The Romanian President, Klaus Iohannis, promulgated the law ratifying the Agreement between Romania and the USA on the mutual recognition of periods of work and pension rights.
Romania and USA mutual recognition of work and pension rights permits the incorporation of time spent working in both the USA and Romania when calculating pension benefits in accordance with the aggregation principle.
Additionally, the legislation contains provisions that regulate the collection of pensions in the state selected by the beneficiaries. This feature significantly enhances the ease of movement for retirees between the two states. The retirees will retain access to their pension rights in payment while traveling. Moreover, the Agreement includes provisions to prevent employees from making duplicate social security contributions.
The signing of an additional agreement exempts employees currently stationed in a particular state from making social security contributions to the national scheme.
The social security provisions of the Agreement shall apply not only to persons who are or have been subject to the laws of one or both States, but also to persons whose rights derive from those laws under the applicable laws.
The document relates to the regulations concerning social security health contributions and pensions and death benefits in the public pension system in Romania.
This is the official link to the press announcement: https://mmuncii.ro/j33/index.php/ro/comunicare/comunicate-de-presa/7149-cp-perioade-munca-si-dreptul-pensie-recunoscute-romania-sua-03012024
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