“They will obtain the identical pension”

The announcement was made by Pension House CEO Daniel Baciu by way of Antena 3 CNN. This official additionally defined who the pensioners are who is not going to obtain extra funds within the September recalculation.

However, he mentioned that these Romanians will obtain the index offered by regulation yearly.

Romania’s public pension system is regulated from this 12 months by a brand new regulation, specifically Law 360/2023.

On December 6, 2023, the pension regulation adopted by Parliament final November and promulgated by President Klaus Iohannis was printed within the Official Gazette.

This will apply from January 1, 2024. Some provisions take impact from the start of the 12 months, most from September.

Under the brand new regulation, pensions will improve by 13.8% from January 1, 2024, and shall be recalculated in September. So your pension factors could be 2,032 lei.

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At the identical time, the retirement age is steadily launched to 65 for women and men.

Additionally, the minimal contribution interval to obtain the old-age pension is 15 years.

The new pension regulation comes with a brand new calculation method.

Pension Calculation = VPR x Total Points

The reference level worth (VPR) is 81 lei.

Total variety of factors = Contribution factors + Stability factors + Assimilation and non-contribution interval factors.

Non-contributory factors: Military service, unemployment, or time in faculty (0.25 factors per 12 months).

Contribution Points: The variety of years you have got contributed to the pension system. 1 level every year.

In Law No. 118/2010, the phrase assured minimal social pension is changed by the phrase social allowance for pensioners, in order that social pension and social allowance for pensioners have the identical that means.

Who are the greater than 1,000,000 Romanians who is not going to obtain elevated pensions?

“There are about 1,000,000 pensioners left who will obtain the identical pension.

I wish to make it clear that your pension is not going to be decreased after this recalculation. This is as a result of it issues pensioners with lower than 25 years of contributions.

They have been benefiting from the 13.8% index because the starting of the 12 months and can proceed to learn from the index offered by regulation yearly,” Daniel Baciu, head of Pensions House, instructed Antena 3 CNN.