Naslov
The Croatian Pension System and Challenges of Pension Policy

Autori
Bejaković, Predrag

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Policy-Making at the European Periphery : the case of Croatia

Urednik/ci
Petak, Zdravko ; Kotarski, Kristijan

Izdavač
Palgrave Macmillan

Grad
Cham

Godina
2018

Raspon stranica
229-245

ISBN
978-3-319-73581-8

Ključne riječi
pension system ; reforms ; public finance ; Croatia

Sažetak
After the collapse of the former country, Croatia inherited a ‘premature’ socialist Pay-As-You-Go pension system. It has undergone many reforms: one systemic reform (from 1998 to 2002 which resulted in the establishment of the three-pillar pension system), and several parametric reforms, the last one encompassing all three parts of the pension system (2013-2016). The existing pension system of unfunded pensions at the beginning of 2002 was replaced by a combined system of unfunded and funded pensions. Thenceforth, the pension system consists of the three pillars: a) the 1st pillar is a mandatory public pension system, based on inter-generational solidarity ; b) the 2nd pillar is a mandatory funded privately managed pension system, based on individual capitalized payment and savings ; and c) the 3th is voluntary pension insurance system based on individual capitalized savings for those who want to pay even more retirement insurance against the risks of old-age. The purpose of the paper is to provide analyses of the policymaking process and reform of Croatian pension system, with particular attention towards its sustainability and adequacy.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA