pension system

Romanian Prime Minister Emil Boc said Tuesday at the presidential palace that the public pension system law promoted by the government will be based on sound, “although painful” principles.

The Romanian public sector unitary wage law and the pension system law cannot be enacted unless the Government takes responsibility, as "they will rock the foundations of the public system", while the Government will "enact them or step down", said Romanian Prime Minister Emil Boc.

The World Bank recommends Romania to raise the minimum retirement age over the 70 years old ceiling until 2050 and to keep the taxes at levels corresponding with the current retirement age in order to restore the fiscal balance in the country’s pension system that would register huge gaps.