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The importance of health status for the financial sustainability of the pension system. A case study of Romania in the context of the EU

Author

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  • Iuliana-Claudia MIHALACHE

    (PhD Student at Alexandru Ioan Cuza University of Iasi, Romania)

  • Felicia-Cătălina APETROI (RĂCOARE)

    (PhD Student at University of Seville, Spain)

  • Mihaela TOMAZIU-TODOSIA

    (PhD Student at Alexandru Ioan Cuza University of Iasi, Romania)

  • Olesea PLOTNIC

    (Associate professor at Academy of Economic Studies of Moldova, Chișinău, Republic of Moldova)

Abstract

Based on the need for a prosperous economy, it is important to increase the quality of life of the active population in particular, but also of the inactive, in order to reduce the consumption of free and/or reimbursed medicines. In this regard, social security and protection systems need to consider improving working conditions, expanding the network of medical services, creating medical, social and professional recovery systems, continuously improving the material and medical situation of people, in order to increase the time of productive activity. This study aims to analyse the evolution of pension categories in Romania for the period 1990-2018, as well as the correlation between health and financial sustainability of the pension system, with an emphasis on healthy life expectancy. In order to develop the case study, the authors consider the evolution of this system in the last decade in Romania, following the average number of people retiring early, as well as people receiving disability pensions.

Suggested Citation

  • Iuliana-Claudia MIHALACHE & Felicia-Cătălina APETROI (RĂCOARE) & Mihaela TOMAZIU-TODOSIA & Olesea PLOTNIC, 2021. "The importance of health status for the financial sustainability of the pension system. A case study of Romania in the context of the EU," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12(4), pages 282-297, February.
    • Handle: RePEc:jes:wpaper:y:2020:v:12:i:4:p:282-297
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    References listed on IDEAS

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    2. James Banks & Richard Blundell & Antoine Bozio & Carl Emmerson, 2012. "Disability, Health and Retirement in the United Kingdom," NBER Chapters, in: Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participatio, pages 41-77, National Bureau of Economic Research, Inc.
    3. Marten Hillebrand, 2008. "Pension Systems, Demographic Change, and the Stock Market," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-77972-8, December.
    4. Leslie E. Papke, 1999. "Are 401(k) Plans Replacing Other Employer-Provided Pensions? Evidence from Panel Data," Journal of Human Resources, University of Wisconsin Press, vol. 34(2), pages 346-368.
    5. Francesco Paolucci, 2011. "Health Care Financing and Insurance," Developments in Health Economics and Public Policy, Springer, number 978-3-642-10794-8, June.
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