Romanians, able to “buy” seniority for retirement

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The Government has adopted an emergency ordinance that entitles people who have the retirement age, but have no complete contribution period, to be able to buy seniority, the chief of the PM’s Chancellery, Ionel Danca has announced.

“Through this emergency ordinance draft, people who have the necessary retirement age, but an incomplete contribution period will be able to buy seniority to complete their contribution period, either the minimum contribution period or the complete one of 35 years”, the Government official stated.

He explained that the draft is very important on the pensions field, as it comes “to repair an injustice for the pensioners who, for various reasons, have an incomplete contribution period or cannot prove they have a complete contribution period.

“An inequity is practically fixed and people entitled to pension, after they reach the retirement age, can complete their contribution period within the limit of 6 years and at the level of the minimum gross salary. Practically, a person who currently lacks the minimum contribution p0eriod of 15 years, but has the retirement age, can sign a contract of social securities to pay the contributions for the missing periods of time. The level of the social securities that will be paid at the level of the minimum gross salary”, Danca said.

According to a calculation, those who want ‘to buy’ seniority will have to pay RON 23,200 in the account of social securities, for six years, a sum that they would have owed to the state if they had worked those years. The money can be paid by 2021, either entirely or by installments.

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