Romania raises retirement age and pension costs from July 2026

Effective 1 July 2026 Romania will increase the statutory retirement age for women by one month to 62 years 7 months, moving toward equalisation with the male age of 65 by 2035. Men’s retirement age remains at 65. The same date will see the cost of purchasing pension seniority rise from 12 150 lei to 12 975 lei per year – an extra 825 lei – as the minimum gross wage rises to 4 325 lei. Under Law 360/2023, people may buy up to six years of missing contribution years, with contracts between the individual and the national pension house.

Early‑retirement rules are also tightened. Applicants must be at least 60 years old with 40 years of contributions to retire early without penalty; otherwise a sliding penalty applies (0.40 % per month for up to one extra year of service, decreasing to 0.20 % for five extra years). The law eliminates partially‑early retirement and caps early retirement to five years before the standard age.

The private pension system continues to expand, with total assets reaching 220.41 billion lei in Q1 2026 – a 33 % increase year‑on‑year – and 11.5 % of GDP invested across Pillar II (212.6 bn lei) and Pillar III (7.86 bn lei).

Additionally, Romanian pensioners receiving benefits from Germany will see an extra payment of about €611 (≈3 200 lei) after a 4.24 % increase in German pensions announced for July 2026.