Business Management

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ISSN: 2534-8396-Electronic Edition

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  • Tsvetelina Nenkova
    CONCEPTUAL FOUNDATIONS OF EFFICIENCY IN PUBLIC PENSIONS
    JEL: J26
    Keywords: efficiency, old age social security, efficiency in old age social security, economic effect, social effect.
    Abstract: This article examines the efficiency of public pensions. The need for an efficiently functioning pension system is highlighted based on the theoretical foundations of pension social security concepts such as: ‘welfare for the elderly’, ‘retirement insurance’ a factor for increasing the ‘productivity of labour’, a form of ‘return on human capital investment’, a solution to the ‘prodigal father’ problem and ‘longevity insurance’.

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