Minister of Labor Simona Bucura Oprescu explained on Wednesday evening that the decision to increase “special” pensions should be accompanied by compliance with the principle of sustainability of the system, writes news.ro

Simona Bucura Oprescu states that “pensioners in Romania have no reason to panic and that there are only mechanisms that are additional guarantees for the stability of the law and the protection of their interests.”

Simona Bucura Oprescu explains point 7 of article 84 of the recently voted law on state pensions, which stipulates that the percentage of pension increases cannot exceed the percentage of the increase in income from social insurance contributions to the budget or the average annual inflation rate of the previous year, explaining that this article must be correlated with other provisions of the regulatory act.

• “This is an article that, unfortunately, was not connected and understood with other articles, this is an article that deals with special increases, with other contributions, if the next government intends to increase pensions without providing stability, for special increases, only for temporary increases, in which case we must also increase social insurance contributions to make the system sustainable,” Simona Bucura Oprescu told Euronews Romania on Wednesday evening.

The Minister of Labor also clarified the clause which says that a report from the Fiscal Council is needed on compliance with the rules on increasing pensions.

“It’s also a question that the European Commission has asked, and it didn’t hurt that they invited it so that we have a body that produces a report every three years precisely to make sure that the sustainability of the system is being delivered to the public. pensions,” said Bukura Oprescu.

She also explained the phrase “corrective measures” to offset the fiscal impact in this article of the law, showing that “corrective measures link the increase in pensions to what we have as sustainability through contributions to BASS (Bugetul Asigurăil Sociale de State – no)” .

“But you will see, if you read all this in the context that Romania, the fear of the pensioners, because many of these provisions were interpreted, somehow, in their own note by those who interpreted them, but I assure all the pensioners in Romania that in they are no reason to panic and that they are only mechanisms that are additional guarantees for the stability of the law and the protection of their interests. Corrective measures in the case of taking special measures or in the event that stability is not ensured by observing the parameters we have in the law,” explained the Minister of Labor.

Regarding the provision of the law, which shows that if public pension costs exceed the standard set by independent experts, the government will take measures to reduce pension costs, Simona Bucura Oprescu said: “Based on the parameters we have in the law, the probability of this is very low, therefore, the interpretation we have for all the articles you expressed earlier is strictly related to stability, and I assure the Romanians that they have absolutely no reason to worry.”

She said the unexpected increase in pensions was a “major situation” that could create an “imbalance” in the pension system.

Asked whether it is possible to increase social security contributions if the pension budget is insufficient, Bukura Oprescu replied: “Leave a grain of salt for others; that perspective, from my point of view, is a perspective that does not make sense to refer to at this time.”

“I guarantee you that there are no sustainability problems in the state pension system in Romania,” the minister said.

Bukura Oprescu clarified that no changes will be made in the next five years to the recently adopted pension law, which will be submitted to the president.