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flag Romania passes new pension law limiting withdrawals, sparking legal and financial concerns.

flag Romania’s Parliament has passed a new private pension law limiting withdrawals from Pillar II and III accounts to 30% upfront, with the rest paid over eight years, except for cancer patients who can access full funds immediately. flag The law, approved 178-64-22, aims to ensure long-term pension sustainability but faces legal challenges from the far-right AUR, which argues it undermines retirement savings and grants excessive control to fund administrators and the state. flag Critics warn it may reduce financial security, while a 2024 report shows half of Romanians fear an inadequate retirement income.

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