Romanian Real Retirement Age Lower Than That Set By Law - PM

According to Boc, men can retire at 56 and a half years, even if, under the law, retirement age for men is set at 63 years and seven months, and women can retire at 55 years and seven months, while the law sets retirement age for women at 58 years and seven months.

The prime minister said that such a situation was possible as "the pension system has been perverted over the years", adding early retirement with high pensions must be eliminated.

Boc highlighted that the pension bill proposed by the Government aims at reducing pension fund deficit and at making sure the pension system will be sustainable both in the medium and the long run.

Boc addressed the Chamber of Deputies on Wednesday before deputies started debates on the country's pension bill, which raises retirement age.

The Romanian Chamber of Deputies' committee for labor on Tuesday adopted the report on the pension bill, setting the pension point's value to 45% of the gross average wage, an amendment put forward by the opposition.

Another amendment adopted by the labor committee sets at 63 years the retirement age for women and at 65, the retirement age for men.

In August, the Romanian Government asked the International Monetary Fund to extend until September 30 the deadline by which the unitary pension bill should be adopted in Parliament, after the IMF called on authorities to make sure the draft law was adopted by September 15.

The adoption of a new unitary pension law is one of the conditions Romania must meet in order to receive a new installment of a loan granted by the IMF, the European Union and other foreign lenders.

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