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Does The Albanian Pension System Work?

Author

Listed:
  • Dorina Kripa

    (Faculty of Economy, University of Tirana, Tirana, Albania)

  • Edlira Luci

    (Faculty of Economy, University of Tirana, Tirana, Albania)

Abstract

This article analyses the reforms in the pension scheme in Albania during the transition period. An analysis of changes experienced by the performance of the social insurance scheme reveals that, so far, the system is almost entirely dominated by the public scheme “pay as you go”, which for the moment is facing serious challenges. The results of the prognoses show that that these problems will accompany the scheme in the future too. Under these circumstances, it can be inferred that, in addition to the application of parametric modifications to the public scheme in order to strengthen its financial stability, the initiation of a more radical reform in the pension system is becoming crucial. The same conclusion has been reached by many countries which have completed this reform. The pa-per concludes with some recommendations on how to carry out the reform of the public pension scheme and it proposes the introduction of a multicolumn pension system.

Suggested Citation

  • Dorina Kripa & Edlira Luci, 2010. "Does The Albanian Pension System Work?," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 193-206, november.
    • Handle: RePEc:aic:journl:y:2010:v:57:p:193-206
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    References listed on IDEAS

    as
    1. Börsch-Supan, Axel, 2003. "What are NDC Pension Systems? What Do They Bring to Reform Strategies?," MEA discussion paper series 03042, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
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      More about this item

      Keywords

      Pension funds; parametric reforms of pension funds; performance of social security system; dependency ratio;
      All these keywords.

      JEL classification:

      • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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