Algorithm-based Pension Calculation

Radu Titus Marinescu, Alexandru Manole, Ana Carp and Georgeta Bardasu
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Radu Titus Marinescu: “Artifex” University of Bucharest
Alexandru Manole: “Artifex” University of Bucharest
Georgeta Bardasu: Academy of Economic Studies, Bucharest

Romanian Statistical Review Supplement, 2012, vol. 60, issue 4, 404-407

Abstract: Starting 1.04.2001, in the Romanian Public Pensions System the pension calculation method has changed. The calculation formula was modified. If until then persons who applied for pension chose a favorable calculation base in the last ten years, of which only five consecutive years were taken into, since 2001 the whole career of the employee is accounted for establishing its pension. The average of one’s own realized income does not represent anything anymore.

Keywords: pensions; social insurances; correlation; pension point (search for similar items in EconPapers)
JEL-codes: J26 (search for similar items in EconPapers)
Date: 2012
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