Financing pensions with lies

Financing pensions with lies

By the end of 2009, Romanian pensioners will receive the equivalent of 41 % from the gross average wage and not 45 %, as the Executive had promised. Union leaders are accusing the Romanian Government of using a trick in order to modify the way pensions are calculated.

The leaders from the National Syndicate Block (BNS) speak of other frauds: the number of Romanian employees was “exaggerated” and the number of pensioners has been “underestimated” in the official papers!

According to the BNS, the Romanian Ministry of Economy and Finance had sent different figures related to the number of pension contributors and the number of pensioners in the report that was handed last year to the European Commission. The underestimated figures show a smaller number of citizens that will be over 65 of age by 2020. Also the figures are smaller than the Eurostat estimates.

And all of that was made in order to justify a pension increase that was promised last year. And while those estimates were shown to the European Comission, other figures are now used to calculate the pensions.

Thus, the Government will increase pensions by a 45 % stake from the gross average wage, but by changing the way pensions are calculated, the raise will be insignificant.

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