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Romanian Public Pension System Unsustainable Unless Occupancy Rate Increases – Labor Min
Romanian Labor Minister Ioan Botis said Thursday that Romania's job occupancy rate has been 58% for the past 10-15 years and, unless it climbs to 64-65%, the state will be unable to pay pensions.
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Romanian Public Pension System Unsustainable Unless Occupancy Rate Increases – Labor Min
Speaking in the conference Mediafax Talks about Private Pensions, Botis said, in such a situation, the only solution is raising the legal age of retirement.
The greatest challenge, he added, is creating jobs, otherwise the pension system will no longer be sustainable and will collapse.
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