Romania To Hike Pension Point In Two Stages – Sources

The pension point might be hiked to reach 45% of the average wage in September, according to the preliminary draft budget.

Sources said the two-stage hike of the pension point up to 45% of the average wage has not been decided by the coalition formed of the social democrats and the democrat liberals, and a final decision will be made after the social democrats talk with the Finance Minister.

The same preliminary budget projection includes pension hikes for labor groups I and II, forecasting a 20% hike in March and another increase as of January 1, 2010, which will lead to a 50% pension hike for these labor groups.