Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS


Gov't approves US-Romania Social Security Totalization Agreement


The Romanian government on Thursday approved a social security totalization agreement between Romania and the US.

"The government made a decision today regarding the mutual recognition between Romania and the United States of America of the periods of work and the right to pension for the citizens of the two countries.A government decision approved today establishes the implementation of the bilateral social security agreement. With the entry into force of this agreement, it will be possible to capitalise on the times worked both in Romania and in the US in order to open the right to pension on the principle of totalization, with each country paying such pensions proportionally," governmental spokesperson Mihai Constantin told a news conference on Thursday

He added that, according to data obtained through diplomatic channels, about 500,000 people of Romanian origin are registered in the United States, adding that it is very possible that the number is much higher.

"And this mechanism (...) which today acquires a new component, will hopefully encourage the citizens of the two countries to notify their social security managers in order to benefit from the contributions paid, at retirement age," Constantin said.

"The document will enter into force on the first day of the fourth month of the date of the last note in which the states notify each other through diplomatic channels of the fulfilment of the internal procedures necessary for its entry into force." 



Friday, June 14, 2024