Romania has the third lowest life expectancy in the European Union, according to Eurostat, at 76.6 years. This means that a Romanian contributes to the pension for 35 years and receives money only for 11 years and 6 months.
The standard retirement age is 65 in our country. In order to receive the minimum pension, a Romanian must contribute for 15 years. Currently, the minimum pension is 1,281 lei.
The full contribution period is 35 years. From a minimum salary, 25% of the money goes to the pension fund. This means that the state withholds 775 lei every month.
Romanians do not receive half of what they contributed to their pension
From an average salary, the state withholds approximately 2,000 lei every month. Currently, the minimum pension is 1,281 lei, and the average pension is 2,125 lei. Analysts estimate that Romanians end up receiving not even half of what they contributed after they retire.
“The paradox is that, when they enter the retirement period, the average benefits granted to a Romanian citizen represent only 40%-50% of the income they previously obtained”, say the specialists, quoted by Antena 3 CNN.
How much we contribute to pensions month by month
RETIREMENT AGE: 65 YEARS
– full contribution period: 35 years
– minimum experience: 15 years
– minimum salary: 3,300 lei gross
– pension contribution: 775 lei
– average salary: 7,990 lei gross
– pension contribution: 1,998 lei
– minimum pension: 1,281 lei
– average pension: 2,125 lei
Tags: Romanians contribute years pension receive money years Calculation related life expectancy Romania
