An Analysis on the Factors Affecting the Social Security

Galantina Canco Doraci, Diana Dervishi and Sajmir Hoxha
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Galantina Canco Doraci: Faculty of Economics and Agribusiness in Tirana, Albania
Diana Dervishi: Faculty of Economics and Agribusiness in Tirana, Albania
Sajmir Hoxha: General Secretary in Competition Authority in Albania

Review of Applied Socio-Economic Research, 2016, vol. 12, issue 2, 19-25

Abstract: The transition from strong centralized economy to the free market economy was one of major movements which include radical changes in the politics, economics, administration and structural field. So, it was necessary to conduct a series of increasing reforms. In this context, the pension (retirement) reform is a very important one. Many insurance schemes directed by the state, based on 'pay-as-you-go' principle, such as the current Albanian social insurance system. This scheme does not promote the interests of employees being included in the current social insurance scheme. The best practices prove the fact that mandatory social insurance should not be the only option. So, parallel with mandatory social insurance is better to have the private insurance pension scheme, as well. The paper focuses on some issues of social insurance.

Keywords: social insurance; 'pay-as-you-go'; pension reform; private insurance pension scheme (search for similar items in EconPapers)
JEL-codes: I31 J14 J32 (search for similar items in EconPapers)
Date: 2016
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