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Shock on private pensions market: Government cuts contribution from 2.5% to 0.5% of salary
Only two years after the pension system was reformed by the introduction of private pension funds, the government is basically cancelling this market in order to collect more money to the state's social security budget.
Clients lose 200m euros from freezing of private pension contribution
The pension of a participant to the private pension system will be 1,600 euros smaller because the government did not comply with the initial plan to boost contributions.
The biggest ING Pension contribution: 4,400 euros
The biggest contribution paid by an ING client to a mandatory pension fund (2nd pillar) in June was almost 4,400 euros (16,041 RON), according to ING Fond de Pensii data. This means that ING...
Romanian tourism: minimal contribution to GDP
According to the latest figures, tourism in Romania has a minimal contribution to the GDP, while jobs in this sector are regarded as a 'last resort' career option due to the low salaries. Al...
Employee contribution to bank profits in Q1: 3,300 euros each
Each employee in the banking system had a contribution of around 3,300 euros to the banks' overall net income in the first quarter of this year, while the assets per employee amounted to app...
Wage fund contribution: 0.25%
Employers will be required to pay a contribution of 0.25% of the total gross monthly wage fund each month as of January 1, 2007 in order to set up a wage guarantee fund, according to law dra...
Finance Ministry keeps promise, announces 3% social security contribution cut
The social security contributions (CAS), the millstone of the Romanian taxation system, will go down by three percent to 49.5%, as of next year. The decrease solely concerns employers, which...
High wages, high social security contribution
The companies paying high salaries, that is above three gross monthly wages (some $490) will pay a higher social security contribution (CAS), as decided by the Government through Emergency O...