Evaluating the adequacy of pensions systems: example of the Baltic states
MetadataShow full item record
Pension systems around the European Union (hereinafter EU) are facing concerning external and social factors, which are creating discomforts and complications to a considerate proportion of the population. The previous scenario is burdening the pension systems at such levels, that the adequacy and sustainability of these systems is under pressure. Considering the complexity and vast array of components in pension systems, this research focuses on the concept of adequacy. The aim of this thesis is to evaluate the adequacy of pension systems, by mostly focusing on the example of the Baltic states. The concept of pension system adequacy highlights the overall complexity, when analysing or evaluating pension systems, because of the lack of academical clarity and the difference in multidimensional measurement methods. In order to analyse pension system adequacy, the theoretical framework and methodology was based on F. Chybalski’s multidimensional approach to analysing the adequacy of pension systems (APS) (Chybalski, 2012). Taking into consideration that Chybalski’s results are relatively outdated, this research renewed the APS values with the most recent and available data. During the evaluation and measurement process of the preliminary data and empirical analysis, the need for further development surfaced. The contribution to this research topic, was to propose a new index, that evaluated the adequacy of both pensions and pension systems, by different dimensions. The new proposed index was titled, as the: adequacy of pensions and pension systems – APPS. The preliminary data and empirical analysis answered the hypothesis of the research, which proved that the Baltic pension systems are one of the most inadequate pension systems in the EU. Different measurement methods mostly provided similar and overlaping results, which both confirmed and questioned the new proposed indexes contribution. The new proposed index provides an alternative approach to analysing the adequacy of pension systems or pensions, but further research and development would be recommended.
The following license files are associated with this item: