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The Effectiveness of Pension Systems in Some Countries of Central and Eastern Europe

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  • Nicolae BalteÈ™

    („Lucian Blaga†University of Sibiu)

  • Ștefania Amalia Jimon

    („Lucian Blaga†University of Sibiu)

Abstract

Pension system is the main structure of financial protection of elderly. Worldwide, it can be found some archetypical models of pension systems organization. In most countries from Central and Eastern Europe pension systems are based on the contributory principle and solidarity between generations. This paper aims to appreciate the effectiveness of pension systems in five countries of Central and Eastern Europe, including Romania, in the period 2007- 2017. Therefore, it was considered both microeconomic perspective of pension systems beneficiaries, and macroeconomic perspective, through the equilibrium of social insurance budget and the amount of contributions applied to labor market. The research leaded to the conclusion that the pension systems implemented in countries of Central and Eastern Europe, regardless of their organization, have both advantages and limitations, but the success of any national pension system is given by the adequacy to national context and conditions.

Suggested Citation

  • Nicolae BalteÈ™ & Ștefania Amalia Jimon, 2019. "The Effectiveness of Pension Systems in Some Countries of Central and Eastern Europe," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 555-561, August.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:1:p:555-561
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    References listed on IDEAS

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    More about this item

    Keywords

    contributory pension systems; social transfers; intergenerational support; pension adequacy;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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