Recalculating Special Pensions To Save Up To RON300M Each Month – Romanian Labor Min

Romanian Labor Minister Mihail Seitan said Thursday that recalculating special pensions will save the state budget around 300 million lei (EUR1=RON4.3537) per month, and this figure will grow in 2011, after recalculating military pensions.

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The minister said special pensions will be recalculated in two stages. The first, starting 30 days after the methodology for the application of the laws is approved, will revise the pensions of diplomats, lawmakers and former aviation employees. The second stage, to be completed by the end of the year, will target pensions in the military, police and special services.

Seitan said not all military pensions will be reduced - some may even be increased - but they will definitely not be lower than RON3,000.

Romania's two austerity laws cutting state employees' salaries by 25% and recalculating certain categories of pensions were published Wednesday in the Official Journal, after they were promulgated by the head of state Tuesday.

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