Considerations Regarding the Pension Systems in Countries of Central and Eastern Europe

Abstract

The purpose of the pension systems consists in compensation of the damages arisen following the occurrence of some risks which restrict the working capacity and generate financial instability. The political reorganization of Central and Eastern European Countries, as also the accession to European Union required also the reorganization of the pension systems in these states. Regarding this aim, the main regulations implemented had targeted the consolidation and the reduction of the pressure in the public pension systems to maintain the financial sustainability of these. This paper is proposing a comparative highlight of the main characteristics of the national pension systems in states from Central and Eastern Europe. The main conclusion resulted from this study is that the efficiency and the effectiveness of a national pension system are generated by the level of adequacy of it at the conditions existing into the respective country.

Keywords

• PAYG pension systems
• sustainability
• adequacy
• demographic transition