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October 26, 2021

LabMin Lia Olguta Vasilescu: Pension Law is finalized, we are working on the subsequent legislation

Pension Law is finalized and authorities are currently working on the subsequent legislation, Labour Minister Lia Olguta Vasilescu stated on Monday, pointing out that simulations are being made on three calculation formulas in order to subsequently choose the most advantageous one.

“The draft law is finalized since October. But we are making simulations on three calculation formulas, in order to see which one is the most advantageous in the end. (…) We are working also on the subsequent legislation. Pension Law is finalized, but we’re still working on the subsequent legislation” Labour Minister Lia Olguta Vasilescu stated on Monday.

On Monday, Minister Lia Olguta Vasilescu attended a meeting of the National Council of Elderly People.

“There aren’t many dissatisfactions. I was glad to see that, compared to what is mentioned in the public space, the representatives of the pensioners really appreciate that increases have been made in the last year, in 2017. I also asked them to form a group of four people who previously worked in the pension system” the official said.

Labour Minister says that simulations have been made so far on several thousands of pensions, and they will continue, “not to have any kind of surprises”.

In her opinion, the Pension Law of 2009 perhaps wasn’t so “bad”, but so may corrections have been made in Parliament, deepening the inequities in the system.

She said that pensioners will receive the maximum amount that can be accepted by the state budget for the pension system.

“Starting from last year, the minimum pension in Romania is RON 520, and this year it will increase up to RON 640 since July. I don’t know what the PM stated” Minister Lia Olguta Vasilescu stated.

PM Viorica Dancila stated for Romania TV that the minimum pension will increase this year from RON 5,200 to RON 6,400.

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