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Profitability on Albanian Supplementary Social Insurance Scheme: "Academic Titles" Case

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  • Gentiana Sharku

Abstract

The social insurance system in Albania is composed of three basic schemes: (i) mandatory scheme functioning on the "pay as you go" basis, (ii) voluntary scheme, protecting individuals who for specific reasons are not involved in the mandatory plan, and (iii) supplementary scheme, covering a specific category of individuals, who perform certain state functions and/or have academic titles. Regardless the classification, the supplementary scheme is a mandatory one. During 2015, Albanian government has revised the contribution rates for the supplementary scheme, as the scheme is suffering a deficit. The aim of this paper is to calculate the average rate of return on the contributions invested in this scheme, referring to the category of individuals having the "Professor" title. The calculations will be based on some actuarial assumptions. The data used in this paper will be of secondary type, based on the official statistics published by respective institutions.

Suggested Citation

  • Gentiana Sharku, 2017. "Profitability on Albanian Supplementary Social Insurance Scheme: "Academic Titles" Case," International Business Research, Canadian Center of Science and Education, vol. 10(3), pages 215-220, March.
  • Handle: RePEc:ibn:ibrjnl:v:10:y:2017:i:3:p:215-220
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    References listed on IDEAS

    as
    1. Paul Mosley & Robert Holzmann & Steen Jorgensen, 1999. "Social protection as social risk management: conceptual underpinnings for the social protection sector strategy paper," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(7), pages 1005-1027.
    2. Holger Lüthen, 2016. "Rates of Return and Early Retirement Disincentives: Evidence from a German Pension Reform," German Economic Review, Verein für Socialpolitik, vol. 17(2), pages 206-233, May.
    3. Barrientos, Armando, 1998. "Pension reform, personal pensions and gender differences in pension coverage," World Development, Elsevier, vol. 26(1), pages 125-137, January.
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    More about this item

    Keywords

    social insurance; contribution; rate of return;

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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