Chamber of Deputies decides: Everybody retires at 65

The Chamber of Deputies adopted the uniform pension law on Wednesday evening, after a 10-hour marathon debate, one of the most important and controversial laws of the current Cabinet, with long-term effects, which sets the retirement age at 65 by 2030, both for men and for women (from the current 63 and nine months for men and 58 and nine months for women).

The Chamber of Deputies is the decision maker in the case of this draft law, so the law can now be sent for promulgation, but things are not likely to end here. Opposition party PSD (Social Democratic Party) announced it would challenge the law before the Constitutional Court, while trade unions threaten massive protests, asking President Traian Basescu not to promulgate the law. The trade unions challenge the raising of the retirement age, as well as the abolishment of occupational pensions, and threaten legal action against the Government.

The retirement age problem is a major issue across the entire European Union, which faces a dwindling birth rate and heightened efforts to cover the pension fund. In May, the European Commission recommended to all EU countries to raise the retirement age, with the issue being hotly debated in many EU countries – approved by politicians and vehemently contested by employees.