We have more than 5 million pensioners, and the average pension was 1,855 lei, the National Institute of Statistics reported on Thursday. The ratio of pension to salary fell to 51.6% (from 53% in 2021). At the district level, the data are not encouraging: in Teleorman, 10 workers pay pensions to 15 pensioners, and in Ilfov, 10 workers pay pensions to only 4 pensioners.

The average pension level varies greatly between counties, the difference between the minimum and maximum amount being 948 lei (1,409 lei in Botosani county, 1,419 lei in Giurgiu county, 1,426 lei in Vranca county, compared to 2,357 lei in Hunedoara county, 2,250 lei in Bucharest municipality and 2,085 lei in the Brasov district), also show INS data.

Pension reform is also necessary in Romania, although political calculations take into account the approaching election campaign, not demographic emergencies, and the situation in European countries that are trying to change the mechanism of retirement shows that such intentions are putting people on the streets.

The most famous case is France, but the situation is not rosy in Spain either. Spain’s Socialist-led government will ask lawmakers on Thursday to approve a new mechanism that could force young people to pay more to secure their pensions. The ‘intergenerational equity mechanism’, which purports to redistribute from the elderly to the young, will actually do exactly the opposite, say economists consulted by the FT.

While in France there is outrage over plans to raise the minimum retirement age from 62 to 64, in Spain the threshold is 65. Spain’s efforts demonstrate the dilemmas many European countries face: how to balance pension levels, intergenerational equity and financial stability.

In the case of Spain, certain peculiarities complicate this approach: the country’s debt is 116% of gross domestic product, and pension payments are relatively generous. The pension is equivalent to 80% of net income before retirement, compared to 74% in France and an average of 62% in the OECD club.

The European Commission requires Spain to work on creating a fairer and healthier pension system in exchange for euros from European funds. The commission “positively assessed” the changes introduced by Spain, but has not yet assessed the latest reforms.

Airef, Spain’s fiscal council of sorts, released a report showing that the new pensions will not pay for themselves, but will increase Spain’s budget deficit by 1.1 percentage points of GDP by 2050.

Demographic pressure is strong. Today in Spain there are three active for one pensioner; by 2050, the ratio will be just 1.7 to one.