Vucic said that he would like the government to be able to implement this from November to enable pension increases to take effect by the end of the year.
Compared to 2018, the increases will amount to 5-25 pct, or to 8.4-13.3 pct compared to 2014, when the law was introduced, Vucic told reporters in Obrenovac.
Romania's pensioner-to-worker ratio will reach 1.74 in 2050, in a surge from 0.3 in 1990, shows a KPMG survey presented on Thursday at a press conference by Tudor Grecu, KPMG audit & assurance partner.
Deputy Prime Minister Paul Stanescu considers Private Pensions Pillar II must be optional and the Gov't must explain which are the advantages of this fund, if pensions are higher or lower following contributions to it.
Stanescu reaffirmed that there hasn't been any discussion in the Social Democratic Party (PSD) about suspending Pension Pillar II.
Seven million Romanian contributors have 12.9 percent less in their retirement saving accounts because of the non-observance of the Pillar II contributions increase calendar, which resulted in the loss of both the money promised under law and of the money multiplication effect, argue Romanian Business Leaders (RBL) representatives.
The mandatory pension funds - Pillar II - at 31 March were worth rd 42.53 billion lei (rd 9.14 bln euros), up by 25.22pct against the level at 31 March 2017, according to data released by the Financial Surveillance Authority (ASF).