Due to demographic change, the fiscal sustainability of pension schemes financed on a pay-as-you-go (PAYGO) basis is of more interest for policy makers than ever. Unsustainable financing brings along a future burden to pensioners through pension cuts and/or to the working population through...

EU regulations since 2017 have required all Member States to disclose their accrued-to-date pension liabilities (ADL) using a standard actuarial cost method and some common assumptions. This applies to both Social Security (SS) schemes and unfunded defined benefit (DB) schemes covering civil...

This study offers insights into the critical challenges and undesirable outcomes of a fundamental reform of the healthcare sector in Indonesia. the authors introduce a universal social security administration agency called Badan Penyelenggara Jaminan Sosial (BPJS). BPJS expand the health...

In this paper we develop a theoretical basis for drawing up a “Swedish” type actuarial balance sheet for a defined benefit pay-as-you-go (DB PAYG) scheme with retirement and disability benefits. Our model enables us to obtain the system's expected average turnover duration, measure the...

This article discusses the legislative history of the Social Security Protection Act of 2004 (SSPA) in detail. It includes summaries of the provisions and a chronology of the modification of these proposals as they passed through the House and Senate, and ultimately to the president's desk. With...

Romanian Journal of Public Affairs is aiming to promote interdisciplinary research in governance, public administration, public affairs, public policy, law, economics and finance, following the philosophy of international interdisciplinary journals.This number of the journal contains the...

We present a framework for accounting of the German statutory pension scheme and estimate a balance sheet for the years 2005 until 2012. Extending and applying the methodology proposed by Settergren and Mikula (2005), we estimate the cross-sectional internal rates of return of the German pension...

The article provides a discussion on results of extensive empirical research conducted in 2016 on a sample of 495 local government authorities, using the CAWI questionnaire technique supported by the CATI survey. The results thus obtained were verified in statistical terms and then critically...

Due to demographic change, the fiscal sustainability of pension schemes financed on a pay-as-you-go (PAYGO) basis is of more interest for policy makers than ever. Unsustainable financing brings along a future burden to pensioners through pension cuts and/or to the working population through...

Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act. While deficits widened anew in 2008 and 2009, against the backdrop of the global financial and economic crisis, efforts to reduce them have resumed since. To ensure...