"Several pillar" for the pension systems

Providing pensions to citizens is a priority for most countries of the world and especially in Europe.

At an international seminar regarding the pension funds, the experts have recommended the development of some systems based on state-run funds, as well as private funds.

People could be encouraged to seek private pensions if they have a stable job.

In particular, due to the trend of population aging, which manifests itself in most countries of Europe, the creation of a pension system, equitable and economically viable, is a major challenge.

Precisely for this reason, among the elements that need to be considered is included the maintaining of a multi-pillar approach to pension systems, the need for diversified allocation of available resources and ensure a functioning market structure.

Also, it should be maintained also the state involvement in the field by the system of deductions that stimulate people to appeal inclusively to voluntary private pensions, considers the Chairman of the Private Pension System Supervisory, Marian Sarbu.

"A system that additionally encourages the deduction, to encourage the saving capacity for pillar III is, in my opinion, desirable," said Marian Sarbu.

New generations that will have to ensure both their own financial future, but also to contribute to funding for pensioners already in payment, is the biggest challenge for Europe, also says Marian Sarbu.

In addition, for the central and eastern part of the continent, the main problem is creating jobs, especially for young people.

Translated by Alexandra-Diana Mircea
MTTLC, Bucharest University