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Algorithm-based Pension Calculation

Author

Listed:
  • Radu Titus MARINESCU

    (“Artifex” University of Bucharest)

  • Alexandru MANOLE

    (“Artifex” University of Bucharest)

  • Ana ANTON CARP

    (Academy of Economic Studies, Bucharest)

  • Georgeta BARDASU

    (Academy of Economic Studies, Bucharest)

Abstract

Starting 1.04.2001, in the Romanian Public Pensions System the pension calculation method has changed. The calculation formula was modified. If until then persons who applied for pension chose a favorable calculation base in the last ten years, of which only five consecutive years were taken into, since 2001 the whole career of the employee is accounted for establishing its pension. The average of one’s own realized income does not represent anything anymore.

Suggested Citation

  • Radu Titus MARINESCU & Alexandru MANOLE & Ana ANTON CARP & Georgeta BARDASU, 2012. "Algorithm-based Pension Calculation," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 60(4), pages 404-407, November.
  • Handle: RePEc:rsr:supplm:v:60:y:2012:i:4:p:404-407
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    More about this item

    Keywords

    pensions; social insurances; correlation; pension point;

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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