Clients of mandatory pension funds, i.e. all employees aged below 35 and some of those aged between 35 and 45, earn, on average, less than the average salary in the economy, according to data from the National Pensions Office (CNPAS) and of the National Statistics Institute (INS). In July, the 3.38 million employees for which contributions were transferred to mandatory private pension funds, earned 412 euros on average in gross sum, while the average gross salary in the economy amounted to around 486 euros (1,769 RON). The average salary of pension fund clients is, therefore, 15% lower than the average salary in the economy. All employees aged below 35 have to join a privately managed fund, but those aged between 35 and 45 also have the possibility to join. If someone who is bound by law to join fails to join a fund four months from becoming employed, they are randomly assigned to a fund on the market.
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