Romania Employee Benefits Report

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Romania

Details of the state and compulsory benefits
Insight into typical market practice
Examines changes to the costs and benefits of social security and mandatory benefits requirements
Demographic and economic information including projections
Mandatory pension provision, normal and parental leave and other state benefits
Details of applicable taxation
Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Romania. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Romania provides expert analysis of the Romanian benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Romania or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Romania, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Romania, the report outlines the employment benefits requirements for your employees in Romania. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Romania, the local political situation, and climate, operational, and security risks.

Romania Report Extract

Below is a very brief extract of information from the Romanian Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided under the social security system as follows:

pillar I - public pension system, administered by the National House of Public Pensions (Casa Nationala de Pensii Publice - CNPP)

pillar II - mandatory private pensions system, administered by mandatory pension funds.

Typical Employer Practice

Employers do not typically provide supplementary retirement benefits.

The report contains more information on retirement benefits in Poland including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more

Termination Indemnities

Benefit provider

State & Compulsory Benefits

There are no mandatory termination indemnities as such in Romania; however, employers may be required to provide supplementary termination indemnities where prescribed under a collective agreement or labour contract (see Typical Employer Practice for detail).

Employers may terminate the contract of employment under any circumstances provided appropriate notice is given; the statutory notice period is equal to at least 20 working days.

Typical Employer Practice

Employers may be required to provide supplementary termination indemnities where prescribed under a collective agreement or labour contract.

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report

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