CSSPP offers voluntary pensions to its employees

The Private Pensions System Supervisory Commission (CSSPP) has decided to contribute to a voluntary private pension fund (3rd pillar) on behalf of its employees, as part of a benefits package, according to Mircea Oancea, chairman of the institution. CSSPP has offered this option to all 52 employees, without exception and none of them turned it down. In order to benefit from the employer’s contribution, each CSSPP employee must choose a voluntary fund from the market (any fund) and decide on a monthly level of the contribution. According to Oancea, every month, CSSPP will contribute for each employee a sum equal to the sum saved individually, but no more than the equivalent of 100 euros a month. For example, if a Commission employee decides to save 50 euros a month with a voluntary pension fund, the employer (CSSPP) will pay another 50 euros a month from its own funds for the benefit of that employee. The same goes if the employee saves 30 or 100 euros (CSSPP will pay 30 and 100 euros respectively, per month).