Financial stability of pension system in the European Union member states

Sabina Hod?i? (sabinah@fthm.hr), Lucija Rogi? Duman?i? (lrogic@efzg.hr) and Emira Be?i? (becic.emira@gmail.com)
Additional contact information
Sabina Hod?i?: Faculty of Tourism and Hospitality Management, University of Rijeka
Lucija Rogi? Duman?i?: Faculty of Economics and Business, University of Zagreb
Emira Be?i?: Croatian Bureau of Statistics

No 9912130, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: The pension systems in European Union member states are very diverse, due to traditions how to provide retirement income, and to phases of the reform process. This system is also very important in the context of the social security of every individual or the society in which is settled. Since the system is influenced by changes in demographic fluctuations, living conditions, economic growth and so forth, it is very challenging for every European Union member state to keep the financial stability. To solve that problem, this paper aims to examine the financial stability of pension system in the European Union member states in the period 2003-2018. To obtain empirical results panel data analysis has been applied. The results showed that countries with higher old-age dependency ratio, life expectancy at age 65, replacement rate and poverty rate and public debt will also have higher pension expenditure, in average, while factors related to labour market negatively affects the pension spending.

Keywords: pension system; pension expenditure; financial stability; panel model; European Union (search for similar items in EconPapers)
JEL-codes: H55 J21 J26 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2019-10
New Economics Papers: this item is included in nep-age
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Proceedings of the Proceedings of the 52nd International Academic Conference, Barcelona, Oct 2019, pages 160-168

Downloads: (external link)
https://iises.net/proceedings/international-academ ... 99&iid=026&rid=12130 First version, 2019

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:9912130

Access Statistics for this paper

More papers in Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova (iises@iises.net).