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Does The Albanian Pension System Work?

Author

Listed:
  • Dorina Kripa

    () (Faculty of Economy, University of Tirana, Tirana, Albania)

  • Edlira Luci

    () (Faculty of Economy, University of Tirana, Tirana, Albania)

Abstract

This article analyses the reforms in the pension scheme in Albania during the transition period. An analysis of changes experienced by the performance of the social insurance scheme reveals that, so far, the system is almost entirely dominated by the public scheme “pay as you go”, which for the moment is facing serious challenges. The results of the prognoses show that that these problems will accompany the scheme in the future too. Under these circumstances, it can be inferred that, in addition to the application of parametric modifications to the public scheme in order to strengthen its financial stability, the initiation of a more radical reform in the pension system is becoming crucial. The same conclusion has been reached by many countries which have completed this reform. The pa-per concludes with some recommendations on how to carry out the reform of the public pension scheme and it proposes the introduction of a multicolumn pension system.

Suggested Citation

  • Dorina Kripa & Edlira Luci, 2010. "Does The Albanian Pension System Work?," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 193-206, november.
  • Handle: RePEc:aic:journl:y:2010:v:57:p:193-206
    as

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    File URL: http://anale.feaa.uaic.ro/anale/resurse/fin9kripa.pdf
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    References listed on IDEAS

    as
    1. Paul Krugman & Anthony J. Venables, 1995. "Globalization and the Inequality of Nations," The Quarterly Journal of Economics, Oxford University Press, vol. 110(4), pages 857-880.
    2. repec:hhs:iuiwop:430 is not listed on IDEAS
    3. Rafael Chaves & José Luis Monzón Campos, 2001. "Economía social y sector no lucrativo: Actualidad científica y perspectivas," CIRIEC-España, revista de economía pública, social y cooperativa, CIRIEC-España, issue 37, pages 7-33, April.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Pension funds; parametric reforms of pension funds; performance of social security system; dependency ratio;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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