Munich Personal RePEc Archive

Pension Insurance Cohesive Testing System

Arzybaev, Askarbek (2015): Pension Insurance Cohesive Testing System. Published in: International Journal of Advanced Multidisciplinary Research and Review , Vol. 3, No. 4 (January 2015): pp. 105-123.

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Abstract

Many public pension systems worldwide are experiencing difficult economic period as its economy is in the period of financial crisis which affected to the social budget sustainability. Population aging and last decade economic circumstances are the factors the pension systems should overcome for maintaining either appropriate level of benefit amount for decent life in the developed countries or minimum subsistence allowances in developing and poor countries. The only prescription how to keep the pension system resistible is its periodical renovation by testing the system on (i) soundness and effectiveness within national financial and economic system, (ii) appropriateness of its organization and administration, (iii) compliance of parameters with international standards. The article presents Cohesive Testing System – new method of national pension systems testing and indexing based on international standards of pension security and new CTS indices of the researched set of pension systems.

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