The public pension system in Romania – analysis before and after 1999

Lucia Croitoru (lucia.croitoru@yahoo.com), Laurentiu Baranga (laurentiu.baranga@yahoo.com), A.Predescu (gen3pavo@yahoo.com) and Alexandra Pricopi (pricopi.alexandra@yahoo.com)
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Lucia Croitoru: Romanian-American University Bucharest, Faculty of Domestic and International Commercial and Financial Banking Relations
Laurentiu Baranga: Titu Maiorescu University Bucharest
A.Predescu: Spiru Haret University Bucharest, Faculty of Accounting and Finance
Alexandra Pricopi: Romanian-American University Bucharest, Faculty of Domestic and International Commercial and Financial Banking Relations

EuroEconomica, 2011, issue 30, 55-59

Abstract: Objectives This paper aims to examine the public pension system in Romania and the significant differences that 1999 brought it. It is important to see if system effects such as the number of beneficiaries and collapse on the number of taxpayers are experienced in present. It explores the main types of pension granted in the public pension system - pensions for old age. Approach It is an attempt to identify the main sources (contributions owed by employers and employees) and also the way pensions are calculated and given before and after 1999. Results We conclude that public pension system in Romania has suffered many changes in a positive way. Implications For taxpayers, both employers and employees it is important that the public pension system work in optimal conditions, that the minimum and maximum contribution "stage" take the proper values. Value Knowing the importance of the public pension system in the Romanian society will know what measures should be taken to improve it..

Keywords: public pension system; social security contributions; contribution stage (search for similar items in EconPapers)
Date: 2011
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