Andronescu: Social security contributions should become privately managed

Businessman Florin Andronescu, founder of electronics and home appliances retailer Flanco, of private clinics network Sanador and of former consumer finance provider Credisson believes the decline in social security contributions amid a rise in the number of employees will encourage companies to keep on board as many employees as possible and will limit alternative solutions – contracts for provision of services, concluded with individuals. “With a much better performance in view, an increasingly larger part of the social security funds should become privately-managed. Paying a percentage-based contribution is completely inequitable, given the services provided are uniform, while contributions differ greatly in value. These funds would increase after a much better placement and would be managed based on real, economic principles (…),” believes Andronescu.