The Demographic Trends on Pension Systems in Romania

  • Tudor COLOMEISCHI Stefan cel Mare University, Suceava, Romania
  • Eugenia IANCU Stefan cel Mare University, Suceava
Keywords: Pension system; demographic trend; pension strategies; risk of longevity.

Abstract

Within national pension systems, the role of private pensions tends to become increasingly important. In support of this idea, we recall the conclusion that has been made by research that has taken place over time that the value of private pension fund assets has risen on average by 11.5% annually. The impressive value of assets becomes extremely tempting for investors who see extremely good long-term investment opportunities if we consider the amounts traded.

The Romanian pension system has entered a continuous process of change, not always with positive consequences on the level of pensions. The truly significant reforms have only emerged since 2000, being favored by the country's accession to the European Union. Unlike other states, in Romanian the 2008 crisis affected the pension system especially in its public component.

Private funds have resisted fairly well the problems that have arisen, partly because of the extremely prudent investment policy. The paper attempts to capture the pressures on pension systems, also making a series of forecasts on future developments in different hypotheses of the economic and social context.

References

[1] Colomeischi T. Sistemul pensiilor din România din perspectivă matematică actuarială. Editura Didactică şi Pedagogică ISBN 978-973-30-3657-9; 2014.
[2] Colomeischi T., Iancu E. The Demographic Pressures on Public Pension Systems, ISBN: 978-0-9860419-6-9; 2016: 194-199.
[3] Frunzaru, V. Sistemul de pensii românesc: o evaluare din perspectiva europeană, Bucuresti: Editura Economică; 2007.
[4] Popa, M. Estimări ale nivelului pensiilor publice şi private în România. Bucureşti: Ed. Teşu; 2011.
[5] www.oedc.org
Published
2018-12-10
How to Cite
COLOMEISCHI, T., & IANCU, E. (2018). The Demographic Trends on Pension Systems in Romania. LUMEN Proceedings, 6(1), 1-6. https://doi.org/10.18662/lumproc.56