provision restricting the disbursement of over 25% of a personal pension account at the retirement age.

The law was supposed to be passed within three years after the pension funds were set up in 2008; therefore, it has been overdue since 2011.