Romania To Hike Pensions On Nov 1- Labor Min
Pacuraru said last week the social insurance budget surplus nears EUR150 million, adding experts within the ministry are working to find solutions to allow pension hikes before Jan 2009.
The government increased pensions 30% on Nov 2007 when the value of the pension point increased to 541 lei (EUR1=RON3.5666) from RON416. The pension point was further increased to RON581 in Jan 2008 and the next hike was planned for Jan 2009.
Pacuraru said in April pension hikes could be moved up to Nov or Dec 2008 to RON740-760, depending on the average gross wage, if the country’s social insurance budget continues to post a surplus.