Almost 234,000 Romanians who retired after January 1, 2011, will receive slightly higher pensions by end-March this year, and the increase will also be applied retroactively.

According to the Labor Minister Rovana Plumb, all 234,000 pensioners will receive the difference of pension for November and December 2013 too. Thus, the average growth per pension, after applying the correction index, will be of RON 63 per month (some EUR 14).

"The budgetary effort for this recalculation is of RON 23 million (EUR 5.1 million) in 2014, for November and December 2013,. The budgetary effort made by the Ponta government for 2013, when the correction index of 1.06 was applied for the first time in four years, was of RON 132 million (EUR 29.3 million),” said Rovana Plumb.

“For 2014, the continued application of the correction index leads to an amount of RON 250 million (EUR 55.5 million), because it includes those who retired in 2013, but also those who will retire in 2014,” she added.

Prime Minister Victor Ponta also said that the necessary amounts are already included in the budget, some RON 200 million (almost EUR 45 million) being transferred from the state budget to the social security budget.

Commentators argue that the announced increase in pensions could be in fact a pre-electoral move, given the upcoming elections, for European Parliament in May, and for the presidential seat end of the year.  Romania has a total of 5.4 million pensioners, according to latest statistical data.

Irina Popescu, irina.popescu@romania-insider.com