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Trends Regarding the Evolution of the Romanian Pension System

Author

Listed:
  • Balteș Nicolae

    („Lucian Blaga” University of Sibiu)

  • Dumiter Florin

    („Vasile Goldiș” Western University of Arad)

  • David Delia

    („Vasile Goldiș” Western University of Arad)

  • Jimon Ștefania

    (Assistant Professor „Vasile Goldiș” Western University of Arad)

Abstract

The pension system, together with the social assistance services form the social security system is recognized worldwide throughout the adoption of the Universal Declaration of Human Rights for the purpose of insured person compensation for damages regarding some inherent risks as: permanent or temporary inability of work, old age or unemployment. The main objectives of a pension system are decreasing poverty regarding the lower income persons throughout the conditions of limitation of the working capacity which are financially vulnerable. In this article we provide a qualitative and quantitative overview regarding the Romanian pension system structure and mechanism. The conclusions of this article highlight the need for a more comprehensive reform of this system in order to strengthen it for the new challenges still to come in the near future.

Suggested Citation

  • Balteș Nicolae & Dumiter Florin & David Delia & Jimon Ștefania, 2018. "Trends Regarding the Evolution of the Romanian Pension System," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 28(1), pages 1-16, March.
    • Handle: RePEc:vrs:suvges:v:28:y:2018:i:1:p:1-16:n:1
    DOI: 10.2478/sues-2018-0001
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    References listed on IDEAS

    as
    1. Mitrut, Andreea & Wolff, François-Charles, 2011. "Do private and public transfers received affect life satisfaction? Evidence from Romania," Journal of Economic Psychology, Elsevier, vol. 32(6), pages 969-979.
    2. Robert Fenge & Beatrice Scheubel, 2017. "Pensions and fertility: back to the roots," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(1), pages 93-139, January.
    3. Anita M. Schwarz & Omar S. Arias & Asta Zviniene & Heinz P. Rudolph & Sebastian Eckardt & Johannes Koettl & Herwig Immervoll & Miglena Abels, 2014. "The Inverting Pyramid : Pension Systems Facing Demographic Challenges in Europe and Central Asia," World Bank Publications - Books, The World Bank Group, number 17049.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Pension system; pension pillars; Romania; fiscal sustainability; social protection;
    All these keywords.

    JEL classification:

    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-

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