Research :: Finished research :: 2016-2020
Fully Funded Pension System in Six Countries on the Balkan Peninsula

For: World Bank, Washington DC and Zagreb 

Researcher: Predrag BejakoviŠ, Institute of Public Finance

The goal of this report was to provide the situation with fully funded pensions system in six countries on the Balkan Peninsula: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Serbia and the Republic of North Macedonia. Unlike Bulgaria, Croatia and Hungary that accepted a mandatory and voluntary fully funded private pension insurance system, the observed Balkan countries, except Kosovo and the Republic of North Macedonia, did not do it for various reasons. While there are many advantages of private fully funded pension insurance - primarily diversification of risk, better protection against political pressures, possibility to develop financial market and so on, there are also surveys that show relatively weak positive effects of such system. 
Time: April – May 2019
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