Skip to main content
main-content

Über dieses Buch

The sustainability of public pension systems has become an important aspect for governments and institutions worldwide. This book addresses the multiple elements that influence the sustainability of pension systems with a special focus on central and eastern European countries.
Supported by the results of econometric empirical studies, the authors discuss and analyse areas like social economy versus capitalist economy, globalization versus glocalization, population aging versus birth and fertility, emigration versus immigration, early retirement versus prolongation versus professional activity, the sustainability of public pension systems versus the adequacy of benefits provided, public pension systems compared to private pension funds and taxation of salary incomes versus subsidization of state social insurance.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction

Abstract
The development and economic growth of a country can be achieved only through the population, which through the knowledge, skills, and competencies possessed represents the innovative and creative value-added capital of the society, lato sensu and economy, stricto sensu. However, in recent years, the European Union (EU) has been facing significant changes in the demographics and population structure of the Member States.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 2. Overview of Pension Systems

Abstract
Understanding the configuration of social protection and pension systems can be achieved only from a sociohistorical perspective upon the framework in which these emerged and developed.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 3. Socioeconomic and Medical Approaches upon Pensions Systems

Abstract
The social protection of citizens was an essential issue for all countries, regardless of the form of government, sociocultural characteristics, and economic system. In this chapter, we aim to identify the factors, which determined the configuration of the current pension systems implemented in the five CEE countries.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 4. Modeling the Impact of Socioeconomic and Medical Characteristics on Public Pension Systems in Central and Eastern European Countries

Abstract
Due to the direct link between the structure of the labor market and public pension systems, some important aspects are highlighted in this chapter regarding the correlation between the level of budget expenditures with social insurance and national economic development, demographic and medical characteristics of the population. Based on other works on the field of social protection and pension systems, an empirical study was conducted following three dimensions of social protection systems, namely, economic, social, and medical features.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 5. Private Pension Funds

Abstract
The sociodemographic situation in CEE, characterized by the reduction of birth rate and increased share of elderly, draws attention to national social protection systems and in particular to public pension systems. The direct link between the labor market and public pension systems, based on the principle of social solidarity between generations, runs the risk of diminishing budgetary resources obtained from social contributions, while spending on benefits will increase, due to a higher number of beneficiaries, as well as due to the increase in life expectancy, which will determine that the period for which the benefits will be provided will be longer.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 6. Personal Savings and Investments in the Financial Market

Abstract
After 1998, CEE countries underwent an extensive reform process toward compliance with the new political, economic, and sociodemographic conditions. Reduced birth rate, increased life expectancy, and migration are challenges for PAYG public pension systems, which are directly dependent on the labor market and funding based on social security contributions paid by all earners and other wage earners. This chapter aims to give a socioeconomic perspective regarding personal saving, through various instruments offered by the banking and capital market, to supplement the financial resources of the elderly during retirement.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 7. The Importance and Role of Social Policy in Maintaining Macroeconomic Stability

Abstract
Pension systems have the role of reducing the financial risk associated with the loss of the ability to carry out professional activities for income, a risk that determines poverty and is associated with severe material deprivation. The objective of this chapter is to emphasize the role of social policy in society and in macroeconomic policies in order to maintain socioeconomic stability and promote sustainable economic growth.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 8. Modeling the Macroeconomic Effects of Pension Systems

Abstract
This chapter aims to achieve a socioeconomic perspective on the financial resources of the elderly population, considering the recommendation of international bodies as OECD, WB, EC to diversify financial resources, on one hand by joining private pension funds and, on the other hand by increasing the degree of personal saving. The objective of this chapter pursued the econometric study of the macroeconomic effects of pension systems, in terms of the close correlation between several specific indicators oriented toward macroeconomic stability, the development of the financial sector, and the structure of national pension systems in CEE countries.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 9. Financial Sustainability of Public Pension System

Abstract
The object of this chapter is the presentation of the budgetary system of public pension schemes in CEE countries, in terms of salary incomes taxation, in order to obtain the resources needed to finance social benefits, but also from the perspective of the level of benefits and the situation of budgetary balance.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 10. Econometric Study on the Financial Sustainability of Public Pension Systems

Abstract
This chapter aims the econometric study regarding the financial sustainability of public pension systems in CEE countries, by establishing correlations between the level of state social insurance budget revenues and expenditures, and the socioeconomic indicators specific to pension systems.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Chapter 11. Conclusions and Final Remarks

Abstract
The elaboration of this book is based on the theoretical and empirical study of the effects that the new demographic conditions and globalization show on the social protection systems and especially on the sustainability of the PAYG public pension systems implemented in CEE countries.
Stefania Amalia Jimon, Florin Cornel Dumiter, Nicolae Baltes

Backmatter

Weitere Informationen

Premium Partner

    Bildnachweise