Pascu Says Pilonul 2 Payouts Slip to Late 2027 Despite January Law
The new private pension law, Pilonul 2, will take effect on January 5, 2027. Cristian Pascu, president of APAPR, indicated that the first payments under the new law are unlikely before Q4 2027. Administrative and authorization processes will delay the payments. The earliest authorization of pension funds is expected by September-October 2027. Current regulations remain until the first new fund is approved.
The implementation of Romania's new private pension law, known as Pilonul 2, is set to begin on January 5, 2027. However, the first payments under this new regulation are not expected to begin until the fourth quarter of 2027, according to Cristian Pascu, president of the Romanian Association for Private Pensions (APAPR). Pascu stated, "Realistically, I don't see it earlier than Q4 next year."
Despite the law's enactment, immediate payments will not occur due to several necessary administrative and authorization steps. The process involves obtaining authorization from the Financial Supervisory Authority (ASF) for payment providers, as well as appointing an auditor and a depositary.
The earliest possible authorization of pension funds is anticipated between September and October 2027, marking the best-case scenario for the initial fund approval. Until a new fund is authorized, the existing regulations will continue to govern pension payments.
Law number 2/2026, which governs these private pension payments, outlines the procedures and requirements that must be met before the transition to the new system can be completed. This transition period highlights the complexity and careful oversight necessary to ensure a smooth implementation of the new pension framework.
Comentarii
Fii primul care comentează.
