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Romania Could Move Up Planned Pension Hikes On Social Insurance Budget Surplus – Labor Min

Romania could use its first-half social insurance budget surplus, which nears EUR150 million, to move up planned pension increases, labor minister Paul Pacuraru told MEDIAFAX Thursday.
Romania Could Move Up Planned Pension Hikes On Social Insurance Budget Surplus - Labor Min
17 iul. 2008, 13:57,

Pacuraru added experts within the ministry are working to find solutions to allow pension increases before Jan 2009.

The government increased pensions 30% on Nov 2007 when the value of the pension point increased to 541 lei (EUR1=RON3.5705) fromRON416. the pension point was further increased to RON581 in Jan 2008 and the next hike was planned for Jan 2009.

The labor minister said in April pension hikes could be moved up to Nov or Dec 2008 to RON740-760, depending on the average gross wage per economy, if the country’s social insurance budget continues to post a surplus.