Sustainability of private administrated pension funds in Romania

Roxana Liliana Ionescu, Ileana-Sorina Rakos and Teodora Cucerzan
Additional contact information
Roxana Liliana Ionescu: “Artifex” University of Bucharest, Bucharest, Romania
Ileana-Sorina Rakos: University of Petrosani, Petrosani, Romania
Teodora Cucerzan: “1 Decembrie 1918” University of Alba Iulia, Alba Iulia, Romania

Journal of Financial Studies, 2022, vol. 13, issue 7, 87-103

Abstract: At the level of the European Union, pensions from redistributive public systems are the main source of income for the elderly. A quarter of the European Union’s population is made up of retirees, and their numbers have been steadily rising in recent years. In the last decade, in Romania, the issue of sustainability of the public pension system has become more and more acute and solutions have been sought for the transfer of responsibility for the payment of pensions from the state to the individual through privately administered pensions. In the field of social policy, the constant concern has been to ensure a decent income for the elderly. The paper aims to identify the financial sustainability of private pension systems, the investment strategies used by these funds, the structure of investment portfolios, the profitability achieved by fund managers. The research method used will be statistical-mathematical. The research data are processed based on the reports and data of the Financial Supervisory Authority (ASF), the Private Pension System Supervisory Commission (CSSPP), the Romanian Association of Private Administrative Pensions (APAPR), the National Institute of Statistics (INS) and those from EUROSTAT. The results of this research consist in highlighting the problems of the current private pension management system and the economic developments of the Romanian economy in the coming decades.

Keywords: privately managed pensions; investment portfolio; profitability; participant. (search for similar items in EconPapers)
JEL-codes: G52 H55 (search for similar items in EconPapers)
Date: 2022
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://revista.isfin.ro/wp-content/uploads/2022/11/7.-Ionescu-Roxana.pdf (application/pdf)
https://revista.isfin.ro/2022/11/07/sustainability ... on-funds-in-romania/ (text/html)

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:fst:rfsisf:v:13:y:2022:i:7:p:87-103

DOI: 10.55654/JFS.2022.7.13.07

Access Statistics for this article

Journal of Financial Studies is currently edited by Raluca Ladaru

More articles in Journal of Financial Studies from Institute of Financial Studies Contact information at EDIRC.
Bibliographic data for series maintained by Cosmin Catalin Olteanu ().