IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/41996.html
   My bibliography  Save this paper

Reformed Pensions Systems in Central and Eastern Europe: Challenges to future safe pension benefits

Author

Listed:
  • Lazarevski, Dimche
  • Mrsik, Jadranka

Abstract

The objective of this paper is to examine and analyze empirically whether the Central and Eastern Europe countries` reformed pension systems are providing adequate and safe pensions. Starting in 1990s, most Central and Eastern European countries radically reformed their pension systems. The rising optimism initiates many studies where the advantages of the reforms were in the focus. The global financial crisis negatively affects the reformed pension systems. As a response, the policy makers in few of those countries decided to set up different measures: increasing or reducing the pension contribution for alleviating the fiscal deficit or encouraging the employment, adapting the contribution rate and allowing individuals to switch back to the old system. These last changes in the pension systems have triggered the following question: How much and in which way the implementation and experiences gained with the functioning of the reform pension system will have impact in the future pension adequacy and sustainability of the pension system?

Suggested Citation

  • Lazarevski, Dimche & Mrsik, Jadranka, 2012. "Reformed Pensions Systems in Central and Eastern Europe: Challenges to future safe pension benefits," MPRA Paper 41996, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:41996
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/41996/1/MPRA_paper_41996.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Corbanese, Valli., 2011. "Supporting strategies to recover from the crisis in Croatia, the former Yugoslav Republic of Macedonia and Serbia : cross-country report," ILO Working Papers 994671463402676, International Labour Organization.
    2. Corbanese, Valli,, 2011. "Supporting strategies to recover from the crisis in Croatia, the former Yugoslav Republic of Macedonia and Serbia cross-country report," ILO Working Papers 995195493402676, International Labour Organization.
    3. David Tuesta, 2011. "A review of the pension systems in Latin America," Working Papers 1115, BBVA Bank, Economic Research Department.
    4. Peter Jarrett, 2011. "Pension Reforms in Poland and Elsewhere: the View from Paris," CASE Network Studies and Analyses 425, CASE-Center for Social and Economic Research.
    5. repec:ilo:ilowps:467146 is not listed on IDEAS
    6. Guardiancich, Igor, 2008. "The sustainability of pension reforms in central, eastern and south-eastern Europe," SEER Journal for Labour and Social Affairs in Eastern Europe, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 11(2), pages 185-197.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marcinkiewicz Edyta, 2017. "Factors Affecting the Development of Voluntary Pension Schemes in CEE Countries: A Panel Data Analysis," Central European Economic Journal, Sciendo, vol. 3(50), pages 26-40, December.

    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. Balázs Egert, 2012. "The impact of changes in second pension pillars on public finances in Central and Eastern Europe," Working Papers hal-04141069, HAL.
    2. Beetsma, Roel & Komada, Oliwia & Makarski, Krzysztof & Tyrowicz, Joanna, 2021. "The political (in)stability of funded social security," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    3. David Tuesta, 2015. "The informal economy and the constraints that it imposes on pension contributions in Latin America," Working Papers 1419, BBVA Bank, Economic Research Department.
    4. Marek Dabrowski, 2016. "Fiscal Sustainability: Conceptual, Institutional, and Policy Issues," CASE Network Reports 0128, CASE-Center for Social and Economic Research.
    5. Meiram Zhandildin, 2015. "Pension System Reform in Emerging Countries," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 7(1), pages 65-88, January.
    6. Krzysztof Makarski & Joanna Tyrowicz, 2015. "Political (In)Stability of Social Security Reform," Working Papers 2015-21, Faculty of Economic Sciences, University of Warsaw.
    7. Marga Peeters & Loek Groot, 2012. "A Global View On Demographic Pressure And Labour Market Participation," Journal of Global Economy, Research Centre for Social Sciences,Mumbai, India, vol. 8(2), pages 165-194, June.
    8. Laura Raisa Miloş & Carmen Corduneanu, 2011. "Diversity Of The Pension Systems In The European Union Countries"," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 58, pages 145-155, november.
    9. Luis J. Carranza & Angel Melguizo & David Tuesta, 2012. "Matching Contributions for Pensions in Colombia, Mexico, and Peru: Experiences and Prospects," Working Papers 1232, BBVA Bank, Economic Research Department.
    10. Bielawska, Kamila & Chłoń-Domińczak, Agnieszka & Stańko, Dariusz, 2017. "Retreat from mandatory pension funds in countries of the Eastern and Central Europe in result of financial and fiscal crisis: Causes, effects and recommendations for fiscal rules," MPRA Paper 83345, University Library of Munich, Germany.
    11. Emma Aguila & Michael D. Hurd & Susann Rohwedder, 2014. "How Do Management Fees Affect Retirement Wealth Under Mexico’s Personal Retirement Accounts System?," Working Papers WR-1023, RAND Corporation.

    More about this item

    Keywords

    reformed pension systems; financial crisis; sustainability of pension systems; government measures; pension contributions; pension benefits;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:pra:mprapa:41996. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.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.