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Financial Crisis And The Pension System

Author

Listed:
  • Assoc. Prof. Narcis Mitu Ph. D

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

  • Daniela Pîrvu Ph. D Student

    (University of Piteşti Faculty of Economics Piteşti, Romania)

Abstract

Currently, public pension systems PAY-AS-YOU-GO (PAYG) from more countries in the world based solely on solidarity between generations are facing increasingly difficult problems to solve. Causes due to evolution. And demographic trends of aging while reducing the birth rate, increasing the average lifetime, inflation, growing costs in the period following the early post active retirement. Last but not least, reducing the dependency ratio, meaning the decrease number of taxpayers while increasing number of retirees.

Suggested Citation

  • Assoc. Prof. Narcis Mitu Ph. D & Daniela Pîrvu Ph. D Student, 2010. "Financial Crisis And The Pension System," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(38), pages 1-6, May.
    • Handle: RePEc:aio:aucsse:v:2:y:2010:i:6:p:171-176
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    File URL: http://feaa.ucv.ro/AUCSSE/0038v2-019.pdf
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    More about this item

    Keywords

    financial crisis; pension crisis; pension systems; pension system reform; demographic evolution;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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