Romania Halts Certain Pension Raises Until 2014, Over High Additional Expenses -
 Home Page  | News  | Exchange Rates  | Interbank Rates  | Central Banks  | Capital Markets Authorities  | Romanian Banks  | Archive  | Romanian  
 Finance-Banks  | Economy  | Business  | Capital Markets  | Real Estate  | Cars  | Travel  | HR Careers Education  | Media  | IT & C  | Environment 

News » August, 2011 » 11 August 2011

Romania Halts Certain Pension Raises Until 2014, Over High Additional Expenses
11.08.2011, 15:46 | Finance-Banks | 678 views

Romania's Government will block certain pension raises, which would have taken effect next year, until 2014, arguing that the lack of a "sustainable framework" for the pension law's application will increase the social security budget deficit.

The new pension law, adopted by the Government and in force since January 1, 2011, says people who worked in special conditions after April 1, 2001 would receive a 25% raise to their monthly scores (computed as the ratio of the individual gross salary and the average gross salary in that specific month), while a correction index would be applied to the yearly score of people who retire this year, computed as a ratio of 43.3% of last year's gross average salary and a pension point in effect at the time.

Both these raises were to take effect on January 1, 2012.


Latest news in category Finance-Banks

19.10.2016, ora 00:00 | 750 vizualizări
NBR governor disregards his own advice
NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...

22.04.2016, ora 00:00 | 841 vizualizări
Mario Draghi: The ECB obeys the law not politicians
The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...

23.02.2016, ora 00:00 | 775 vizualizări
The pound sterling, in its biggest decline since 2009
The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...

Subscribe to newsletter
News: Yes  No 
Exchange Rates: Yes  No 

Top news last 7 days

Publicitate pe acest site
Copyright 1999-2020 Pandora Impex SRL.