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Financial stability of pension system in the European Union member states

Author

Listed:
  • Sabina Hod?i?

    (Faculty of Tourism and Hospitality Management, University of Rijeka)

  • Lucija Rogi? Duman?i?

    (Faculty of Economics and Business, University of Zagreb)

  • Emira Be?i?

    (Croatian Bureau of Statistics)

Abstract

The pension systems in European Union member states are very diverse, due to traditions how to provide retirement income, and to phases of the reform process. This system is also very important in the context of the social security of every individual or the society in which is settled. Since the system is influenced by changes in demographic fluctuations, living conditions, economic growth and so forth, it is very challenging for every European Union member state to keep the financial stability. To solve that problem, this paper aims to examine the financial stability of pension system in the European Union member states in the period 2003-2018. To obtain empirical results panel data analysis has been applied. The results showed that countries with higher old-age dependency ratio, life expectancy at age 65, replacement rate and poverty rate and public debt will also have higher pension expenditure, in average, while factors related to labour market negatively affects the pension spending.

Suggested Citation

  • Sabina Hod?i? & Lucija Rogi? Duman?i? & Emira Be?i?, 2019. "Financial stability of pension system in the European Union member states," Proceedings of International Academic Conferences 9912130, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:9912130
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    pension system; pension expenditure; financial stability; panel model; European Union;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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