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Factors that Potentially Affect the Financial Sustainability of the Pension System in Romania

Author

Listed:
  • Luise Mladen

    (National Scientific Research Institute for Labour and Social Protection and SpiruHaret University)

  • Mihaela Ghenta

    (National Scientific Research Institute for Labour and Social Protection)

Abstract

In Romania, the State Social Security Budget spending exceeds the revenues, and this situation leads to a growing deficit of the public budget. This evolution is the result of a complex of factors, more or less difficult to be managed, which we analyze in this article. The phenomenon of ageing has a significant role in increasing the pressure on the social protection systems, in general, and on the pension system, in particular. Also, the labour market related factors and the economic factors have an important impact on the sustainability of the pension system. The design of the pension system is equally important.

Suggested Citation

  • Luise Mladen & Mihaela Ghenta, 2017. "Factors that Potentially Affect the Financial Sustainability of the Pension System in Romania," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 6(2), pages 14-23, June.
    • Handle: RePEc:sph:rjedep:v:6:y:2017:i:2:p:14-23
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    References listed on IDEAS

    as
    1. Grech, Aaron George, 2010. "Assessing the sustainability of pension reforms in Europe," MPRA Paper 27407, University Library of Munich, Germany.
    2. Oliver Reimers, 2015. "Tax Evasion and the Shadow Economy," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(04), pages 61-62, January.
    3. Oliver Reimers, 2015. "Tax Evasion and the Shadow Economy," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(4), pages 61-62, 01.
    4. repec:ces:ifodic:v:12:y:2015:i:4:p:19149998 is not listed on IDEAS
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    More about this item

    Keywords

    pensionsystems; ageing; financial sustainability;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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