On Jun. 11, 2025, ROM ASF published final legislation amending and supplementing Norm 1/2015 on member accession and registration in privately managed pensions.
The changes are incorporated into the new Norm 16/2025, detailed in Official Gazette.
Follows the deliberations of the Council of the ROM ASF at the meeting of Jun. 4, 2025.
Amendments relate to introduction of remote communication, the definition of retired, clarification of retirement due to disability, extension of active account raised from 12 months to 6 years to allow for late retirements, extension applies 6 years after death.
Norm published in the Official Gazette, Part I, and will enter in force on Nov. 1, 2025.
ROM ASF issued draft Norm for amending and supplementing Norm 1/2015 regarding the accession and the recording of participants in privately managed pension funds.
Draft Overview
In the privately administered pension system, joining and recording participants is carried out via administrators and National House of Public Pensions, as institution.
At secondary regulatory level, access and record keeping of participants in privately managed pension funds is detailed by the provisions of ROM ASF's Norm 1/2015 o record keeping in privately managed pension funds, with all subsequent amendments.
The draft normative act consists mainly of amending and supplementing the provisions of art. 5 and art. 8 of ROM ASF Norm 1/2015, in order to extend period in which an account of a participant retired due to age remains active, from 12 months to 6 years.
This is so if they present court decision having as its object collection, after retirement, of salary rights, so that contributions can be received and adjustments can be made.
Effectiveness
Project is under public consultation for 15 days, with comments due by Jan. 2, 2025.
Jun. 2025 Legislation Published
On Jun. 11, 2025, ROM ASF published final legislation amending and supplementing Norm 1/2015 on member accession and registration in privately managed pensions.
The changes are incorporated into the new Norm 16/2025, detailed in Official Gazette.
Follows the deliberations of the Council of the ROM ASF at the meeting of Jun. 4, 2025.
Amendments relate to introduction of remote communication, the definition of retired, clarification of retirement due to disability, extension of active account raised from 12 months to 6 years to allow for late retirements, extension applies 6 years after death.
Norm published in the Official Gazette, Part I, and will enter in force on Nov. 1, 2025.
