New law limits private pension withdrawals to 30% for Romanians

Romanian retirees can now withdraw a maximum of 30% of their private pension funds, with the remainder paid monthly over eight years. This new law, passed by the Chamber of Deputies, changes previous rules allowing full lump-sum withdrawals. An exception allows cancer patients to access 100% of their funds at once. The legislation affects over 8.3 million individuals with mandatory private pensions and nearly one million with voluntary private pensions.