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Romania’s Econ Fin Min Says Pension Point Might Increase Before Jan 1, ’09

Romanian minister of economy and finance Varujan Vosganian on Saturday told a news conference that the pension point might increase before January 1, 2009, date forwarded until now, if the budget allows it.
Romania’s Econ Fin Min Says Pension Point Might Increase Before Jan 1, ’09
29 mart. 2008, 17:12, English

The ministry official said that “in spite all the rumors” the pension point increased by 60% in 2007.

He added that the social insurance budget has been an equilibrated one until now.  

“We are thinking about pushing ahead with the increase in the pension point if the budget allows it,” said Vosganian.

The minister said that once the pensions increase, pensioners will finally be able to say they are living a “decent life.”

Vosganian added that after the next hike in the pension point, an average monthly pension will be situated between RON650 and RON800, which means 60-70% of the average net salary.

According to the law, following the January 1, 2009 hike, increases will be operated simultaneously to both wages and pensions.