Over a third (35%) of the Romanian elderly face the risk of poverty and social exclusion, almost double compared to the European Union average of 18.3%, according to an EY study.

The average pension in Romania amounts to EUR 200, compared to EUR 882 in Greece or EUR 1,032 in France. A person needs savings of at least USD 100,000 for the pension years, EY has calculated.

Organizations in the pension sector need to cooperate, as the pension landscape is going through a fundamental change, reads the EY report.

editor@romania-insider.com