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2018 | 66 | 1 | 64 – 80
Article title

APPLICATION OF THE LIFECYCLE THEORY IN SLOVAK PENSION SYSTEM

Content
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EN
Abstracts
EN
In the wake of population ageing and increasing public pension liabilities, many countries have reformed their pension systems, moving away (at least partially) from defined benefit (DB) pension schemes and towards defined contribution (DC) pension schemes. Slovakia’s reformed its pension system into two main pillars – I. pillar PAYG scheme and II. pillar DC scheme. Slovak pension reform brings up a lot of questions regarding the optimality of two main pillars pension system set up. In this paper, we seek to investigate the effects of different Slovak pension system set up alternatives and their implications on lifecycle savings and individual welfare using own stochastic life cycle model of partial equilibrium. Results could serve as a basis for further discussion on improving the legislature on parameters’ set-up of both pension pillars in Slovakia as well as abroad.
Contributors
author
  • Matej Bel University in Banská Bystrica, Faculty of Economics, Department of Public Economics and Regional Development, Tajovského 10, 975 90 Banská Bystrica, Slovak Republic, matej.balco@umb.sk
author
References
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YADDA identifier
bwmeta1.element.cejsh-45af51e2-e804-45cb-b8f6-7cc26ee0f3d8
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