Prima pagină » Romania Hikes Pensions As Of Nov 1

Romania Hikes Pensions As Of Nov 1

The Romanian government decided in the cabinet meeting Wednesday to increase pensions as of November 1, 2008, people close to the matter told MEDIAFAX Wednesday.
Romania Hikes Pensions As Of Nov 1
27 aug. 2008, 16:41,

Romanian Prime Minister Calin Tariceanu later confirmed the government decided to increase pensions two months earlier than planned, adding the pension point would be increased 20%, to 697.5 lei (EUR1=RON3.5496).

Labor minister Paul Pacuraru said two weeks ago that the government was close to deciding to increase the pension point to RON697.5 starting Nov 1, from the current RON581.3.

Pacuraru said the value of one pension point could reach RON730-750 in January 2009.

The government increased pensions 30% in November 2007, when the value of the pension point increased to RON541 from RON416. The pension point was further increased to RON581 in January this year and the next hike was planned for Jan 2009. However, the government decided to move up pension increases by two months.