The second stage of valorizing the old-age and disability pensions will start on November 1, 2017, not on April 1, 2018 as it was projected initially. A change to this effect to the regulations on the method of calculating pensions, of March 21, 2017, was approved by the Cabinet, IPN reports.
Pensions will be valorized for 64,800 recipients whose pensions were set between 2009 and 2011.
Prime Minister Pavel Filip said the timing could be shifted owing to the larger revenues collected into the state budgets. After valorization, the old-age pensions will rise by 266 lei, while the disability pensions by 274 lei on average.
Valorization implies the recalculation of pensions taking into account the depreciation of money in the period the insured incomes were obtained compared with the time the pension was set.
The first valorization stage covered the period between 2001 and 2008. The next stage was planned for April 1, 2019, when there will be valorized the pensions set in 2012-2014. On April 1, 2020, the valorization will end with the pensions set in 2015.
