مقاله انگلیسی رایگان در مورد سیستم حقوق بازنشستگی در محیط اقتصادی – الزویر ۲۰۱۶

۱٫ Introduction

۲٫ Define Pension System

۳٫ The Features of Current Latvian Pension System

۴٫ The Economic Environment of Latvian Pension System

۵٫ Conclusion

References

European and other world countries are facing changes in their population age structure. This leads to conclude that intensifying ageing of population is a global phenomenon. Latvia has introduced a new three-level pension system aimed to reduce the effect of demographic risks and demonstrating the country’s intention to provide viable public and private combination in old-age provision. The demographic estimates of European Commission show that by 2060 in Latvian population number elderly people aged 65 and over will almost double. The potential impact of demographic change on the age structure and the size of population is dramatic and still the main problem that cast the doubt on the ability of state mandatory non-funded pension scheme to provide a full-fledged social security. Personal financial planning, personal investments in Private voluntary pension schemes are important. The objective of research is to investigate whether the existing Pension system in Latvia is working effectively under changing economic environment to reach the goal of providing appropriate pension level for the retired persons. It analyzes the role of Private voluntary pension schemes, the current demographical situation with a flow of emigration and impact of new tax incentives for employees. The research evaluates efficiency of Private voluntary pension schemes and Latvian pension managers in providing appropriate pension level to future retirees in actual financial markets situation. Necessary action scenarios to provide wholesome standard of living in the future are analysed.

Introduction

Today’s global economic development trends require a change of views on the sustainability of pension systems and the prospect of their future development directions. Rapid changes are taking part in the economy and these changes will have an impact on the demographical structure of the population. Due to technological progress life expectancy will increase and changes the relationship between the number of employees and the number of recipients of old age pension will occur. Better health care will cause even deeper demographic crisis. Productivity in the sector of «real economy» will raise and that will cause economic structural changes and changes in labour demand. The aim of the reform of Pension System was to restructure the existing pension system according the present social-economic system in Latvia. The previous pension system did not meet the needs of market economy and, consequently, it was not able to function in the new situation. A complete rework of the pension system was carried out in 1995 in cooperation with the World Bank. Three pension levels have been introduced in the country. The objective of research is to investigate whether the existing Pension system in Latvia is working effectively under changing economic environment to reach the goal of providing a full fledged social security for the retired persons. The authors analyse the role of Private voluntary pension schemes taking into consideration the current demographical situation with a flow of emigration as well as the impact of macroeconomic situation. Qualitative methods are used for theoretical comparison and analysis of pension systems. Interviews with experts and personal observations are used to reveal the problems in the current pension system of Latvia. Quantitative research methods: statistical data analysis, forecasting and other financial calculations are used.