The staff will be able to create optional pension funds if they have financial resources for this. On November 22, the legislative body passed amendments to the pension system in the first reading. Thus, when reaching retirement, the salary earners will be able to receive an optional pension, besides the state guaranteed one. This will happen if the companies where they worked will transfer money to the optional pension fund during the length of service, IPN reports.
Deputy head of the Administration Board of the National Financial Market Commission Iurie Filip said the optional pension funds have nothing to do with the state pension system. It is only a financial service, as the long-term bank deposits.
“The state pension is guaranteed and mandatory, but every taxpayer will be able to obtain another pension from the optional fund. A person must pay contributions to the optional fund for at least five years. Also, no person will be able to renounce the optional fund after contributing a certain sum,” said Iurie Filip.
The adoption of the given law is provided in the Plan of Action for implementing the European Commission’s recommendations for creating the Deep and Comprehensive Free Trade Area with the EU. Iurie Filip said three optional pension funds have existed in Moldova for a period, but they do not yet have clients.
