Pensions in Romania to hike this fall as scheduled, labor minister pledges
The labor minister Marian Sarbu said after talks with unions on the single salary bill that increasing pensions this fall will take place as scheduled.
The Cabinet added 3 percent to the pension point starting April 1, to 718.40 lei. Therefore the pension point now stands at 42.4 percent of the gross average salary estimated this year, of 1,693 lei which the Finance Ministry used to build the social insurance budget on.
Authorities had initially promised to raise the pension point to 45 percent of the gross average salary this year, but revised the measure down, on dearth of enough funds to carry it out.
Still, a new hike of the pension point to 732.80 lei, or 43.28 of the gross average salary, is programmed for October 1. That moves the 45 percent initial growth target to 2010.
Currently unions and Labor and Finance Ministries are working over elaborating a sole salary law meant to eliminate gaps between the small and high pensions.
Romania is confronted with a wave of union dissatisfaction following the recent budget revision which slashed furthermore funds for some ministries, including education. Public clerks are also unhappy with bonuses cuts and auxiliary personnel in the justice system have their share of discontents as well.