Profitability on Albanian Supplementary Social Insurance Scheme: "Academic Titles" Case

Gentiana Sharku

International Business Research, 2017, vol. 10, issue 3, 215-220

Abstract: The social insurance system in Albania is composed of three basic schemes: (i) mandatory scheme functioning on the "pay as you go" basis, (ii) voluntary scheme, protecting individuals who for specific reasons are not involved in the mandatory plan, and (iii) supplementary scheme, covering a specific category of individuals, who perform certain state functions and/or have academic titles. Regardless the classification, the supplementary scheme is a mandatory one. During 2015, Albanian government has revised the contribution rates for the supplementary scheme, as the scheme is suffering a deficit. The aim of this paper is to calculate the average rate of return on the contributions invested in this scheme, referring to the category of individuals having the "Professor" title. The calculations will be based on some actuarial assumptions. The data used in this paper will be of secondary type, based on the official statistics published by respective institutions.

Keywords: social insurance; contribution; rate of return (search for similar items in EconPapers)
Date: 2017
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