Commission for the Surveillance of the Private Pension System launches Guide for Private Pension System participants

The Commission for the Surveillance of the Private Pension System (CSSPP) yesterday published on its website, the Guide For Participants in The Private Pension System, which is intended as a useful tool for pension system subscribers, by allowing them the possibility of becoming acquainted with the basic principles of the Romanian private pension system.

According to a press release by the institution, the information provided in this guide does not represent a regulation issued by the Commission and is not intended to grant any rights or impose any obligations.

The guide provides an overview of the private pension system, by presenting its benefits, entities and safety factors, as well as contact information for the institutions of the sector.

By having the guide include a dictionary of private pensions, which explains specific pension system terms and investment notions, CSSPP aims to clarify the basic notions of the financial environment and of the private pension system.

The Guide For Participants in The Private Pension System explains the legal framework which regulates how pension funds invest the assets of participants in the most efficient and secure manner.

At the same time the guide presents the steps a potential pension plan subscriber has to follow in order to participate, transfer and receive his private pension.

Access to education about financial services is extremely important to ensure protection of participants, especially given the current difficult market conditions all over the world, the press release says.