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Legislation Publications Pension models About project Statistics
Legislation Publications Pension models About project Statistics

1. Introduction

2. Actuary expertise
2.1. Contents of the actuary expertise
2.2. Actuary control cycle
2.3. Actuary expertise tools

3. Basics of the pension legislation of the Republic of Moldova
3.1. General principles
3.2. Social insurance contributions and taxable basis
3.3. Pension types and conditions of their assignment
3.3.1. Old age pensions
3.3.2. Disability pensions
3.3.3. Survivors pensions
3.3.4. Pensions to some categories of citizens
3.3.5. Social pensions/benefits
3.3.6. Pensions paid from the state budget
3.4. Minimal pension and guaranteed minimum
3.5. Pension formulas
3.6. Pension indexation

4. Demographic situation in the Republic of Moldova
4.1. Dynamics of population number and sex/age structure
4.2. Birth rate
4.3. Mortality and life expectancy
4.4. Marriage and divorce rates
4.5. Population natality and reproduction
4.6. Demographic forecast

5. Current macroeconomic situation
5.1. Tendencies of population economic activity
5.2. Development of basic forecast

6. Background information on pension insurance
6.1. Number of pensioners
6.1.1. Analysis of the number of pensioners
6.1.2. Distribution of the number of pensioners by pension types
6.1.3. Sex/age number of pensioners
6.2. Pensioner’ standard of living
6.2.1. Average size of pensions
6.2.2. Compensation of lost wage
6.2.3. Gender differences in pension sizes

7. Modeling outputs

8. Outputs and perspectives of the development of pension system of the Republic of Moldova

9. Annex: Analysis of the risks of the Non-Financial Defined Contribution (NDC) and Financial Defined Contribution (FDC) pension systems
9.1. Principles of the design of NDC pension system
9.2. Principles of the design of FDC pension system
9.3. Experience of applying FDC schemes
9.4. Comparison of NDC and Funded schemes




Pension system of the Republic of Moldova: actuary expertise

6.1.2. Distribution of the number of pensioners by pension types

According to the pension legislation of the Republic of Moldova the state pension insurance system stipulates the following types of pension beneficiaries:

  • Beneficiaries of old age pensions out of the number of pensioners not involved in the agricultural sector (further on – beneficiaries of non-agricultural pensions);
  • Beneficiaries of old age pensions out of the number of pensioners involved in the agricultural sector (further on – beneficiaries of agricultural pensions);
  • Beneficiaries of disability pensions;
  • Beneficiaries of survivors pensions.

The Picture 6.6 presents the data on distribution of the number of pensioners by pension types for the period from 2001 to 2006. In the studied period the more numerous pension beneficiaries were beneficiaries of agricultural pensions. In 2005 they constituted 39,3% of the total number of pensioners; the beneficiaries of non-agricultural pensions – 35,9%, disabled pensioners – 20% and beneficiaries of survivor pensions – 4,8%. In the first six months of 2006 this structure remained unchanged.

At the same time it is to be mentioned that the structure of the number of pensioners differentiated by pension types has been changed in the reported period. So the share of the most numerous category of pensioners – old age pensioners-beneficiaries of agricultural pensions – went down from 44,6% (2001) to 39,3% (2005). The share of old age pensioners-beneficiaries of non-agricultural pensions grew up from 32,7% to 35,9% and beneficiaries of disability pensions – from 17,7% to 20%.

As it seems these changes are related to the specifics of sex/age structure of different categories of pensioners, impact of the increase of pension age and reduction of the number of agricultural population etc.

The structure of the number of new pensioners by pension types differs significantly from the general structure (Picture 6.7a). This is first of all the result of the increase of pension age. It is clear seen that in the period of pension age growth the number of old age pensioners was decreasing sharply that led to the fact that in 2001-2002 the disability pensions constituted almost half of newly assigned pensions.

After the “freezing” of the retirement age, the number of old age pensioners has begun to grow up and the structure of the number of “new” pensioners acquired the usual proportions.

The main difference from the structure of the number of all pensioners in this period is the prevalence among old age pensioners of beneficiaries of non-agricultural pensions. In 2005 the “new” old age pensioners-beneficiaries of non-agricultural pensions constituted 40,5% (in the first six months of 2006 – 43,2) and beneficiaries of agricultural pensions – 22,6% (in the first sex months of 2006 – 23,4%).

If examine the structure of the number of pensioners by pension types differentiated by men and women, serious gender differences could be noticed (pictures 6.6b, 6.6c, 6.7b, 6.7c)1.

First of all in 2005 the share of men-beneficiaries of disability pensions constituted 28,8% of the total number of pensioners, while women – 16,7%. Among new pensioners-men the beneficiaries of disability pensions represent the most numerous category in the reported period (2001-2005). If after the freezing of the retirement age the share of newly assigned disability pensions for women started to decrease (from 60,8% in 2002 to 19,1% in the first half of 2006), for men it was reduced by 36,8 % in 2003 (in 2002 it constituted 60,8%) and then grew up and constituted in the first half of 2006 – 46,4%. These tendencies allow supposing that the share of pensioners-beneficiaries of disability pensions among new pensioners-men could continue its increase in future.

The second important difference in the structure of newly assigned pensions to women and men is the fact that the share of non-agricultural pensions is higher for women. So in 2005 they constituted 54,7% of the newly assigned pensions to women and 30,3% - to men. This situation is probably explained by differences in men’s and women’s employment.


а) both sexes


b) men

с) women

Picture 6.6 Distribution of the number of pensioners by pension types.


а) both sexes


b) men

с) women

Picture 6.7 Distribution of the number of “new” pensioners by pension types.

Table 6.1
Number of newly assigned pensions by pension types

 

Old-age non-agricultural

Old-age agricultural

Disability

 

men

women

men

Women

men

women

 

pers.

%

pers.

%

pers.

%

pers.

%

pers.

%

pers.

%

2001

1526

52.4

1388

47.6

1068

73.7

382

26.3

4206

51.3

3994

48.7

2002

1595

53.6

1381

46.4

1362

72.3

522

27.7

3569

54.7

2954

45.3

2003

5072

50.5

4965

49.5

5029

76.5

1543

23.5

4396

53.7

3784

46.3

2004

4063

40.1

6066

59.9

3616

58.9

2528

41.1

4131

52.6

3716

47.4

2005

3920

29.0

9616

71.0

3197

42.4

4343

57.6

5055

52.9

4497

47.1


1. Unfortunately, the NSIH data do not allow to divide the number of pensioners-beneficiaries of survivor pensions by sex, therefore this category was excluded from the analysis.


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