Legea nr. 1/2020 privind pensiile ocupaționale
Law no. 1/2020 regarding the occupational retirement

Summary/Abstract: Law no. 1/2020 regulates: a) the authorization and functioning of the administrators and the occupational retirement funds; b) the supervision of the activity of the entities mentioned at letter a) in Romania, on the territory of the other Member States and on the territory of the third states; c) the approval and functioning of the credit institutions for carrying out the activity of deposit and custody of the assets of occupational retirement funds; d) the approval of the financial auditors, for the activity performed as auditor of the administrators and of the occupational retirement funds; e) the supervision of the entities mentioned at letter c), for carrying out the activity of bank deposit and custody of the assets belonging to the occupational retirement funds; f) the supervision of the entities mentioned at letter d), for their activity related to the occupational retirement funds and their administrators. The current law transposes the provisions of the Directive (EU) 2016/2.341 of the European Parliament and of the Council of December 14, 2016 on the activities and supervision of institutions for the provision of occupational retirement funds (IORP), published in the Official Journal of the European Union (JOUE), series L, no. 354 of December 23, 2016.

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