A new law allows retroactive contributions to the public pension system until December 31, 2017

In late October of last year, a new law went into effect that grants individuals the opportunity to contribute retroactively to the public pension system for a period that relates back up to five years before the execution of an agreement with the local pensions authorities. The initial draft of the bill allowed only a six-month window of opportunity to take advantage of the plan, but due to popular pressure, the deadline was extended to 31 December 2017.

Any individual who has not retired may petition the local pension authority that is relevant to the individual’s domicile address to conclude an agreement that allows the individual to complete any payments for the period of the last five years during which the individual did not pay social security to the pension fund.

Law 186/2016 became effective on 27 October 2016.

Stratulat Albulescu - Attorneys at law