Romania Hikes Taxable Pension Ceiling To RON1,500 – Sources

“(The government) considers increasing the taxable threshold for pensions, as well as harshening early retirement terms,” the mentioned sources said.

 

They said the new ceiling will be provisioned by the revised Fiscal Code.

 

Romania’s 2008 Convergence Program, which was sent to the European Commission, sets higher retirement age, as well as limited possibilities for early retirement.

 

The measures target lower dependency rate of the population.

 

The World Bank has recently recommended the Romanian authorities to increase retirement age, limit pension hikes and set clear pension indexing rules.