IS ROMANIA READY FOR THE INTRODUCING THE PENSION SYSTEM REFORM? COMPARATIVE RESULTS WITH THE EUROPEAN COUNTRIES

In the last six years, Romanian pension system was confronted with many legislative projects regarding the implementation of private pension. At this moment, we can say that the background for implementation the private pension is quite established. Romania should approach the matter of globalization taking into account the financial oscillation, where the retirement funds system has an important role, as a part of it. In addition, considering the high ratio between the number of pensioners and that of active persons, respectively 4.5 million of pensioners to 6 million of employees, the need for a process of restoration of the pension system in Romania, at the same time with the creation of a specific culture for the large audience, is obvious.