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Law on public pension system, promulgated

December 21, 2023

President Klaus Iohannis signed on Wednesday the decree for the promulgation of the Law on the public pension system.According to the law, the pension point will be increased by 13.8%, from 1,785 RON to 2,032 RON as of January 1, 2024, and pensions will be increased following recalculation based on the new formula as of September 1, 2024.The right to a pension is obtained after a minimum of 15 years of contributions, without taking into account non-contributory periods (university studies, military service, sick leave, unemployment, deportation, imprisonment or political detention). The law also aims to gradually equalise the retirement age for women and men to 65 years by 2035, the law says.The law also stipulates that activities in electricity production units in coal-fired power stations, including coal mining units, are covered by the special conditions of employment for personnel directly involved in the use of processes and machinery specific to electricity production and coal mining.The law also specifies that Romanian pensioners in the diaspora are required to sign a life certificate."The non-resident beneficiary has the obligation to sign the life certificate before a legal authority in the territory of the state of residence or permanent residence, as the case may be, the respective authority certifying this fact," the law also states.

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/law-on-public-pension-system-promulgated/106160
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