Equity in the Focus of the Public Pension System

Hristina Blagoycheva ()
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Hristina Blagoycheva: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2022, vol. 11, issue 3, 33-43

Abstract: The pension system is one of the most important elements of social protection in any country. It must be structured to pursue fairness - overcoming poverty among the elderly and striving to preserve to a large extent the consumer power of individuals before and after retirement. Therefore, the purpose of this article is to highlight the challenges to achieving fairness in the public pension system and to look for options for its reorganization in a way that most fully corresponds to the set goals in a long-term aspect. The positive and negative features of variants of reforms carried out are examined and the advantages of applying an endogenous pension system based on the Notional defined contribution scheme are put forward.

Keywords: Pay-As-You-Go System; Defined Benefit; Defined Contributions; Intragenerational Equity; Intergenerational Equity; Notional defined contribution scheme (search for similar items in EconPapers)
JEL-codes: H75 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:v:11:y:2022:i:3:p:33-43

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