DEVELOPMENTS IN THE MARKET OF MANDATORY PRIVATE PENSION FUNDS IN ROMANIA

Gheorghe Matei and Constantin Durac
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Gheorghe Matei: University of Craiova Faculty of Economics and Business Administration
Constantin Durac: University of Craiova Faculty of Economics and Business Administration

Annals of University of Craiova - Economic Sciences Series, 2016, vol. 1, issue 44, 186-197

Abstract: Starting from 2008, Romania has a pension system that is based on three pillars: redistributive type pension scheme (Pay As You Go) - Pillar I, mandatory private pension funds - Pillar II and facultative pensions - Pillar III. This system is inspired by a model tested in dozens of countries and recommended by the World Bank. Since we are dealing with a system that hasn’t reached the maturity, found in the accumulation phase and for which the outputs are not significant, it is interesting to analyze the indicators and observed the trends. Even if each pillar plays an important role, I'll give importance only to the mandatory private pension funds in this paper

Keywords: pension; funds; mandatory; private; financial; investors (search for similar items in EconPapers)
JEL-codes: G22 G23 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2016:i:44:p:186-197

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