The Ministry of Labor and the National Public Pension House finalized the final version of the Pensions Law, after initially there were three versions.
“We managed to close these options together with my colleagues from the Ministry of Labor and the National House of Public Pensions. We have the final option. We gave it a first reading, next week we will continue the dialogue and we will also wait for the feedback from to the leaders of the coalition, after which, as is normal, we start the dialogue with the social partners and the pensioners’ organizations. I have said many times: I do not want to repeat the same mistake and I do not want to make a reform in secret, as was written PNRR”, said Marius Budai, Minister of Labor.
According to some sources, a possible formula for recalculating the five million pensions of Romanians would be formed as follows:
– Number of pension points X VPR (no Value of reference point). At the moment, the VPR is 72, given that it is calculated as follows: the pension point divided by 25 years of contribution. If the pension point increases in 2024 to 1,875 lei, the VPR will reach 75.
Thus, the new pension calculation formula will standardize the pension system and solve the inequities between men and women, between Romanians who retired under different laws, but also between correction indices.
“I followed, together with my colleagues, two extremely important aspects for these proposals that we submitted and we will discuss them in the future. First of all, the resolution of inequities, after which no pension will decrease as a result of the recalculation. And in at this moment we are working on taking over the data in electronic format, we separate the contributory data from the assimilated periods, the permanent increments from the non-permanent increments. We are preparing so that when we will have the final formula, we will have the final law, the recalculation will not take long.
We have to take into account the budgetary impact and the timing and the possibility in time of Romania to support such an impact because we have to see how long we propose or how long we manage to solve these inequities because these inequities are solved with impact budgetary and it is a consistent budgetary impact. We have to take into account the economic evolution and the evolution of the figures in Romania and of course take into account that we are not in a very stable period from a macro-economic point of view worldwide. All these aspects must be weighed together with experts from the World Bank and the Ministry of Finance, so that when we go into implementation we have a clearly defined period of time in which we can solve these aspects”, Marius Budăi explained to Antena 3 CNN.