Darbe pateikiama samprata apie našlių pensijų sistemą, jos struktūrą, teoriškai pagrindžiami ir pateikiami Lietuvos socialinės saugos teisei būdingų našlių pensijų modeliai.Sistemos reformos kryptys analizuojamos, remiantis našlių subjektinių teisių įgyvendinimo analize. Paliečiami socialinio teisingumo aspektai, skiriant valstybines našlių pensijas bei nustatant valstybinių socialinio draudimo našlių pensijų dydį. Pateikiama našlių namų ūkių disponuojamų pajamų analizė. Socialinės politikos plotmėje nagrinėjami našlių socialinio saugumo užtikrinimo garantai. Reziumuojama, kad didelė našlių dalis iš valstybės negauna socialinės paramos. Lietuvos socialinės apsaugos teisėje n��ra našlių paramos modelio. Darbo pabaigoje pateikiamos išvados ir pasiūlymai iškeltoms teisinio reguliavimo problemoms spręsti. / The paper provides the conception of systems of state social insurance, state and social support benefits applied in the Lithuanian social security system. Based on the analysis of legal acts, the structure of the widows‘ pension system is being defined. The paper gives theoretical substantiation of and provides widows‘ pension models typical for the Lithuanian social security system. Aiming to reveal complexity and problems of the widows‘ pension system, legal regulation of widows‘ pensions and rent are being analysed in detail. There is also a review of conditions and requirements for the deceased and their spouses set out in the legal acts. Assumptions of the reform of widows‘ pension system are based on three problematic aspects: is the support provided realised following the principles of state social insurance and provision of the state and social suppport benefits; are the subjective rights of widows to support in case of widowhood approached to equivalently; is social justice retained in contribution of budget means. Trends of the reform of widows‘ pension system are analysed based on the analysis of implementation of subjective rights of widows. The paper touches aspects of social justice in assignation of widows‘ pensions and in determination of the amount of state social insurance widows‘ pensions. Widows‘ social security assurance is being analysed in the plane of social policy. It may be concluded that a great number of widows receive no benefits from the state... [to full text]

Šiame darbe atliekamas reformuotos lietuvos pensijų sistemos modeliavimas ir tyrimas. Tiek modeliavimui tiek tyrimui naudojamas C++ Builder programavimo kalba autoriaus sukurtas įrankis, leidžiantis pasirinkti pageidaujamą scenarijų. Prognozavimas 40 metų į priekį realizuotas neuroniniais tinklais. Remiantis sukurtojo įrankio modeliavimo rezultatais, palyginamos pirmoji ir antroji pensijų sistemos pakopos bei padaromos išvados. / In this work we will analyze is voluntary saving pension insurance effective or not. Also we will analyze the situation of this insurance nearly 40 years. The data which is need to perform this analyze we will forecast from having statistical data and using neural networks. We will also create a multifunction program in C++ Builder programming language, to perform all mentioned task. According to the program count results we will compare the first and the second pillar of the Lithuanian pension system, and do findings.

Viešojo sektoriaus ekonomikos magistro baigiamojo darbo tema aktuali tuo, jog Lietuvos visuomenė senėja, išlieka dideli emigracijos mastai, o gimstamumo lygis žemas. Todėl valstybei vis sunkiau spręsti pagyvenusių žmonių gerovės klausimą. Be to, cikliniai ekonomikos svyravaimai sukelia nedarbo lygio ir valstybės skolos augimą bei darbo užmokesčio mažėjimą. Nestabilios tampa ir finansų rinkos, todėl pablogėjusi fiskalinė padėtis, savaime suprantama, trikdo pensijų sistemos finansavimą, o investicijų grąžos ir turto vertės sumažėjimas trumpuoju laikotarpiu veikia (has implication – impact) pensijų kaupimo sistemų finansinę grąžą bei mokumą. Iki šiol nei vienai šaliai nepavyko sukurti pensijų sistemos, kuri neturėtų rimtų trūkumų, todėl tęsti studijas ir ieškoti geriausių sprendimų reformuojant pensijų sistemas yra prasminga. Šio darbo tikslas buvo įvertinti Lietuvos pensijų sistemos rezultatyvumą ir jos tvarumą ilgalaikėje perspektyvoje bei nustatyti sistemos tobulinimo kryptis. Siekiant įgyvendinti tikslą buvo identifikuotos esminės socialinės politikos modelių charakteristikos ir jų pritaikymas Lietuvai, aplinkos veiksniai, keliantys pensijų sistemos reformų poreikį,esamos pensijų sistemos spragos ir problemų sprendimo variantai. Išanalizavus problemą teoriniu lygmeniu, analitinėje dalyje empiriškai buvo patikrintos teorinės prielaidų teisingumas bei pateikdos rekomendacijos Lietuvos pensijų sistemai tobulinti. Išanalizavus teorinius pensijų sistemos rezultatyvumo aspektus... [toliau žr. visą tekstą] / The theme of Master‘s Work in Public Sector Economics deals with topical issues concerning ageing, emigration, low birthrate problems in Lithuania. Because of these factors the assurance of citizens social welfare is a complicating task for a State. Moreover, cyclical economics fluctuations cause the rise in public debt and unemployment level, also the fall in wages. Consequently financial markets become unstable and the worsen fiscal situation disturbs the sponsorship of pensions system. Moreover, the fall in investments change and value of assets in short run has impact on financial change of pensions funds and its paying capacity. Until now all of the states failed to create pensions system without serious drawbacks, so the extension of studies in search of best solutions for pensions system is still meaningful and even essential. The goal of this paper work was to evaluate the effectiveness of Lithuania‘s pensions system, its stability in the long run, and to sattle the improvement directions. In order to implement the goal the main characteristics of social policy models and its adaptability to Lithuania‘s pension system have been identified, the external factors causing the need of pensions systems reforms have been characterized, the drawbacks of present pensions system have been pionted out and the recommendations to eliminate it have been proposed. After making analysis of theoretical aspects of pensions systems effectiveness and later testing it empirically, the... [to full text]

<p>Essentially this project report is a discussion of mathematical modelling in pension funds, presenting sections from Cairns, A.J.D., Blake, D., Dowd, K., Stochastic lifestyling: Optimal dynamic asset allocation for defined contribution pension plans, Journal of Economic Dynamics and Control, Volume 30, Issue 2006, Pages 843-877, with added details and background material in order to demonstrate the mathematical methods. In the investigation of the management of the investment portfolio, we only use one risky asset together with a bond and cash as other assets in a&nbsp / continuous time framework. The particular model is very much designed according to the members&rsquo / preference and then the funds are invested by the fund manager in the financial market. At the end, we are going to show various simulations of these models. Our methods include stochastic control for utility maximisation among others. The optimisation problem entails the optimal&nbsp / investment portfolio to maximise a certain power utility function. We use MATLAB and MAPLE programming languages to generate results in the form of graphs and tables</p>

Does an increase of elderly employment cause a decline in youth employment? A simplified view of a demand driven economy would give a positive answer to this question. Econometric studies based on a single equation approach deliver little support for this belief. However, these studies typically suffer from identification problems to which no attention is paid in most cases. We therefore use a general equilibrium framework when trying to quantify these effects. Using yearly and quarterly Austrian labor and gdp data, we estimate two model variants by Bayesian methods: a) a standard equilibrium model where the degree of complementarity between old, young and primary labor is crucial for the sign and strength of the relevant effects and b) a simple, solely demand driven model which always leads to a crowding out of young through an increase in employment of the old. It turned out that the demand driven model is inferior in fitting the data compared to the standard model. Further, the degree of complementarity is estimated to be strong enough to lead to a small positive effect of elderly employment on youth employment. (authors' abstract) / Series: Department of Economics Working Paper Series

Pensionen är en viktig del av en individs framtida liv som mycket väl kan innebära skillnaden mellan ett lyckligt eller miserabelt liv som pensionerad. I vardagen kan vi höra om pensionen och var vi bör vända oss, vare sig det gäller media, affischer eller annan reklam, men vet vi tillräckligt för att kunna pensionsplanera? Denna kvantitativa studie använder sig av data från en norsk enkätundersökning på internet, för att ta reda på vilka faktorer som kan påverka individers pensionsplanering i form av privat sparande. Studien lyckas bekräfta en positiv relation mellan privat sparande och fyra variabler; årsinkomst, åldersgrupp, tankar kring pension samt sysselsättning. / The pension is an important part of an individual’s future life which could very well be the difference between a happy or a miserable life as a retired individual. In everyday life we hear about retirement and where we should turn, whether it is media, posters or other advertising, but do we know enough to be able to forge a retirement plan? This quantitative study uses data from a Norwegian internet based survey, to find out what factors can influence individuals’ retirement planning in the form of private savings. The study succeeds confirm a positive relationship between private saving and four variables; annual income, age cohort, thoughts on retirement and employment.

Institutional investors are increasing their ownership in corporations and therefore their influence on financial markets is expanding. The Swedish public pension funds are one of Sweden’s largest institutional investors, holding capital for pension savers that amount to 1 123 billion Swedish Kronor. Media and non-governmental organizations’ attention on institutional investors’ corporate engagement have put pressure on their work with socially responsible investments. The Swedish public pension funds are no exception. Recent reports reveal that the pension funds are still owners in fossil fuel intensive corporations as well as firms connected with human rights violations. The aim of this study is to identify factors that influence pension funds’ view on socially responsible investments. Particular focus is directed towards the funds’ view on corporations that are highly involved in fossil fuel emissions. The study is presented as a case study in which a comparison of management between two of Sweden´s public pension funds is made in order to define how the attitude towards socially responsible investments affect the choices of instruments of influence that are used in corporate engagement. The findings of the study argue that the two funds use similar instruments of influence in their corporate engagement. However, differences in how the instruments are applied exist and the study reveals that the two funds’ approaches to corporations that are highly involved in fossil fuel emissions are different. Conclusions from the study are that the funds’ work with socially responsible investments is based on the mandate to serve the Swedish citizens and manage their retirement money in a desirable way. The study argues that the funds’ view on socially responsible investments is based on their role as representatives for the majority of individuals in Sweden and that the funds actions, consequently, should reflect the majority opinion of the Swedish society.

<p>Population aging is a global phenomenon occurring both in developed and less developed countries. While families are still playing an important role in providing support for elderly people, governments are also expanding their public old-age support programs in many societies. Public pensions are one of the major policy tools geared to social protection of the elderly. However, little is known about how the programs affect elders particularly in terms of their subjective well-being. Such effectiveness depends in part on the extent to which public pension income displaces or `crowds out' family elder support. Using the introduction of the Basic Old-Age Pension (BOAP), a non-contributory old-age pension in Korea, this dissertation examines the relationship among public support, family support, and life satisfaction of the elderly.</p><p>As an introductory chapter, chapter 1, "The continuing importance of children in relieving elder poverty: evidence from Korea," describes the actual financial status of elderly Koreans and the amount of financial support they receive from children. Analysis of the 2006 Korean Longitudinal Study of Ageing shows that almost 70 per cent of Koreans aged 65 or more years received financial transfers from children and that the transfers accounted for about a quarter of the average elder's income. While over 60 per cent of elders would be poor without private transfers, children's transfers substantially mitigate elder poverty, filling about one quarter of the poverty gap. Furthermore, children's transfers to low-income parents tend to be proportionally larger, so elder income inequality is reduced by the transfers. Over 40 per cent of elders lived with a child and co-residence helps reduce elder poverty. </p><p>Using the introduction of BOAP, chapter 2, "Does money buy happiness?: Evidence from a new government pension in Korea," assesses how the program affected elders' life satisfaction. Notably, this study adds valuable evidence to the literature of whether money buys happiness, a question of great interest but notoriously difficult to answer given the difficulties associated with isolating income as a causal factor. To make the causal inference, this chapter utilizes a difference-in-difference research design and analyzes longitudinal data from the Korean Retirement and Income Study (KReIS). Results show that BOAP did raise elders' life satisfaction: annual benefits of 1,000 kW, approximately 1,000 U.S. dollars, raised elders' life satisfaction by 0.16-0.22 of one standard deviation and the effect was statistically significant. </p><p>Chapter 3, "Public support crowds out family support: Evidence from a new government pension in Korea," investigates how public financial provision affects family support. In particular, the present study provides a novel estimate of crowd-out by BOAP by using a combined measure of financial support and in-kind support received from all adult children regardless of their co-residence status with elderly parents. This paper also examines the impact on co-residence and is the first quasi-experimental study on the crowd-out question using data from an Asian nation. Results from difference-in-difference analyses of the KReIS data show that every $1 from the pension led to a 30-cent drop in children's support, netting a 70-cent increase in elders' income. The impact on the likelihood of elders' co-residing with children was positive but not statistically significant. </p><p>By showing that Korean children still play a crucial role in providing financial old-age security, chapter 1 demonstrates how important it is for the Korean government to design old-age policies that preserve the incentives for private assistance. The second chapter suggests that, at least in the context of modern-day Korea, pensions do buy happiness, or at least satisfaction. This finding suggests that researchers and policymakers need to pay further attention to public pensions as a tool to intervene people's subjective well-being. Finally, chapter 3 confirms that crowd-out of family support does occur in Korea and that increases in income, more so than other factors, have a positive impact on elders' life satisfaction found in chapter 2. These findings may generalize to other rapidly changing societies with a strong family elder-support tradition and emerging public elder-support system.</p> / Dissertation

Syfte: Denna studie syftar till att undersöka vilka variabler som påverkar olika frågor gällande pension. De frågorna angående pensionen som undersöks är:Vilka människor… … har tänk på sin pension? … har ett privat pensionssparande? … tänker jobba och ta ut pension samtidigt? … planerar att gå i pension tidigt respektive sent? Metod: Undersökningen utförs med en kvantitativ metod. Enkätundersökningen som analyseras kommer från en tidigare undersökning gjord av Finseraas och Jakobsson (2013). Uppsatsen följer en induktiv metod. Slutsats: Studien visar att variablerna som ingick i grundmodellen, vilka är kön, ålder, utbildningsnivå, civilstånd och inkomst, alla var signifikanta i en eller fler av frågorna som undersöks. Men även en del andra variabler visade sig vara av betydelse. / Objective: This study aims to examine which variables have an effect on questions regarding retirement. The questions are as follows: Which individuals… …have thought about their retirement? …are saving privately for their retirement? …plan to work at the same time as they receive pension? …are planning for early or late retirement? Methodology: The study is conducted using a quantitative method. The data analyzed comes from an earlier survey conducted by Finseraas and Jakobsson (2013). The essay follows an inductive method. Conclusion: The study shows that the variables included in the basic model, which are gender, age, education, marital status and income, all were significant in one or more of the questions under investigation. Some other variables were found to be of significance.

The thesis examines Canada's public pension system and its economic impact. It discusses the evolution of Canada's public pension plans and by reviewing reports commissioned by the Quebec, Ontario, and federal governments as well as other studies, it indicates the possible direction that the system may take in the future. A two-period model of consumption planning is employed to illustrate the effects of social security programs on saving. A neoclassical growth model is then considered to see what criteria are used to determine the optimal rate of saving. By referring to the Cambridge economists' views on this subject, possible weaknesses in the neoclassical theory are exposed and the implications for economic growth are established. The empirical part of the thesis attempts to resolve two important questions, namely, the extent to which public pension plans have affected personal saving in Canada and the role of public pension benefits in the retirement decision.