The Romanian social security system provides the following benefits:

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  Old-age

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  Survivors

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  Disability

The Romanian social security program consists of a three-pillar system. The second and third pillars exist to supplement the basic benefit and are not subject to this Agreement for purposes of benefits.

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  Compulsory contributions

The first pillar is a mandatory defined benefit pension financed on a pay-as-you-go basis.

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  Voluntary contributions

The second pillar is a supplemental, voluntary occupational pension system.

The third pillar is a voluntary tax-deductible savings scheme for employers and their employees.