How to prepare for retirement in good time
Automatically translated summary. The full text is available in Romanian.
An information note from the National Financial Education Campaign, implemented by the National Bank of Moldova and Expert-Grup, explains why people in the Republic of Moldova should plan financially for retirement from a young age, as life expectancy and the post-working period keep growing.
The note urges readers to set retirement goals, contribute honestly by avoiding informal salaries, and save and invest. Studies suggest setting aside at least 15-20% of income annually. The state pension rests on generational solidarity: current contributions pay today's pensioners, and the pension size depends on the insured income. The law guarantees the right to a pension but does not specify its amount or whether it will be sufficient.
Additional options include an investment portfolio of low-volatility instruments, voluntary private pensions and life insurance with capital accumulation. Voluntary private pensions are not yet available in Moldova, but foreign funds accepting non-residents can be used. Those lacking time or knowledge can turn to investment advisers licensed by the National Financial Market Commission under Law No. 171/2012. The campaign has USAID support through the MISRA project.
Recent publications from Social protection
See all
How Life Insurance and Private Pensions Can Prepare Us for Retirement
Position Paper on the Advisability of Establishing an Economic and Social Committee in the Republic of Moldova
Prima Casă Plus: a social, banking, real estate or electoral programme? Analysis of the programme’s opportunities and risks
