This report discusses pension reform which took place in 2001 as a result of deficits which began in the 1990s. Important changes included increasing retirement ages, and the introduction of a new point based benefit formula, taking into account the entire work history of the employee, in order to strengthen the link between contributions and benefits. These actions improved pension system financial performance sufficiently to achieve a slight surplus...
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DETAILS
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2008/11/11
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Policy Note
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73054
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1
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1
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2012/05/10
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Disclosed
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Romania - Pensions policy note
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retirement age
Citation
Guven, Ufuk; Florescu,Richard.
Romania - Pensions policy note (English). Washington, DC: World Bank. http://documents.worldbank.org/curated/en/568821468095643425