Romania's labor minister Raluca Turcan announced that all the 5 million pensions in Romania would be recalculated in the next 18 months, in line with "the new pension law to be passed by the new ruling coalition," Mediafax reported. No pension will decrease, Turcan assured.

The statement comes in the context of an existing pension law in force, which the Government amended to avoid excessive fiscal slippage.

Minister Turcan already issued an order to recalculate the pensions ahead of the new pension law being passed.

"The evaluation process requires that all data is entered in an electronic format. When the legislative procedure and the law are ready, we will start the recalculation process and, in a short time, pensions will be recalculated," said Turcan.

The new pension values will be enforced "sometime next year."

Regarding a possible increase in pensions for this year [in September], minister Turcan said that she waits for the budget allocated to the Labor Ministry and that she hopes pensions will increase at least to cover the inflation.

andrei@romania-insider.com

(Photo source: Gov.ro)