Un nou tip de pensie în România – ce aduce nou Legea pensiilor ocupaționale
A new type of pension in Romania – new provisions brought by the Law on occupational pensions

Summary/Abstract: Law 1/2020 which introduces a fourth category of pensions in Romania, i.e. the occupational pension, took effect as of February 7, 2020. This new law transposes Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December on the activities and supervision of institutions for occupational retirement provision (IORPs), which should have been implemented by January 13, 2019. The purpose of the occupational pension is to provide beneficiaries with an additional pension benefit, different from those existing until the date of entry into force of the Law, to supplement the income of future pensioners. To encourage employers to use this new instrument, the authorities issued on February 4, 2020, a draft piece of legislation amending the Fiscal Code that provides tax incentives for both employers and employees.

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