Author
Listed:
- Roxana Liliana Ionescu
(“Artifex” University of Bucharest, Bucharest, Romania)
- Ileana-Sorina Rakos
(University of Petrosani, Petrosani, Romania)
- Teodora Cucerzan
(“1 Decembrie 1918” University of Alba Iulia, Alba Iulia, Romania)
Abstract
At the level of the European Union, pensions from redistributive public systems are the main source of income for the elderly. A quarter of the European Union’s population is made up of retirees, and their numbers have been steadily rising in recent years. In the last decade, in Romania, the issue of sustainability of the public pension system has become more and more acute and solutions have been sought for the transfer of responsibility for the payment of pensions from the state to the individual through privately administered pensions. In the field of social policy, the constant concern has been to ensure a decent income for the elderly. The paper aims to identify the financial sustainability of private pension systems, the investment strategies used by these funds, the structure of investment portfolios, the profitability achieved by fund managers. The research method used will be statistical-mathematical. The research data are processed based on the reports and data of the Financial Supervisory Authority (ASF), the Private Pension System Supervisory Commission (CSSPP), the Romanian Association of Private Administrative Pensions (APAPR), the National Institute of Statistics (INS) and those from EUROSTAT. The results of this research consist in highlighting the problems of the current private pension management system and the economic developments of the Romanian economy in the coming decades.
Suggested Citation
Roxana Liliana Ionescu & Ileana-Sorina Rakos & Teodora Cucerzan, 2022.
"Sustainability of private administrated pension funds in Romania,"
Journal of Financial Studies, Institute of Financial Studies, vol. 13(7), pages 87-103, November.
Handle:
RePEc:fst:rfsisf:v:13:y:2022:i:7:p:87-103
DOI: 10.55654/JFS.2022.7.13.07
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Keywords
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JEL classification:
- G52 - Financial Economics - - Household Finance - - - Insurance
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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