The state social insurance budget contains sufficient financial resources for making payments following the valorization of pensions announced by the Government, senior state adviser on health protection and social development Mircea Buga stated in the program “Fabrika” on Publika TV channel, IPN reports.

According to him, the valorization will no way lead to lower pensions. “The sum that will be added to the pensions of these persons will have an enormous impact on their lives, their social status and the daily life of their families,” stated Mircea Buga.

Acting deputy minister of health, labor and social protection Viorica Dumbraveanu said the valorization of pensions means adjustment of the social insurance contributions that were paid by people to the value of money in time, taking into account the contributive period by the day the pension was set.

Chairwoman of the National House of Social Insurance Alura Grecu said the people will not have to go in person to the local houses of social insurance to have their pensions valorized because this is an automated process. “On the next payment date, the pension will be already higher compared with the previous month,” she stated.

Under a recent Government decision, the second stage of valorizing the old-age and disability pensions will start on November 1, 2017, not on April 1, 2018 as it was projected initially. After valorization, the old-age pensions will rise by 266 lei, while the disability pensions by 274 lei on average.