The Romanian Constitutional Court (CCR) has put off by a week the verdict on the uniform pension law, following the claims of unconstitutionality submitted by opposition parties PNL (National Liberal Party) and PSD (Social Democratic Party) - adding to the tension surrounding the most controversial law passed by Parliament this legislative session.
Apart from the visible aspects such as the hypothetical voting fraud when the law was passed in the Chamber of Deputies or the trade unions' complaints about the retirement age being raised, with everybody retiring at 65, some aspects of the law are extremely relevant for the future pensioners.
The first one, a little discussed issue, is the fact that the future pensions will no longer be tied to the gross average salary, based on which the pension point used to be set, and which, by rising, also increased the pension level.
The law sets the pension point at 732.8 RON, with all future calculations to start from this. In a first phase, pensions will be 100% inflation indexed and 50% indexed by the real value of the increase in the average salary earnings. After 2020, the value of the salary earnings added to the pension will fall to 45%, and disappear altogether as of 2030.
"This means the deficit of the pension budget will revolve somewhere between 0.5% and 1%, making the system sustainable," says Mihai Seitan, former labour minister at the time when the law passed the parliamentary stages.
The Romanian Constitutional Court (CCR) has put off by a week the verdict on the uniform pension law, following the claims of unconstitutionality submitted by opposition parties PNL (National Liberal Party) and PSD (Social Democratic Party) - adding to the tension surrounding the most controversial law passed by Parliament this legislative session.
Apart from the visible aspects such as the hypothetica
