Romanians are looking beyond the state pension and seeking solutions that offer greater security, financial independence and predictability, according to the study Romania’s Pension System: Perceptions of the Urban Population, conducted in August 2026 by Quantix for Banca Transilvania. 6 out of 10 respondents are concerned about the income they will have in retirement, and more than half say they are not financially prepared for that stage. At the same time, 75% believe the state pension will not ensure a decent standard of living.

Romanians are beginning to see retirement differently

The study shows that Romanians are at an inflection point in how they view retirement. If in the past it was associated with withdrawing from work, today more and more people see it as an active stage of life. It identified two gaps:

• between concern about their financial future and their current level of financial preparedness for it;
• between aspirations for an active lifestyle in retirement and the financial resources needed to sustain it.

The gap between these aspirations and the level of financial preparedness explains the growing focus on saving and long-term planning.

Romanians are more concerned about retirement than they are, or feel, prepared for it

• 60% of respondents are concerned about the income they will have after they stop working.
• 54% say they are not financially prepared for that moment.
  
  

People want to learn more about pensions, but few feel sufficiently informed

• Almost half of Romanians say they are interested in information about pensions. 47% discussed the topic in the past year, and 32% read about pensions.
• 41% consider themselves well informed about Pillar II. The share drops by half, to 20%, in the case of Pillar III.
  
  

The financial future is increasingly perceived as a personal responsibility 

The findings show the income sources Romanians want to consider for retirement:

• 55% – mandatory private pension (Pillar II);
• 25% – income from services they plan to provide;
• 22% – voluntary private pension (Pillar III);
• 20% – bank deposits.
  
  

In retirement, people dream of living, not just surviving

Asked how they imagine the years after retirement, respondents associated this stage with activities such as traveling in Romania and abroad, spending time with family and friends, or cooking. The answers show that, beyond financial security in retirement, people want to stay active and engaged in the things that matter to them.

Banca Transilvania Group and private pensions

Banca Transilvania Group is involved in every aspect of Romanians’ relationship with private pensions: from managing savings for the future through  BT Pensii (Pillar III) and BT Pensia Noastră (Pillar II), to providing access to information via the BT Pay app and supporting financial education through initiatives such as FIT (Finance Made Easy for Everyone), Your pension, in plain language and educational content on the BT Blog.

Through its specialized companies, the BT Group manages savings of almost 13 billion lei and contributes to the retirement savings of more than 900,000 participants.


The Quantix study is based on qualitative and quantitative research — in-depth interviews and a survey — conducted among Romania’s urban population aged 25 to 64.