Pillar III is a voluntary pension governed by Law 204/2006. You select the fund and contribution; its administrator invests according to the prospectus.
Savings depend on payments, costs and asset performance. Check withdrawal rules and your monthly budget before choosing, rather than focusing only on a quoted return.
Contributions and payment flexibility
Article 76 allows contributions up to 15% of monthly gross salary or equivalent earnings. Employer and employee can share payments. Changes, suspension or cessation must follow the law and fund documents; accumulated assets remain in the account. Stopping payments does not automatically permit withdrawal.
What the 400 euro deduction means
Eligible employee contributions can reduce the salary income-tax base up to the equivalent of 400 euro per year under Tax Code article 78. This is not a 400 euro state payment. For an eligible 1,000 lei deduction and 10% income tax, illustrative tax savings are 100 lei, provided there is sufficient taxable income.
Employer-funded contributions have their own 400 euro annual ceiling and tax-free benefit conditions, including the applicable combined monthly 33% cap. This differs from the employee’s deduction. Ask payroll to calculate your case and identify the required evidence. Currency conversion follows tax rules, not an assumed annual average.
When payment can be requested
Article 93 starts from age 60 and the asset condition for a voluntary pension. The 90-monthly-contribution requirement was repealed on 17 April 2025. Article 94 covers exceptions, including insufficient assets, disability and death. Ask the administrator for payment options and taxes applicable to your claim; do not assume a standard 20-year annuity or unrestricted early access.
How to compare funds
Read the prospectus for fees, risks, asset allocation, transfers and reporting. Compare performance over identical periods and in the same currency, after costs. Good historical returns do not guarantee purchasing power. Check the administrator and fund in ASF registers, then retain your joining agreement and statements.