fbpx

CHALLENGE FOR A NON-FINANCIAL DEFINED CONTRIBUTION SCHEME IN THE ALBANIAN RETIREMENT SYSTEM

by | Jan 14, 2020 | DOI 2018

Landi Gushi
Faculty of Economy, Marketing – Tourism Department, University “Fan S. Noli”, Korce, Albania
DOI: https://doi.org/10.31410/eraz.2018.97
​​

4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia;  Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7

Abstract

The retirement system in Albania has gone through a series of important reforms. Actually, the retirement system in Albania is dominated by the public mandatory scheme managed by the Institute of Social Security. This paper discusses the potential role of a Non-Financial Defined Contribution scheme and its implementation in the Albanian retirement system relying on international theory and experience. In the present social and economic situation in Albania, the reforms in retirement system are needed immediately, so that the retirement system fulfills its intended functions. It should be an important element in reducing the poverty and enhancing the future social-economic developments; therefore the only alternative is to improve it further by reforming it.

Key words

retirement, reform, Non-Financial Defined Contribution Schemes, Albania

References

  1. Holzmann, R. and Palmer, E. (2006) Pension Reform Issues and Prospects for Non-Financial Defined Contribution (NDC) Schemes, Washington, DC: World Bank..
  2. Pension Systems and Reform Conceptual Framework. Robert Holzmann, Richard Paul Hinz and Mark Dorfman https:// siteresources. worldbank. org/ SOCIALPROTECTION/ Resources/ SP- Discussion- papers/  Pensions-DP/0824.pdf
  3. Augusztinovics, M. (1999) Pension systems and reforms in the transition economies, Economic Survey of Europe, No. 3: 89-114.
  4. Scherman, KG. (2003) The Swedish pension reform: a good model for other countries? Scandinavian Insurance Quarterly, Issue Nr 4/2003: 304–318.
  5. OECD (2012) Pensions Outlook, OECD, 56.
  6. Barr, N. and Diamond, P. (2008) Reforming Pensions: Principles and Policy Choices, Oxford Scholarship Online.
  7. International Labour Organisation (ILO) (2006) Social Security Spending in South Eastern Europe: A comparative reviews, Budapest: ILO
  8. Williams, C. C. and Windebank, J. (1998). Informal Employment in Advanced Economies: Implications for Work and Welfare
  9. Williams, C. C., & Windebank, J. (1998). Informal employment in the advanced economies: Implications for work and welfare . London: Routledge.
  10. Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model Axel Boersch-Supan, Alexander Ludwig, Joachim Winter NBER Working Paper No. 11850
  11. Issued in December 2005.
  12. Barr, N. (2004) Pension reform: issues and prospects for NDC schemes, The Economics of the Welfare State, OUP, 4th ed. 57 – 69.
  13. Borsch-Supan, A. (2003) What are NDC pension systems? What do they bring to reform strategies? MEA discussion paper series 03042, Munich Center for the Economics of Aging (MEA). 
  14. Holzmann, R. and Palmer, E. (2006) The Status of the NDC Discussion: Introduction and Overview, Washington, DC.: World Bank.
  15. ISSH , https://www.issh.gov.al/al/wp-content/uploads/2014/02/Perb_12_17-web1.pdf


Gushi_CHALLENGE FOR A NON-FINANCIAL DEFINED CONTRIBUTION SCHEME IN THE ALBANIAN RETIREMENT SYSTEM_pp_97-105Download