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Romania is Canada's largest trading partner in Southeast Europe. The flagship project for Canada is the Cernavodă Nuclear Power Plant established with Atomic Energy of Canada Limited (AECL). The first nuclear reactor has been in operation since 1996 and the official launch of the second nuclear reactor took place in 2007.
The last major pension reform in Romania occurred during a 2009-2010 IMF-led aid deal, when the retirement age was raised to 65 for men and 63 for women, and some spending caps were enforced ...
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In the public pension system, the amount of old-age pension is calculated on the basis of the contribution period achieved along with the applicant's career, the level of income that was used to calculate social insurance contributions, and the value of a pension point. Since 1 September 2019 the value of a pension point is 1265 Romanian lei. [2]
Note: Under US tax code and the double taxation agreement, a transfer from a UK-registered pension to another UK-registered pension is deemed to be qualifying. IRS Memorandum AM 2008-009 ( 21 August 2008 ) under Section 402(c)(4) means that with relation to tax, a transfer from a UK-registered pension outside of the original state (the UK) is ...
The system worked even during World War II, as the King of Romania himself encouraged the concept of social welfare. [5] After the war ended and the Communist regime came to power, Romania became a socialist state, and therefore social welfare became widespread. [6] In 1990, after the fall of the communist regime, the whole system was reformed ...
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(Reuters) - Romania and Bulgaria will become full members of Europe'sSchengen free-travel area from next month, swelling the number of nations to 29, the EU said on Thursday.