Romania's mandatory pension funds only have 4,500 foreign participants
ROMANIA. Foreigners that came to work in Romania make up for only 0.1% of the total number of mandatory pension funds' participants (2nd pillar private pensions), that is 4,500 workers, exclusive analysis by www.privatepensions.ro has shown. The total number of pension fund participants in mandatory schemes in Romania is close to 4.4 million clients.
Out of the total, only 4,500 participants are of foreign nationality, thus contradicting the hypothesis that foreign workers are responsible for a surge in number of clients to those funds. Pension fund administrators expected to get only 100,000 new customers each year, but instead the first 9 months into the year brought 206,000 new participants - a surge better explained by seasonal workand above-expectations new labour market entrants.
