IDEAS home Printed from https://ideas.repec.org/p/wbk/hdnspu/25983.html
   My bibliography  Save this paper

Pension reform in Croatia

Author

Listed:
  • Anusic, Zoran
  • OKeefe, Philip
  • Madzarevic-Sujster, Sanja

Abstract

Croatia's transition toward independence, and the market economy in the 1990s, exacerbated problems in the pay-as-you-go (PAYG) system, and ultimately led to its financial collapse. Although a comprehensive three-pillar reform was initiated in late 1995, implementation of the reform only began in 1998, with an overhaul of PAYG parameters, including shifting to a German-style points system. Introduction of the mandatory, and voluntary funded pillars was announced in 1998, and implemented in 2002. The new system includes a privately-managed individual account scheme, with a contribution rate of five percent, in addition to a downsized pay-as-you-go, defined benefit component. This paper describes the design of the new system, and highlights areas where further refinements are needed.

Suggested Citation

  • Anusic, Zoran & OKeefe, Philip & Madzarevic-Sujster, Sanja, 2003. "Pension reform in Croatia," Social Protection Discussion Papers and Notes 25983, The World Bank.
    • Handle: RePEc:wbk:hdnspu:25983
    as

    Download full text from publisher

    File URL: http://www-wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/2003/06/14/000094946_03053004130881/Rendered/PDF/multi0page.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jarosław Poteraj, 2009. "Pension Systems in Europe. Case of Croatia," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 3(3), September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:hdnspu:25983. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aaron F Buchsbaum (email available below). General contact details of provider: https://edirc.repec.org/data/wrldbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.