It is a system of pensions by social and private institutions, which effectively applies at European and international level and combines the redistributive and funded system, allowing the greatest possible dispersion of demographic and economic risks. The Occupational Pension Funds are intended to provide to the insureds and beneficiaries, benefits of occupational protection, in addition to the provision of compulsory social security, for insurance risks and indicatively for the risks of old age, death, occupational accidents, illness, unemployment etc. They offer benefits in kind or in money payable periodically or as a lump sum.
When they offer pension benefits, they apply funded pension schemes.
The Occupational Pension Funds emerge today as a convincing solution of supplementary insurance on the basis of the second pillar.