Romanian Labor Committee Senators Adopt Draft Pension Law With Amendments

Labor committee senators agreed that the pension point, an indicator used by authorities to calculate pensions, be of at least 45% of the average gross salary, and rejected the amendment referring to special pensions for magistrates and military staff.

The final report on the draft law increasing the pension point to 45% of the average gross salary, from a current 39.9%, was adopted with four to three votes.

Labor Minister Mihai Seitan said the increase of the pension point is not sustainable, adding the state budget cannot afford to pay 1.2 billion lei (EUR1=RON4.1355) for pensions based on a 45% pension point.

Senators rejected the amendments proposed by senators in the committee for legal matters and the defense committee to maintain unchanged special pensions for magistrates and military staff.

Senators also rejected an amendment proposed by social democrats whereby people would retire at 64 instead of 65.