Home Volumul 1 CHALLENGES REGARDING FUTURE SUSTAINABILITY OF PENSIONS

CHALLENGES REGARDING FUTURE SUSTAINABILITY OF PENSIONS


Marius Cristian Miloş
Assistant Professor Phd, Faculty of Economic and Administrative Sciences, „Eftimie
Murgu” University Resita, Resita, Romania, This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Abstract
The quality of public finance (QPF) is a multidimensional concept. It may be regarded as
representing all the arrangements and operations regarding the financial politics that sustain
the macroeconomic objectives, particularly the long-term economic growth. Financial
policies at European level highlight the fact that a concentration of the public expenses in
areas that stimulate the economic growth and a more efficient use of the public resources
are key methods for sustaining the economic growth. The empirical proofs seem to support
the assumption according to which certain types of public expenses can supply incentives
and other can negatively influence the economic growth. The role of governments should
also be related to social security sustainability and also to public pensions sustainability.
There is a growing literature which supports the pension reform as a solution for the latest
demographic trends. Some recent analyses though, outlined the negative influence of the
financial crisis on the promised returns of private pension funds. The authors make a
personal analysis, taking into consideration both point of views.
Keywords: ageing, public spending, performance, pensions

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