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- Title
CONSIDERATIONS REGARDING THE RELATIONSHIP BETWEEN SOCIAL SECURITY AND LABOUR MARKET.
- Authors
PÂNZARU, Ciprian Puiu
- Abstract
The was study based on analysis of statistical data collected from the databases of the National Institute of Statistics, Ministry of Labor, and National House of Pensions. The indicators observed were: occupied population, employed population, employees, unemployment, contributions to the social insurance budget, expenditure on pensions. The study looked at longitudinal data analysis for the period 1990 to 2010. To highlight the relations existing between indicators that characterize the labor market and the indicators that characterize the evolution of the social insurance budget, was used the calculation of regression. The results show the great impact on the pension system by the increase in the segment of population not contributing in the whole of the active population. In 1990, there were 8.1 million employees and in 2010 their number was only of 4.19 million for an active population of 10 million. The number of registered pensioners increased continuously during the period 1990 to 2010. In 1990 there were 2.57 million pensioners, while in 2010 there were already 4.776. Amid these developments, the social security budget deficit in 2010 was of 263,013.20 thousands of lei (approx. 65 million Euros). The degree of contribution is far below the level of expenditure required for pensions. These deficits are covered by a transfer from the state budget. The problem is caused by the decrease of both employees and especially by the current structure of the Romanian pension system. Since at present the sustainability of the pension system is closely related to the number of employees, public spending on pensions must be kept under control either by designing pension schemes less sensitive to labor market or by a transition to a private pension system.
- Subjects
ROMANIA; SOCIAL security; LABOR market; NUMERIC databases; POPULATION statistics; EMPLOYMENT statistics; PENSION financing
- Publication
Annals of Eftimie Murgu University Resita, Fascicle II, Economic Studies, 2012, p101
- ISSN
1584-0972
- Publication type
Article