Pension of 6000 lei at the age of 59. How can it be

A pensioner who retired at the age of 59 and benefits from a recalculated pension of 6,100 lei net is in an interesting situation, providing a clear example of the impact of the correction index and the work group on pensions under the new law.

The National Pension House announced a postponement of the sending of certificates with recalculated pensions for the period August 15-31. Initially, these documents were supposed to be sent between June and August, but the postponement was carried out without further explanation from the authorities.

How to apply correction index and workgroups

Our retiree accumulated 38 years of service and retired at age 59 when this was allowed. With an average annual score of 2.6 and a pension point of 2,054 lei, the initial gross pension is 5,340 lei. After applying the 10% tax for the amount exceeding 2,000 lei, the tax amounts to 534 lei.

Gross pension before recalculation: 4,800 lei

The pensioner benefits from 5 years of work under special conditions and 17 years in the 2nd work group. According to Newsweek, the pension recalculation does not include additional points for work groups or special conditions. However, these groups influenced the salary level, which led to higher contributions to the pension system and, implicitly, to a large number of contribution points – 67 points.

For the 38 years worked, the pensioner will receive the corresponding bonus points:

• 5 years under special conditions: 5 x 0.5 points = 2.5 points
• 17 years in the 2nd group: 17 x 0.75 points = 12.75 points
• 3 years in group Ia: 3 x 1 point = 3 points

Total points: 67 points + 18.25 points = 85.25 points

Recalculated gross pension: 85.25 points x 81 lei (reference point value) = 6,170 lei

After applying the 10% tax on the amount exceeding 2,000 lei, the total tax is 417 lei.

Recalculated net pension: 6,170 lei – 417 lei = 5,753 lei

Pension increase: 900 lei

This increase in the pension was possible thanks to a favorable correction index of 1.4, which contributed to the substantial increase in the pension, even if the additional amount is not spectacular.

Pension recalculation formula:

From September 1, 2024, the pension calculation formula includes:

• VPR (reference point value) x total number of points.

Point categories:

• Contribution points: contributions made.
• Stability points: 0.50 points/year for years 26-30, 0.75 points/year for years 31-35.
• Non-contributory points: for periods of unemployment, military or studies (0.25 points/year).