Lithuanian pension system’s reforms transformations and forecasts
Fiori Maccioni, Alessandro
2014-01-01
Abstract
The aim of this article is to describe the Lithuanian pension system, its reform process and its long-term financial sustainability. We define therefore the current reforms in the public pension system, influenced by the last economic crisis and social challenges. Also, we forecast the financial dynamics of the public pension system, in the light of raising social expenses (due to second pillar pension reforms) and of demographic trends (like ageing society and low fertility). Results reveal the long-term sustainability of the system, albeit at a cost of initial negative balances to be covered with public budget. Policy solutions could improve sustainability by encouraging and extending employment (especially for the disadvantaged) and by building trust in both public and private pension systems.File | Size | Format | |
---|---|---|---|
Fiori-Maccioni Bitinas UJIBM.pdf open access
Type: versione editoriale
Size 520.67 kB
Format Adobe PDF
|
520.67 kB | Adobe PDF | View/Open |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.