pensions

Romania To Lobby EU On Cutting Pension Costs From Budget

14:41, 26 Oct. 2010
Romanian President Traian Basescu Tuesday said the country will lobby the European Council and MEPs to have the pension fund deficit excluded from the state budget deficit.

Romania Budget Revenue Would Drop By RON700M With New Pension Tax Exemption Cap

16:17, 20 Oct. 2010
Exempting pensions lower than 2,000 lei (EUR1=RON4.3084) from income tax, as per a bill the Romanian Parliament passed Tuesday, would translate into budget revenues lower by RON700 million (EUR167 million).

Romanian Ruling Party Lawmakers Say They Voted For Lower VAT On Food, Tax-Exempt Pensions By Mistake

12:33, 20 Oct. 2010
Lawmakers of Romania’s ruling Democratic Liberal Party said Wednesday they voted in favor of two bills that lack government support by accident and will move to have them annulled.

Romania Keeps Pension Frozen Next Year, Lowers Wages, Investment Budgets

12:42, 17 Oct. 2010
Romania’s Government plans to keep pensions frozen at their current level throughout 2011, cut local budgets and funds for wages and investments, according to the draft state budget for next year, obtained by MEDIAFAX.

Romanian Lower Chamber’s Special Committees OK Public Sector Pension-Wage Cumulus

18:24, 28 Sept. 2010
The Romanian Chamber of Deputies’ committee for budget and finance and the labor committee on Tuesday approved the draft law proposed by opposition liberals, which eliminates the interdiction to cumulate pensions and wages in the public sector, said labor committee head Victor Paul Dobre.

Romanian Govt To Increase Social Security Budget By RON3.8B

19:56, 11 Aug. 2010
Romania’s Government will increase the social security budget by 3.8 billion lei (EUR1=RON4.2404) to cover spending on pensions until the end of the year, Prime Minister Emil Boc said Wednesday.

Romania’s Govt To Freeze Pensions In 2011

18:50, 04 Aug. 2010
Romania’s Government will not increase pensions in 2011 and will eliminate the 13th salary, vacation bonuses and heating subsidies, according to an additional letter of intent to the stand-by agreement with the International Monetary Fund, obtained by MEDIAFAX.

Romania Has Money To Pay Pensions In 2010 – Fin Min

14:53, 27 Iul. 2010
Romania will not face problems with paying pensions this year, Finance Minister Sebastian Vladescu said Tuesday.

Romanian Authorities Might Consider Taxing High Pensions Progressively – Environment Min

20:26, 10 Iul. 2010
Romania’s Environment Minister Laszlo Borbely told MEDIAFAX Saturday that authorities might consider taxing high pensions progressively starting this fall, adding that decisions in this respect depend, to a great extent, on the country’s economic situation.

Romanian Pensions Must Be Taxed, VAT Reduced – President

17:12, 10 Iul. 2010
Romania’s President Traian Basescu said Saturday, during a visit to flood-hit areas in the northern part of the country, that the value added tax must be decreased to its previous level, adding pensions must be taxed.

Romanian President Says Any Income Should Be Taxed

10:31, 09 Iul. 2010
Romanian President Traian Basescu said Thursday on public television that any income, including the minimum pension and unemployment benefits, should be taxed.

Romania To Add EUR500M To Pension Budget – Labor Min

15:06, 01 Iul. 2010
Romanian Labor Minister Mihai Seitan told a news conference Thursday that the state will not encounter any difficulties in paying pensions this year, adding that the budget revision set for early August will allot a further EUR500 million to the retirement benefit sector.

Recalculating Special Pensions To Save Up To RON300M Each Month – Romanian Labor Min

14:33, 01 Iul. 2010
Romanian Labor Minister Mihail Seitan said Thursday that recalculating special pensions will save the state budget around 300 million lei (EUR1=RON4.3537) per month, and this figure will grow in 2011, after recalculating military pensions.

Romania’s Parliament Eliminates Unconstitutional Provisions From Austerity Plan

11:28, 29 Iun. 2010
Romania’s Parliament Tuesday adopted with 321 to two votes the committee for legal matters’ report on the austerity law package, eliminating the articles that slash pensions, which were recently ruled unconstitutional.

Romanian Parl Legal Committee Purges Unconstitutional Provisions From Austerity Law Pack

20:27, 28 Iun. 2010
The joint committee for legal matters in Romania’s Parliament adopted Monday evening favorable reports on the austerity law package, eliminating the articles slashing or recalculating public pensions which were ruled unconstitutional by the Constitutional Court.

Pensions In 2011 Won’t Be Reduced Further Following This Year’s 15% Slash – Romanian Fin Min

19:53, 23 Iun. 2010
Romanian Finance Minister Sebastian Vladescu said Wednesday it is unlikely pensions will be further reduced in 2011, after this year’s 15% reduction, adding that the pension level in 2011 will be set through the budget law.

Romania Public Sector Staff, Retirees To Get Slashed Wages, Pensions As Of Aug – Fin Min

11:24, 17 Iun. 2010
Romania’s Finance Minister Sebastian Vladescu on Thursday said the 25% cut in public sector salaries and the 15% cut in pensions will be applied to salary and pension rights for July and people will receive reduced salaries and pensions as of August.

Romania’s Ruling Party VP Says Differentiated Taxation Of High Pensions Not A Good Solution

14:17, 12 Iun. 2010
Romania’s ruling Democratic Liberal Party vice-president Ioan Oltean told a press conference Saturday that, as the Government rejected the opposition social democrats’ idea for differentiated taxation of high pensions, it means this clearly isn't a good solution.

Romania PM Says Draft Law Recalculating Special Pensions Adopted By Default In Parliament

19:49, 11 Iun. 2010
Romanian Prime Minister Emil Boc on Friday said the draft law recalculating special pensions was adopted by default in Parliament, as it was not subject to a no-confidence motion, and stressed he truly hopes the law will not be subject to any motion whatsoever.

Romania’s Govt Rejects All Amendments To Draft Laws On Austerity Measures

21:36, 05 Iun. 2010
Romania’s Government rejected all amendments to the draft laws for which it will seek a vote of confidence in Parliament on Monday, and preserved the austerity plan that cuts pensions and state employees’ wages and eliminates luxury pensions, Government spokeswoman Ioana Muntean said Saturday.

Romanian Govt Seeks Alternative Spending Cut Solutions Not To Reduce Pensions

20:12, 05 Iun. 2010
Romania’s Prime Minister Emil Boc and the members of his Cabinet met Saturday in an attempt to find alternative spending cut solutions, so that pensions below 1,000 lei (EUR1=RON4.2051) should not be reduced by 15%, people close to the matter told MEDIAFAX Saturday.

Hungarian Minority Party MP Amends Austerity Law Pack, Proposes Pension Freeze Until End-2011

13:17, 04 Iun. 2010
Hungarian minority party lawmaker Gyorgy Frunda has presented several amendments to the draft laws for which the ruling coalition, which includes the Hungarian minority party, plans to seek a confidence vote in Parliament Monday and proposed, among others, to freeze pensions until December 31, 2011.

Romania’s Decision To Reduce Pensions Meant To Avoid Short-Term Collapse, Problems Not Solved

18:05, 02 Iun. 2010
Romanian presidential adviser Sebastian Lazaroiu said Wednesday, during debates on the country’s pension system, that the authorities’ decision to reduce pensions by 15% is meant to maintain balance and avoid a short-term collapse, adding the measure does not solve pension system problems.

Romania To Recalculate All Special Pensions – Labor Ministry

15:03, 01 Iun. 2010
Romania’s law on pension recalculations, for which the Government will seek a confidence vote in Parliament, targets all special pensions, including those of former staff with the Defense and Interior Ministries, intelligence services and penitentiaries, the Labor Ministry announced Tuesday.

Romania To Cut By 15% Benefits For People Assisting First-Degree Disability Pensioners

19:53, 31 Mai 2010
Romania’s Government decided to reduce by 15%, as of June, 2010, the benefits granted to people having in care pensioners with first-degree disability, and also discarded the financial aid granted to teachers for the purchase of books.

Romanians Fraudulently Receiving Invalidity Pensions Could Face Prison

18:28, 31 Mai 2010
Romanians who were fraudulently declared disabled in order to receive invalidity pensions and the doctors who carried out the respective medical examinations and issued unjustified invalidity certificates will be deemed offenders and might face imprisonment.

Romania Scraps Free Public Transport For Revolutionaries, Descendants Of Martyr Heroes

13:05, 27 Mai 2010
Romanian revolutionaries of December 1989 and descendants of the country’s martyr heroes will no longer get free public road and rail transportation, trousseaus for newborns will be eliminated, along with severance payments for laid off workers.

Romania’s Lower Chamber Defense Committee Wants To Maintain Current Legislation On Military Pensions

19:35, 26 Mai 2010
Romania’s Chamber of Deputies defense committee approved the pension bill Wednesday, including one amendment which maintains the provisions of current legislation for the defense, public order and national security system.

Romania To Cut All Pensions By 15%, Social Pensions Included – Tourism Min

20:02, 25 Mai 2010
All Romanian pensions will take a 15% cut, although exemptions for social pensions worth 350 lei (EUR1=RON4.1838) did come up during talks with Romania’s President Traian Basescu, the Minister of Regional Development and Tourism Elena Udrea told MEDIAFAX Tuesday.

Romania Finance Min Says Differentiated Pension Cuts Entail Changes In Pension Point

16:05, 25 Mai 2010
Romania’s Finance Minister Sebastian Vladescu on Tuesday said that differentiated pensions cuts are not possible because this would imply changing the pension point, an indicator used to calculate pensions.

Pensions Below RON1,000 Won’t Be Reduced By 15%– Romanian Labor Minister

13:40, 25 Mai 2010
Romania’s Labor Minister Mihai Seitan told pensioners who protested Tuesday at the ministry’s headquarters, that pensions below 1,000 lei (EUR1=RON4.1838) will not be reduced by 15%, adding he will uphold the measure during Wednesday’s Government meeting.

Romania PM: Govt Can Either Pay Reduced Wages, Pensions Or Stop Paying Them As of Dec

15:58, 20 Mai 2010
Romanian Prime Minister Emil Boc said Thursday, before a meeting with unionists for talks on the recently announced spending cut measures, that the Government has two alternatives, namely, either to pay reduced salaries and pensions or no longer pay them as of December 2010.

Several Pension Fund Managers To Withdraw From Mkt If Pvt Pension Contributions Reduced – Assoc

14:43, 19 Mai 2010
Lowering Romanians’ contributions to mandatory private pension funds (Pillar II) might cause several fund administrators to withdraw from the market, as shareholders of pension administrators will not sustain a business without being certain they will recover investments in a reasonable period.

Lowering Pvt Pension Contributions Pushes System Into Bankruptcy – Association

13:17, 19 Mai 2010
Lowering Romanians’ contributions to mandatory private pension funds (Pillar II) means “willingly” pushing into bankruptcy both pension fund administrators and their five million private pension contributors, Crinu Andanut, head of private pension association APAPR, said Wednesday.

Romanian Unions Say IMF Deal Can Be Changed To Allow Only 10% Cut In Public Sector Wages

16:28, 13 Mai 2010
Unionists believe that Romania’s additional letter of intent to the standby agreement with the IMF can be modified so that pensions will not be slashed and the salaries of public sector employees can be cut only by 10% and only in 2010, not by 25% as announced recently.

Romania Forced To Contract New Loan In 2011 Unless It Cuts Wages, Pensions – President

19:08, 09 Mai 2010
Romanian President Traian Basescu said Sunday that if public salaries and pensions are not reduced, Romania will have to contract a new loan in 2011, which would simply “pawn” the future of the country and of millions of Romanians.

Romanian President Announces Pensions To Decrease By 15%, Public Sector Wage Fund By 25%

19:20, 06 Mai 2010
Romanian President Traian Basescu said Thursday, after talks with International Monetary Fund officials, pensions will decrease by 15% and salary funds in the public sector by 25%, which will also impact the minimum wage, adding subsidies will be drastically reduced.

Romanian Labor Min Says 180,000 Out Of 4.8 Million Pensions To Be Recalculated

13:13, 20 Apr. 2010
Romanian Labor Minister Mihai Seitan told senators Tuesday 180,000 pensions would be recalculated under the country’s pension bill and the process would take about six months.

Romanian PM Advocates New Pension Law To Make System Sustainable

11:02, 20 Apr. 2010
Romanian Prime Minister Emil Boc said Tuesday morning during debates in the Senate that the country’s pension system must be reformed, otherwise the state won’t be able to pay pensions.

Romanian Military Pensions Expected To Be Slashed Up To 69% Under New Pension Law – Min

15:00, 07 Apr. 2010
Romania’s Defense Minister Gabriel Oprea said a recent calculation scenario, at the suggestion of the Labor Ministry, indicated that military staff pensions are to be reduced by 19% up to 69% upon the enforcement of the country's new unitary pension law.