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Impact of Economic Factors on the Process of Population Transition from Labour Activity to Pension in the Republic of Moldova

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  • Savelieva Galina

    (Ph.D., Associate Professor Researcher, Center for Demographic Research National Institute for Economic Research, Academy of Economic Studies of Moldova Republic of Moldova)

  • Zaharov Svetlana

    (Ph.D., Scientific Researcher Center for Demographic Research, National Institute for Economic Research, Academy of Economic Studies of Moldova Republic of Moldova)

Abstract

The purpose of research is to analyse the impact of population ageing process on labour force market, as well as economic factors on the transition from labour activity to pension in the Republic of Moldova. The change in the structure of labour force to wards elder ages, as well as interruption of active economic activity and retirement is one of the factors in economic growth slowdown, which is conditioned by a reduction of labour force reproduction and its growth. In this situation, in order to mitigate the negative consequences of labour force deficit, it is necessary to take effective measures to increase labour productivity not only to ensure economic growth, but also to ensure the welfare of the country’s population and meet the necessities of an increased share of the population-dependents (both the elderly population and children under 15). Taking into account the relevance of the above-mentioned problem, the analysis of the relationship between economic factors and the transition from labour activity to pension in the conditions of demographic ageing was carried out, including the evaluation of the role of economic factors in making a decision to exit from the labour market to pension. In this context, the comparative quantitative and qualitative analysis of tendencies in the economically active and employed population was carried out, including pre- and pension ages and the phenomenon of precarious employment, the demographic coefficient of dependence on old age, the dependence of pension from the income level, and the financial stability of the Social Insurance Budget. The proposals to improve the effectiveness of government policies in regulation and harmonization the transition from the labour market to pension, including the continuation of active economic activity was elaborated in order to reduce the negative consequences connected with the process of population ageing and to ensure the stability of labour market development. The article is developed in the framework of the research Subprogramme “The demographic transition in the Republic of Moldova: particularities, socioeconomic implications and demographic resilience straightening” (2024-2027).

Suggested Citation

  • Savelieva Galina & Zaharov Svetlana, 2024. "Impact of Economic Factors on the Process of Population Transition from Labour Activity to Pension in the Republic of Moldova," HOLISTICA – Journal of Business and Public Administration, Sciendo, vol. 15(1), pages 47-72.
    • Handle: RePEc:vrs:hjobpa:v:15:y:2024:i:1:p:47-72:n:1004
    DOI: 10.2478/hjbpa-2024-0004
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    References listed on IDEAS

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    1. Evsey T. Gurvich & Maria A. Ivanova, 2018. "Economic Effect of Population Ageing and Pension Reforms," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 9-22, October.
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    3. Nicole Maestas & Kathleen J. Mullen & David Powell, 2016. "The Effect of Population Aging on Economic Growth, the Labor Force and Productivity," NBER Working Papers 22452, National Bureau of Economic Research, Inc.
    4. Keisuke Otsu & Katsuyuki Shibayama, 2016. "Population Aging and Potential Growth in Asia," Asian Development Review, MIT Press, vol. 33(2), pages 56-73, September.
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