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Bucharest
June 22, 2021
Social

Minimum old-age social security pension up 30 pct as of March 1 to 520 lei

The minimum old-age social security pension increased to 520 lei (rd 115 euro) as of March 1, according to Emergency Ordinance No. 2/2017 of January 6, 2017 on particular fiscal and budgetary measures, with 1,022,168 people collecting higher benefits as a result.

“Beginning March 1, 2017 the old-age social security benefit for pensioners, as provided for by the Government’s Emergency Ordinance No. 6/2009 on the establishment of the minimum old-age social security pension, approved by Law No. 196/2009 with subsequent amendments, is 520 lei,” states Article 2, Para 2 of the OUG.

According to the regulatory act establishing the minimum old-age social security pension, this benefit was set at 300 lei as of April 1, 2009 and at 350 lei as of October 1, 2009. Beginning 2010, the minimum old-age social security pension is established annually under the State budget Law and shall be increased by the budget adjustment laws according to the evolution of macroeconomic indicators and the available financial resources.

The same OUG states that “with effect from July 1, 2017, notwithstanding the provisions of Art. 102 Para (2) of Law No. 263/2010 on the uniform public pension system, with subsequent amendments and additions, the value of the pension point established according to Art. 12 Para (1) of the Government’s Emergency Ordinance No. 99/2016, shall rise 9 pct to 1,000 lei.”

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