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Romania Freezes Pensions In 2010 At Oct ’09 Level

Pensions will be frozen next year by keeping the pension point at the level set for October 2009, of 732.8 lei (EUR1=RON 4.2119), so that the average monthly pension of social security contributors will be of RON701.2, according to Romania’s social security draft budget, obtained by MEDIAFAX.
Romania Freezes Pensions In 2010 At Oct ’09 Level
22 dec. 2009, 12:18, English

The pension funds for 2010 total EUR39.6 billion which represent 7.36% of the gross domestic product, and take into account a number of 4.6 million pensioners with social security contributions.

The social security draft budget for 2010 ensures the distribution of the gross domestic product in the public pension and unemployment aid sectors. In 2010, the two sectors will be allotted 8.2% of the GDP.

Proposed Labor Minister Mihai Seitan told lawmakers in special committees during his hearing Tuesday that Romania will have no problem paying pensions next year, adding the unemployment rate in 2010 should not be higher than that registered in 2009.