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September 25, 2020

Parliament adopts pensions law after heated debates

The Chamber  of Deputies  adopted the public pensions law that was re-examined as a result of the Constitutional Court’s ruling on its unconstitutionality. During the House plenary meeting debates, Opposition lawmakers disagreed with the way the public pensions law was re-examined.

Thus, the values of the pension point will be as follows:

  1. On 1 September 2019: 1,265 lei;
  2. On 1 September 2020: 1,775 lei;
  3. On 1 September 2021: 1,875 lei.

Starting in 2022, the value of the reference point is to be hiked annually by the average annual inflation rate to which 50 per cent of the real hike registered by the gross average salary is to be added.

The standard retirement age is 65 years for men and 63 years for women. The minimum contributory period is 15 years for both men and women. The full contributory period, which also includes assimilated periods, totals 35 years for both men and women.

According to the document’s substantiation, the bill will have a budgetary impact of 8.4 billion lei this year, 24.8 billion lei in 2020, 58.1 billion lei in 2021, and 81.1 billion lei in 2022.

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