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- W185514261 abstract "Croatia, as well as many western-economy based countries, is expecting longtermnegative demographic trends when it comes to young and elderly ratio ornatural increase ratio. Social policy objective in the context of pension systemis supposed to be crucial factor in preserving social stability based on longtermsustainability, not on short-term solutions like abundant debt-fundedpensions directly from national budget. Recent macroeconomic changes inCroatia, like structural unemployment because of inconsistent demand andsupply on labor market as well as extinction of old and expansion of newbusiness markets puts Croatian pension system in challenging economicsurroundings. These surroundings identify a new way of approach ondetermining future macroeconomic projections and designing a better andmore sustainable fiscal system of which pension system holds substantial part.The study presents argumented thoughts on previous and recent analyses ofCroatian pension system, mainly from the period after pension reforms inCroatia that is between 2002 and 2012. Authors of this study identifyfundamental problems and present a new perspective considering thedirection of possible future changes in the pension system, having in mindrecent demographic and public finance trends in Croatian economy. Authorsalso present conceptual directions towards optimization of the pensionsystem, with emphasis on specifically applicable models of optimizationconsidering pension pillars and other social contributions that are obligatory incalculating brutto wages. In addition, this study presents interest groups likepensioners, insured workers, obligatory pension funds and government thatwould be affected by proposed models of optimization. Different approachesin creating motivational factors for pension system optimization had beenanalyzed and presented solutions have a built-in trade-off for every analyzedinterest group. Presented models are to be considered for potentialimplementation or new reform that would improve pension adequacy rateswithout affecting fiscal sustainability of public finance in Croatia.Keywords: Croatian Pension Insurance, Pension System Reforms, DemographicChanges, Sustainability, Optimization Level, PAYG." @default.
- W185514261 created "2016-06-24" @default.
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- W185514261 date "2013-05-10" @default.
- W185514261 modified "2023-09-24" @default.
- W185514261 title "Croatian Reformed Pension System Crisis and Models ofSustainable Optimization" @default.
- W185514261 hasPublicationYear "2013" @default.
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