35-45 year-olds now free to opt for private pensions after December

Employees aged between 35 and 45, who are eligible to opt for a 2nd pillar pension (compulsory private pension) retain their right to opt until they reach the age limit of 45, The Private Pensions Commission has announced. The commission has changed its mind and will allow employees aged 35 to 45 to opt for a 2nd pillar pension after the sales campaign in August-November this year has ended. Previously, according to the interpretation given by the Commission, those aged between 35 and 45 were to lose their right to opt from December. They will now be able to opt for a 2nd pillar fund at any time, until they reach 45, according to a norm that will be implement shortly. The law is not specific enough about those aged between 35 and 45, in terms of access to private pensions, so the decision was made to let them keep this right for an option after December 1st, Mircea Oancea, chairman of the Commission, told ZF. He specified that the situation would be formally regulated once the norm for joining the 2nd pillar, which is still under discussion, was adopted later this month.