IDEAS home Printed from https://ideas.repec.org/a/jes/wpaper/y2020v12i4p282-297.html
   My bibliography  Save this article

The importance of health status for the financial sustainability of the pension system. A case study of Romania in the context of the EU

Author

Listed:
  • Iuliana-Claudia MIHALACHE

    (PhD Student at Alexandru Ioan Cuza University of Iasi, Romania)

  • Felicia-Cătălina APETROI (RĂCOARE)

    (PhD Student at University of Seville, Spain)

  • Mihaela TOMAZIU-TODOSIA

    (PhD Student at Alexandru Ioan Cuza University of Iasi, Romania)

  • Olesea PLOTNIC

    (Associate professor at Academy of Economic Studies of Moldova, Chișinău, Republic of Moldova)

Abstract

Based on the need for a prosperous economy, it is important to increase the quality of life of the active population in particular, but also of the inactive, in order to reduce the consumption of free and/or reimbursed medicines. In this regard, social security and protection systems need to consider improving working conditions, expanding the network of medical services, creating medical, social and professional recovery systems, continuously improving the material and medical situation of people, in order to increase the time of productive activity. This study aims to analyse the evolution of pension categories in Romania for the period 1990-2018, as well as the correlation between health and financial sustainability of the pension system, with an emphasis on healthy life expectancy. In order to develop the case study, the authors consider the evolution of this system in the last decade in Romania, following the average number of people retiring early, as well as people receiving disability pensions.

Suggested Citation

  • Iuliana-Claudia MIHALACHE & Felicia-Cătălina APETROI (RĂCOARE) & Mihaela TOMAZIU-TODOSIA & Olesea PLOTNIC, 2021. "The importance of health status for the financial sustainability of the pension system. A case study of Romania in the context of the EU," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12(4), pages 282-297, February.
    • Handle: RePEc:jes:wpaper:y:2020:v:12:i:4:p:282-297
    as

    Download full text from publisher

    File URL: https://ceswp.uaic.ro/articles/CESWP2020_XII4_MIH.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Schludi, Martin, 2005. "The Reform of Bismarckian Pension Systems," University of Chicago Press Economics Books, University of Chicago Press, number 9789053567401.
    2. James Banks & Richard Blundell & Antoine Bozio & Carl Emmerson, 2012. "Disability, Health and Retirement in the United Kingdom," NBER Chapters, in: Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participatio, pages 41-77, National Bureau of Economic Research, Inc.
    3. Marten Hillebrand, 2008. "Pension Systems, Demographic Change, and the Stock Market," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-77972-8, July.
    4. Leslie E. Papke, 1999. "Are 401(k) Plans Replacing Other Employer-Provided Pensions? Evidence from Panel Data," Journal of Human Resources, University of Wisconsin Press, vol. 34(2), pages 346-368.
    5. Francesco Paolucci, 2011. "Health Care Financing and Insurance," Developments in Health Economics and Public Policy, Springer, number 978-3-642-10794-8, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Leora Friedberg & Michael T. Owyang, 2004. "Explaining the evolution of pension structure and job tenure," Working Papers 2002-022, Federal Reserve Bank of St. Louis.
    2. Bassett, William F. & Fleming, Michael J. & Rodrigues, Anthony P., 1998. "How Workers Use 401(K) Plans: The Participation, Contribution, and Withdrawal Decisions," National Tax Journal, National Tax Association;National Tax Journal, vol. 51(2), pages 263-289, June.
    3. Halit Yanıkkaya & Zeynep Aktaş Koral & Sadettin Haluk Çitçi, 2023. "The Power of Financial Incentives versus the Power of Suggestion for Individual Pension: Are Financial Incentives or Automatic Enrollment Policies More Effective?," Sustainability, MDPI, vol. 15(4), pages 1-18, February.
    4. Poteraj, Jarosław, 2008. "Pension systems in 27 EU countries," MPRA Paper 31053, University Library of Munich, Germany.
    5. Benjamin, Daniel J., 2003. "Does 401(k) eligibility increase saving?: Evidence from propensity score subclassification," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1259-1290, May.
    6. Friedberg, Leora & webb, anthony, 2000. "The Impact of 401(k) Plans on Retirement," University of California at San Diego, Economics Working Paper Series qt2jr5w8b9, Department of Economics, UC San Diego.
    7. Papke, Leslie E., 2004. "Individual financial decisions in retirement saving plans: the role of participant-direction," Journal of Public Economics, Elsevier, vol. 88(1-2), pages 39-61, January.
    8. Manos Matsaganis, 2007. "Union Structures and Pension Outcomes in Greece," British Journal of Industrial Relations, London School of Economics, vol. 45(3), pages 537-555, September.
    9. Leora Friedberg & Anthony Webb, 2005. "Retirement and the Evolution of Pension Structure," Journal of Human Resources, University of Wisconsin Press, vol. 40(2).
    10. Martin Hering, 2005. "Welfare Restructuring without Partisan Cooperation: The Role of Party Collusion in Blame Avoidance," Social and Economic Dimensions of an Aging Population Research Papers 142, McMaster University.
    11. Gopi Shah Goda & Colleen Flaherty Manchester, 2013. "Incorporating Employee Heterogeneity into Default Rules for Retirement Plan Selection," Journal of Human Resources, University of Wisconsin Press, vol. 48(1), pages 198-235.
    12. Kandice Kapinos, 2012. "Changes in Firm Pension Policy: Trends Away from Traditional Defined Benefit Plans," Journal of Labor Research, Springer, vol. 33(1), pages 91-103, March.
    13. Miroslav Verbič & Rok Spruk, 2019. "Political economy of pension reforms: an empirical investigation," European Journal of Law and Economics, Springer, vol. 47(2), pages 171-232, April.
    14. Hinrichs, Karl, 2015. "In the wake of the crisis: Pension reforms in eight European countries," Working papers of the ZeS 01/2015, University of Bremen, Centre for Social Policy Research (ZeS).
    15. Eric M. Engen & William G. Gale & John Karl Scholz, 1996. "The Effects of Tax-Based Saving Incentives On Saving and Wealth," NBER Working Papers 5759, National Bureau of Economic Research, Inc.
    16. Sadettin Haluk Citci & Halit Yanikkaya, 2023. "The Impacts of Matching Contributions on Retirement Savings: Evidence from a Quasi-Natural Experiment in Turkey," Working Papers 2022-02, Gebze Technical University, Department of Economics.
    17. Juan Pablo Martinez Guzman & Travis St. Clair, 2021. "Pension reform and self‐employment in Latin America," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2230-2254, November.
    18. Vandenberghe Vincent, 2021. "Differentiating retirement age to compensate for health differences," IZA Journal of Labor Policy, Sciendo & Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 11(1), pages 1-34, May.
    19. Johannes Lindvall, 2010. "Power Sharing and Reform Capacity," Journal of Theoretical Politics, , vol. 22(3), pages 359-376, July.
    20. James Banks & Richard Blundell & Carl Emmerson, 2015. "Disability Benefit Receipt and Reform: Reconciling Trends in the United Kingdom," Journal of Economic Perspectives, American Economic Association, vol. 29(2), pages 173-190, Spring.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jes:wpaper:y:2020:v:12:i:4:p:282-297. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alupului Ciprian (email available below). General contact details of provider: https://edirc.repec.org/data/csjesro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.