Romanian unions reject proposal to channel Pillar II pension funds into defence firms

The National Trade Union Bloc (BNS) has called for the withdrawal of a draft law that would allow privately managed Pillar II pension assets to be invested in companies operating in the defence, security and armaments sectors. The proposal, backed by 123 parliamentarians from PSD, PNL, USR, AUR, minorities and independents, is being debated in the Romanian Parliament.

BNS warned that the move would treat Romanians' retirement savings as a source of liquidity for the military industry, noting that past arms purchases have not generated economic offsets or job creation. The union quoted its leaders: “Orice iniţiativă care vizează utilizarea economiilor pentru pensie ale românilor trebuie analizată cu maximă prudență” and “Economiile pentru pensie nu trebuie folosite pentru finanțarea industriei militare.”

The Financial Supervisory Authority (ASF) also raised concerns, pointing out the limited local capital market for defence firms and the risk that investments could be directed to foreign companies. With roughly 9 million Romanians affected, the debate reflects broader pressures on the public budget and the strategic importance of the defence sector.