The pension system in Romania includes multiple pillars that all work together. This means that upon retirement, a pension payment will be made from pillar 1 and pillar 2, and from pillar 3 if you have enrolled in the voluntary Adobe pension plan (or a private pillar 3 plan).
Pillar 1 is a public statutory pension for the minimal level of living. It’s a pay-as-you-go system, and current contributors sustain the current retirees, without accumulating any funds for their own pension.
Adobe makes monthly social security contributions on your behalf to the pillar 1 plan.
Pillar 2 is a statutory pension, which is privately managed and has been operating since 2008. It’s an individual account, where the state social contributions are collected. You can keep your pillar 2 plan at your current provider or transfer your contribution to Adobe’s provider, NN. Find out who your pillar 2 plan provider is.
Based on your salary and work category, Adobe makes monthly social security contributions on your behalf to the pillar 2 plan. Note that the pillar 2 plan is a completely separate arrangement from the pillar 3 plan.
Pillar 3 is a voluntary pension plan offered by Adobe with our selected provider NN Asigurari de Viata S.A. If you enrol in the plan through NN, Adobe will contribute to your account.
All regular and Adobe-paid temporary employees will be automatically enrolled from their date of hire in the state pension plan (pillar 1) and privately managed pension plan (pillar 2), and can voluntarily join the pillar 3 plan throughout the year.
How much you can contribute to the pillar 3 plan
- Employees can contribute a minimum of 45 lei per month.
- Adobe will match the amount of contributions you make up to the maximum limit of 150 lei per month.
- Total contributions (from you and Adobe) cannot exceed 15% of your gross salary.
- You cannot contribute Bonus or Commission Sacrifice to the plan.
You can suspend your contributions at any time, and the money will remain in your personal NN account and will continue to be invested until you reach 60 years old. Note that if you suspend contributions, Adobe’s contributions will also stop.
How to enrol in the pillar 3 plan
- Log in to My Adobe Benefits to join the plan.
- Decide how much you want to contribute (total contributions, from you and Adobe, cannot exceed 15% of your gross salary), and pick your investment fund.
- Once you have made your selection, you will receive an email to meet with Mercer and sign the NN application form. Be sure to bring your national ID card to complete the enrolment process.
- Contributions from you and Adobe will then be deducted from the month following enrolment completion.
What to do if you already have a pillar 3 plan
If you already have a pillar 3 plan, either with NN or another provider, you will need to enrol in the Adobe plan on My Adobe Benefits in order to receive Adobe contributions.
Once you have enrolled, you will receive an email from Mercer to sign an addendum to the NN enrolment form, to ensure your plan continues under the Adobe arrangement. The documents will be sent via email.
Once you have enrolled in the Adobe plan, you can choose to move your current pillar 3 account to NN or leave the account with your current provider.
Access your account
You can access your NN pension account and look at how your fund is performing and manage your pension account.
How to change your contribution amount once you’re enrolled
You can change your contribution amount once per year during the annual enrolment window in June. Visit My Adobe Benefits to make a change. Keep in mind that the maximum you will be able to contribute is no more than 15% of your gross salary.
Retirement bonus payment
If you reach retirement age and retire from Adobe, you will receive a one-time retirement bonus from Adobe. The bonus amount equals 2 times your monthly salary, calculated based on the salary you earned the month immediately before retirement.
When you retire: You can choose to receive the money all at once or in equal instalments for a maximum of five years. In case of disability (first or second degree that impedes the participant to resume activity), you will receive the money accumulated in the account.
If you leave Adobe: Your NN individual pension account will remain with you. You can choose to continue to contribute on an ongoing basis directly with NN. You can ask your new employer to contribute on your behalf, or you can stop payments and then re-start at a later date if you wish.
If you die: The value accumulated in your pension fund will be paid to your legal heirs.