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Impact Of Covid-19 On Private Retirement Savings In Serbia

Author

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  • Milica Papić

Abstract

The outbreak of the COVID-19 pandemic and the related economic downturn have impacted retirement savings, retirement saving schemes, providers, regulators and supervisors, potentially leading to future lower incomes during retirement and significant dysfunctions in the market. The main goal of this paper is to investigate how key indicators of the voluntary pension funds market in the Republic of Serbia were influenced by the Pandemic. The Pandemic certainly had an important effect, and we all had the opportunity to learn first-hand that low frequency high severity events do happen, so they are not only scenarios for a tabletop exercise for something that we should expect but something we need to be prepared for. This goal will be achieved using secondary data such as the data offered by the National Bank of Serbia, OECD Directorate for Financial and Enterprise Affairs, etc. Finally, this paper will present a comparative analysis of the effects of the pandemic on the market of voluntary pension funds in the Republic of Serbia and OECD member countries.

Suggested Citation

  • Milica Papić, 2023. "Impact Of Covid-19 On Private Retirement Savings In Serbia," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 48, pages 67-88, March.
    • Handle: RePEc:beo:ekidpr:y:2023:i:48:p:67-88
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    File URL: https://www.ekof.bg.ac.rs/journals/eip/48/05.pdf
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    More about this item

    Keywords

    COVID-19; voluntary pension funds; economic downturn;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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