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Demographic Changes and Pension System in Croatia

Since the beginning of the transition period, the pension system in Croatia has been subject to review and numerous reforms have been implemented. Nevertheless, the sustainability of the pension system and insufficient pension revenues remain the fundamental problems of the Croatian pension system. Therefore, it seemed reasonable to examine the causes and possible solutions that could mitigate the devastating effects of unfavorable demographic trends, limited budgetary resources, and lack of recognition of the need for independent savings for the elderly. The paper proposes measures that can be taken to reduce the pressure on the state budget for the payment of pensions based on an active employment program, as well as measures aimed at increasing participation in voluntary pension savings to counteract the negative effects of population aging, promote demographic renewal, and achieve a possible increase in retirement income.

Demography changes ; Croatian pension system ; Age dependency ratio

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