Economy & Business, Volume 12, 2018

Rezumat: In most countries of the European Union the population is ageing and there is a pressure on financing the current levels of pensions. That is why many pension reforms were undertaken in a lot of countries. As a consequence, future pensions from public systems will be less generous compared to nowadays. Terms like “adequate” and “sustainable” are well perceived among politicians and researchers as long-term goals in pension security. The question is how to reach and preserve this state in the light of the macroeconomic and demographic trends. Organizations like the European Commission, the European Parliament, the European Council, the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development are proposing governments to make efforts for encouraging private pensions. In the European Union pension policy is within the competence of every member state. This leads to various proportions between public and private pensions. The different decisions in pension security design are creating confusion among market players, beneficiaries and are increasing fragmentation, decreasing the pension product efficiency and erodes the trust. One solution of the problems is to adopt integrated approach for the whole pension system, develop long-term policies and find a balance between public and capital pensions. The report deals with analyzing these problems and seeking solutions for better saving for the households.