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Considerations of pensions reform

Author

Listed:
  • Gheorghe MATEI
  • Marcel DRACEA

    (University of Craiova)

Abstract

The national pension systems problem worsens more and more, in more countries of the world. The PAY-AS-YOU-GO (PAYG) pension systems, based exclusively on the solidarity of the generations, are confronting problems more and more difficult to solve. Their origin is found in the evolution and demographic tendencies concerning concomitant population ageing with reduced birth rate, the longer average life duration, inflation, the bigger and bigger costs needed by the post-active period in early retirement, in growing the quality of life and, very importantly, in reducing the rate of dependence (respectively reducing the number of tax payers and growing the number of pensioners). Most of the countries of the world are confronting this kind of situations.

Suggested Citation

  • Gheorghe MATEI & Marcel DRACEA, 2008. "Considerations of pensions reform," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(7), pages 45-51, May.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2008:i:7:p:45-51
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    File URL: http://feaa.ucv.ro/FPV/007-06.pdf
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    More about this item

    Keywords

    pension system; pay-as-you-go; reform; social protection;
    All these keywords.

    JEL classification:

    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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