Romanians contribute 35 years to the pension and receive money for less than 12 years. Calculation related to life expectancy in our country

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.

Romania has the third lowest life expectancy in the EU, at 76.6 years, according to Eurostat.

Romania is followed in this ranking only by Latvia, with 75.9 years and Bulgaria, with 75.8 years. Spain is the country in the European Union (EU) with the highest life expectancy, at 84 years, and it is above the Community average, which is 81.5 years. The standard retirement age is 65 in Romania.

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.

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.