DEDUCTIBILITY OF CONTRIBUTIONS TO VOLUNTARY PRIVATE PENSIONS

DEDUCTIBILITY OF CONTRIBUTIONS TO VOLUNTARY PRIVATE PENSIONS

The present paper approaches the notion of public and private pension in Romania. Pension can be seen in terms of a replacement income to individuals whose age no longer affords to operate in the labour market. Pension reform in Romania has allowed besides the public pension system, called Pillar I,...

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Bibliographic Details
Main Authors: LILIANA MUNTEAN, ANA-PETRINA STANCIU
Format: Article
Language:English
Published: University of Petrosani 2011-01-01
Series:Annals of the University of Petrosani: Economics
Subjects:
public pension
private pension
pension system
distributive system
Online Access:http://www.upet.ro/annals/economics/pdf/2011/part4/Muntean-Stanciu.pdf
Description
Summary:The present paper approaches the notion of public and private pension in Romania. Pension can be seen in terms of a replacement income to individuals whose age no longer affords to operate in the labour market. Pension reform in Romania has allowed besides the public pension system, called Pillar I, which is a distributive system based on solidarity between generations also a private pension system that records the contributions of participants in individual accounts, based on capitalization, investment and accumulation of these contributions.
ISSN:1582-5949
2247-8620

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