THE PERSPECTIVES OF PENSION SYSTEM MODERNIZATION IN THE REPUBLIC OF MOLDOVA

Abstract

The global aging process is changing the demographic structure of the world’s population and the socio-economic balance between generations. This process urgently raises the question of the forms of social support for the elderly population, thereby making new requirements on pension systems. The study of the international experience and practice of the Republic of Moldova, carried out in this article, has revealed that countries with pension systems that combine voluntary and mandatory, public and private schemes are most effective in solving this problem. At the same time, investigation demonstrates that pension system modernization requires strong analysis of its possible advantages and disadvantages, taking into consideration the whole set of peculiarities of the Republic of Moldova.

Keywords

• pension system modernization
• private pension funds
• efficiency of pension sistem
• replacement rate