IDEAS home Printed from https://ideas.repec.org/a/vrs/ecothe/v54y2016i1p61-82n4.html
   My bibliography  Save this article

Determinants of the Level of Contributions for Pension and Disability Insurance: The EU and Serbia

Author

Listed:
  • Nikolić Milena

    (PhD student, University of Niš, Faculty of Economics, Serbia)

  • Rakić Biljana

    (University of Niš, Faculty of Economics, Serbia)

Abstract

Both in theory and practice, great attention is paid to the analysis of the pension expenditures level, their determinants, as well as the options for their reduction, whereas the analysis of the revenues level and contributions, as the most significant revenue in contribution-based pension systems, is often neglected. The aim of this paper is to analyse the determinants of the level of contributions for pension and disability insurance in order to identify options for increasing their levels in the pension system of the Republic of Serbia. By using the comparative method, a comparative analysis of data about the trends of the most significant determinants of contribution levels among the European Union Member States and Serbia is performed. Research results have shown that increase in the contribution level for pension and disability insurance in the Republic of Serbia can be achieved by extending the definition of contribution base of employees, increasing the average effective retirement age and increasing the effective population coverage by this insurance. In addition to pointing out the options for increasing the contribution level for pension and disability insurance, the authors also propose the measures which can be applied in order to affect the increase of the contribution level for this insurance and, therefore, the total revenues level of the pension system of the Republic of Serbia.

Suggested Citation

  • Nikolić Milena & Rakić Biljana, 2016. "Determinants of the Level of Contributions for Pension and Disability Insurance: The EU and Serbia," Economic Themes, Sciendo, vol. 54(1), pages 61-82, March.
    • Handle: RePEc:vrs:ecothe:v:54:y:2016:i:1:p:61-82:n:4
    DOI: 10.1515/ethemes-2016-0004
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/ethemes-2016-0004
    Download Restriction: no
    File URL: https://libkey.io/10.1515/ethemes-2016-0004?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Pallares-Miralles, Montserrat & Romero, Carolina & Whitehouse, Edward, 2012. "International patterns of pension provision II : a worldwide overview of facts and figures," Social Protection Discussion Papers and Notes 70319, The World Bank.
    2. Bailey, Clive & Turner, John, 2001. "Strategies to Reduce Contribution Evasion in Social Security Financing," World Development, Elsevier, vol. 29(2), pages 385-393, February.
    3. Rofman, Rafael & Demarco, Gustavo, 1999. "Collecting and transferring pension contributions," Social Protection Discussion Papers and Notes 20122, The World Bank.
    4. Montserrat Pallares-Miralles & Carolina Romero & Edward Whitehouse, 2012. "A Worldwide Overview of Facts and Figures," World Bank Publications - Reports 11891, The World Bank Group.
    5. Yu-Wei Hu & Fiona Stewart, 2009. "Pension Coverage and Informal Sector Workers: International Experiences," OECD Working Papers on Insurance and Private Pensions 31, OECD Publishing.
    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. Eugeni, Sara, 2015. "An OLG model of global imbalances," Journal of International Economics, Elsevier, vol. 95(1), pages 83-97.
    2. Norman V. Loayza, 2016. "Informality in the Process of Development and Growth," The World Economy, Wiley Blackwell, vol. 39(12), pages 1856-1916, December.
    3. World Bank & African Development Bank, 2020. "Tunisia Public Expenditure Review [Tunisie Revue des Dépenses Publiques]," World Bank Publications - Reports 33854, The World Bank Group.
    4. Koomen, Miriam & Wicht, Laurence, 2022. "Pension systems and the current account: An empirical exploration," Journal of International Money and Finance, Elsevier, vol. 120(C).
    5. Hsin-Ling Hsieh & Shin-Yi Chou & Echu Liu & Hsien-Ming Lien, 2015. "Strengthening or Weakening? The Impact of Universal Health Insurance on Intergenerational Coresidence in Taiwan," Demography, Springer;Population Association of America (PAA), vol. 52(3), pages 883-904, June.
    6. Robert Holzmann, 2013. "Global pension systems and their reform: Worldwide drivers, trends and challenges," International Social Security Review, John Wiley & Sons, vol. 66(2), pages 1-29, April.
    7. Börsch-Supan, A. & Härtl, K. & Leite, D.N., 2016. "Social Security and Public Insurance," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 781-863, Elsevier.
    8. Achim Kemmerling & Michael Neugart, 2019. "Redistributive pensions in the developing world," Review of Development Economics, Wiley Blackwell, vol. 23(2), pages 702-726, May.
    9. Mira Krpan & Ana Pavkovic & Berislav Zmuk, 2020. "Cluster analysis of new EU member states' pension systems," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 18(2B), pages 208-222.
    10. Emilia CLIPICI, 2014. "Considerations Concerning Public Pension System," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 13(2), pages 60-65.
    11. Munyambonera, Ezra & Katunze, Miriam & Munu, Martin Luther & Sserunjogi, Brian, 2018. "Expanding the Pension Sector in Uganda," Research Series 275661, Economic Policy Research Centre (EPRC).
    12. Markus Leibrecht & Joelle H. Fiong, 2017. "Economic Crises and Globalisation as Drivers of Pension Privatisation: an Empirical Analysis," ICMA Centre Discussion Papers in Finance icma-dp2017-05, Henley Business School, University of Reading.
    13. International Monetary Fund, 2013. "Mauritius: 2013 Article IV Consultation," IMF Staff Country Reports 2013/097, International Monetary Fund.
    14. Maria Laura Alzua & Natalia Cantet & Ana Dammert & Damilola Olajide, 2019. "Welfare Effects of a Non-Contributory Old Age Pension: Experimental Evidence for Ekiti State, Nigeria," Working Papers PIERI 2019-15, PEP-PIERI.
    15. Katerina Lisenkova & Kateryna Bornukova, 2017. "Effects of population ageing on the pension system in Belarus," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 17(2), pages 103-118.
    16. Bando, Rosangela & Galiani, Sebastian & Gertler, Paul, 2022. "Another brick on the wall: On the effects of non-contributory pensions on material and subjective well being," Journal of Economic Behavior & Organization, Elsevier, vol. 195(C), pages 16-26.
    17. Demarco, Gustavo & Rofman, Rafael & Whitehouse, Edward, 1998. "Supervising mandatory funded pension systems: issues and challenges," MPRA Paper 16348, University Library of Munich, Germany.
    18. Renuka Sane & Susan Thomas, 2015. "In Search of Inclusion: Informal Sector Participation in a Voluntary, Defined Contribution Pension System," Journal of Development Studies, Taylor & Francis Journals, vol. 51(10), pages 1409-1424, October.
    19. Todd Kumler & Eric Verhoogen & Judith Frías, 2020. "Enlisting Employees in Improving Payroll Tax Compliance: Evidence from Mexico," The Review of Economics and Statistics, MIT Press, vol. 102(5), pages 881-896, December.
    20. Florian Baumann & Tim Friehe & Marcus Jansen, 2009. "On the Economics of Contribution Evasion," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 65(2), pages 162-177, June.

    More about this item

    Keywords

    pension system; pension and disability insurance; determinants of the level of contributions; the European Union; Serbia;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

    Statistics

    Access and download statistics

    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:vrs:ecothe:v:54:y:2016:i:1:p:61-82:n:4. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.