NECESSITY TO SUPPLEMENT THE PUBLIC PENSION SYSTEM FROM ROMANIA WITH PRIVATE PENSION SYSTEM

Maria Mirabela Florea Ianc
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Maria Mirabela Florea Ianc: University "Constantin Brancusi" from Tg-Jiu, Faculty of Economics and Business Administration

Annals - Economy Series, 2014, vol. 1, 277-281

Abstract: Aging population and the difficulties involved in the social protection systems appears to be a feature of all developed countries. Socio-demographic and economic processes (aging, active population reduction, macroeconomic problems, mainly in countries in transition), which will increase in the coming decades transform the problem of social protcţiei older people and in particular the problem of effective management of pension a fundamental challenge for both developed countries and those in transition. To note is that at the moment, the pension system is not completely self-sustaining, the state budget transferring about 2.5 percent of PIB It was analyzed by the experts in that area if the percentage would rise about three percent, serious problems might occur equilibrium (the effects will be felt in the economy, increased taxation, reduced investment, and so on), and if four percent to reach equilibrium would be lost. Now transfers provides an optimal degree of adequacy of pensions, and Romania would not have problems with transfers, if not intervened global economic crisis of 2008, this affecting the economy and hence government revenue".

Keywords: public pension; private pension; Romania; problems. (search for similar items in EconPapers)
Date: 2014
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