Gov’t approves new Pensions Law, budgetary impact of RON 81bn in 2022


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The Government has approved on Wednesday the draft of the Pensions Law, which is to reach the Parliament and approved in emergency procedure, Labour Minister Lia Olguta Vasilescu announced.

The pension point will reach RON 1,265 in 2019, then RON 1,775 in 2020 and RON 1,875 in 2021, i.e. the value of the reference point of RON 75 plus the 10% increase of bonuses and other wage rights for which contributions were paid. As of 2022, the value of the reference point will be increased annually according to the inflation rate and by 50% of the actual increase of the gross earnings. This is the first difference against the draft on public debate,” Minister Vasilescu said.

The Labour Minister added that the pension point will reach 45% of the value of the average wage on economy, without considering the fiscal burden. She added that no pension will decrease and that the standard age for retirement will not be changed.

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