Sustainability of pension systems in the Baltic states

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dc.contributor.authorRajevska, Olga
dc.date.accessioned2021-11-03T10:15:01Z
dc.date.available2021-11-03T10:15:01Z
dc.date.issued2015
dc.descriptionPublisher Copyright: © 2018, Cracow University of Economics. All rights reserved.
dc.description.abstractObjective: The objective of the paper is to identify how the concept of sustainability is understood and ensured in the pension systems of Estonia, Latvia and Lithuania; and what implications it brings to the performance of pension schemes. Research Design & Methods: Analysis of various conceptual and methodological approaches to the notion of sustainability of pension systems. Comparative analysis of present pension legislation, as well as preceding stage of pension reforms, accompanied by a number of numerical models. Findings: The understanding of sustainability is limited by narrow ‘fiscal’ meaning in Latvia, compared to more a multifaceted concept that includes the principle of social fairness and which can be traced in the logic of Estonian and Lithuanian legislators. Implications & Recommendations: In the long-term, pure financial appreciation of sustainability is misleading, low level of credibility may cripple a financially sound but socially unfair system; the perceived unfairness of redistribution can undermine the public support to, and, therefore, sustainability of pension systems. Contribution & Value Added: The originality of this work lies in studying how differences at policy formulation stage and in the very design of pension schemes influence pension system sustainability in countries with a very similar initial conditions and socio-economic environment.en
dc.description.statusPeer reviewed
dc.format.extent15
dc.format.extent431450
dc.identifier.citationRajevska, O 2015, 'Sustainability of pension systems in the Baltic states', Entrepreneurial Business and Economics Review, vol. 3, no. 4, pp. 139-153. https://doi.org/10.15678/EBER.2015.030409
dc.identifier.doi10.15678/EBER.2015.030409
dc.identifier.issn2353-883X
dc.identifier.urihttps://dspace.rsu.lv/jspui/handle/123456789/6786
dc.identifier.urlhttp://www.scopus.com/inward/record.url?scp=85014471903&partnerID=8YFLogxK
dc.language.isoeng
dc.relation.ispartofEntrepreneurial Business and Economics Review
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectBaltic states
dc.subjectEquity
dc.subjectPension systems
dc.subjectPolicy formulation
dc.subjectSustainability
dc.subject5.4 Sociology
dc.subject5.2 Economy and Business
dc.subject1.1. Scientific article indexed in Web of Science and/or Scopus database
dc.subjectBusiness and International Management
dc.subjectEconomics, Econometrics and Finance (miscellaneous)
dc.subjectStrategy and Management
dc.titleSustainability of pension systems in the Baltic statesen
dc.type/dk/atira/pure/researchoutput/researchoutputtypes/contributiontojournal/article

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