Romanian Parliament Passes Law Creating Tax-Favored Long-Term Savings and Investment Accounts

The Romanian Chamber of Deputies has enacted a Savings and Investment Accounts (CEI) law that creates a voluntary framework for long-term retirement savings. Citizens may open either CEI-S or CEI-D accounts at banks or authorized investment service companies, directing their money into equities, bonds or mutual funds. CEI-S requires contributions from already taxed income, with all gains—including dividends, interest and capital appreciation—remaining untaxed, even at retirement.

CEI-D permits contributions to be deducted from gross income, postponing tax until the funds are withdrawn, and both account types are taxed only once. Lawmakers such as Sebastian Burduja and Claudiu Năsui said the measure could generate supplemental retirement capital and strengthen Romania's capital market, while Cristina Prună warned of growing pressure on the public pension system. The new accounts do not alter the state pension, Pillar II or voluntary private pensions, and the legislation now awaits the president's signature.