pension point

The Romanian Government is revising the calculation method of special pensions to cap them, as of June 1, to a level calculated strictly in ratio with the pension point, an indicator used by authorities to calculate pensions, whereas military pensions will be cut by 15%.

The Alliance of Romanian Pensioners (APR) Friday urged the Government and the country’s lawmakers to set the pension point at 45% of the average gross wage.

The pension point might be hiked this year in two stages, in March and September, the preliminary 2009 budget projection shows, governmental sources told MEDIAFAX Monday.

Romanian designate Prime Minister Emil Boc told Parliament Monday the new Government eyes reaching a level of the pension point equal to 45% of the gross average wage on economy, if the public system of pensions can sustain the move.