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The public pension system in Romania – analysis before and after 1999

Author

Listed:
  • Lucia Croitoru

    (Romanian-American University Bucharest, Faculty of Domestic and International Commercial and Financial Banking Relations)

  • Laurentiu Baranga

    (Titu Maiorescu University Bucharest)

  • A.Predescu

    (Spiru Haret University Bucharest, Faculty of Accounting and Finance)

  • Alexandra Pricopi

    (Romanian-American University Bucharest, Faculty of Domestic and International Commercial and Financial Banking Relations)

Abstract

Objectives This paper aims to examine the public pension system in Romania and the significant differences that 1999 brought it. It is important to see if system effects such as the number of beneficiaries and collapse on the number of taxpayers are experienced in present. It explores the main types of pension granted in the public pension system - pensions for old age. Approach It is an attempt to identify the main sources (contributions owed by employers and employees) and also the way pensions are calculated and given before and after 1999. Results We conclude that public pension system in Romania has suffered many changes in a positive way. Implications For taxpayers, both employers and employees it is important that the public pension system work in optimal conditions, that the minimum and maximum contribution "stage" take the proper values. Value Knowing the importance of the public pension system in the Romanian society will know what measures should be taken to improve it..

Suggested Citation

  • Lucia Croitoru & Laurentiu Baranga & A.Predescu & Alexandra Pricopi, 2011. "The public pension system in Romania – analysis before and after 1999," EuroEconomica, Danubius University of Galati, issue 30, pages 55-59, November.
    • Handle: RePEc:dug:journl:y:2011:i:30:p:55-59
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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/1108/904
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    References listed on IDEAS

    as
    1. Georges de Menil & Eytan Sheshinski, 2002. "Romania's Pension System: From Crisis to Reform," NBER Chapters, in: Social Security Pension Reform in Europe, pages 401-438, National Bureau of Economic Research, Inc.
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    2. Georges de Menil, 2000. "A Comment on the Place of Funded Pensions in Transition Economies," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 7(4), pages 431-444, August.

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