Romanian Labor Committee Deputies Adopt Report On Draft Pension Law

Labor committee deputies maintained all key provisions set by the Government in its draft pension law.

The only major change targeted the retirement age which was set at 63 for women and 65 for men. The Government-endorsed bill set the retirement age at 65 for both men and women.

The labor committee decided to decrease monthly penalties for future early retirees to 0.65% of the pension quantum, from the current 0.75%, as proposed by former Labor Minister, independent deputy Marian Sarbu. Deputies also decided to increase the pension point for people who are granted first-degree and second-degree invalidity pensions, and decrease monthly penalties for future early retirees to 0.65% of the pension quantum, from the current 0.75%.

Labor committee deputies decided to maintain the value of the pension point, an indicator used by authorities to calculate pensions, at 732.8 lei (EUR1=RON4.1835), as well as the way of calculating the pension point.

The provision whereby special pensions will be calculated considering the contribution to the social security budget was also adopted.

Deputies rejected an amendment brought by opposition social democrats who proposed the reduction of the retirement age by one year for women who bore and brought up three children, by two years for those who bore and reared four children and by three years for women who bore more than four children.

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