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

1. Introduction

2. Fundamentals of Moldova’s Pension Legislation
2.1. General Principles
2.2. Insurance Contributions and the Tax Base
2.3. Types of Pensions and Terms and Conditions of Their Assignment
2.3.1. Old-age Pensions
2.3.2. Invalidity Pensions
2.3.3. Survivor’s Pensions
2.3.4. Pensions to Specific Categories of Population
2.3.5. Social Pensions/Benefits
2.3.6. Pensions Paid at the Account of the State Budget
2.4. The Minimal Pension and Guaranteed Minimum
2.5. Pension Indexing

3. The Present-Day Demographic Setting
3.1. General Population Changes
3.2. Fertility
3.3. Mortality and Life Expectancy
3.4. Population Growth and Migration
3.5. The Base Demographic Forecast

4. Demographic Trends in the Economic Activity of the Population
4.1. Demographic Factors Affecting the Number of Population at the Economically Active Age
4.2. The Profiles and Dynamics of the Economic Activity of the Population
4.3. Projection Scenarios for the Economic Activity of the Population

5. General Employment Issues

6. Payers of Pension Contributions
6.1. The Profile and Number of Pension Contribution Payers
6.2. Projection Scenarios for Insurance Contribution Payers

7. Recipients of Pensions/Benefits
7.1. Profile of Pension Recipients
7.2. Old-Age Pensioners
7.3. Invalidity Pensioners
7.4. Recipients of Pensions for Survivors
7.5. Recipients of Social Pensions/Benefits
7.6. Forecast of Pensioner Numbers

8. Present-Day Macroeconomic Environment
8.1. Historical Background
8.2. Base Macroeconomic Forecast

9. Software Complex
9.1. Mission and Structure of the Software
9.2. Computation Scenario Block
9.3. Demography Block
9.4. Macroeconomics Block
9.5. Receipts Block (Calculation of Contributions)
9.6. Expenditure Block
9.7. Output and Reports

10. Approbation of the Model
10.1. Modelling Scenarios
10.2. Simulation Output
10.3. Computations on the Pension Calculator

Annex 1. Base scenario




Development of the Analytical Model of the Republic of Moldova’s Pension System

9.7. Output and Reports

“Analytical Model of the Pension System of the Republic of Moldova” makes it possible to compute a large number of output indices. They are listed in Table 9.1.

Such a large number of output indices require adequate facilities for reviewing and selecting input data of interest and output of computation provided both in a graphic and tabular form.

The model offers three main methods of presenting simulation outcomes:

  1. by means of visual forms equipped with a flexible system for selecting indices of interest. (Customary form for presenting simulation output is displayed in Fig. 9.9);
  2. expanded report (‘Results’ Sheet) which exhibits the majority of the simulation results as time series;
  3. standard report (‘Tables’ Sheet) in which input data and simulation results are put down in such a manner to be adaptable for importation into written reports, presentations, etc.

Table 9.1


Output parameters

As differentiated by

GDP

 

Wage-bill

Payer category

Real rate of productivity growth

 

Real rate of wage growth

 

Wage

Payer category

Minimal Pension

 

Guaranteed Minimum

 

Level of economic activity

 

Population numbers

Sex, age

Aged burden rate

Intervals of grouping by age

Numbers of economically active population

Sex, age

Numbers of unemployed persons

Sex, age

Numbers of employed population

Sex, age

Numbers of insurance contributions payers

Sex, age, payer category (employees, hired agricultural workers, farmers, self-employed persons)

Numbers of pensioners

Sex, age, pension recipient category (old-age pensioners, i.a. hired agricultural workers and farmers, invalidity pensioners, survivors, social pensioners, and other old-age pensioners)

Pension burden rate

Sex

Effective contribution rate

Payer category

Total amount of insurance contributions to the Pensions and Benefits Fund

Sex, age, payer category

Receipts of the Pensions and Benefits Fund

 

Size of a pension received

Sex, age, pension recipient category

replacement rate

Sex, pension recipient category

Admissible rate of replacement

 

Expenditure for pension payments

Sex, age, pension recipient category

Administrative expenses

 

Expenses of the Pensions and Benefits Fund

 

Balance of the Pensions and Benefits Fund

 

Cash flow from employees to other categories of insured persons

 

Fig. 9.9: Output Form

Main output data of the “Pension Calculator” are to be laid into the visual form as displayed in Fig. 9.10. The list of these data is as follows:

  1. projected length of an insurance contributions record prior to retirement,
  2. size of the pension within the former scheme,
  3. size of the pension within the new scheme,
  4. total amount of an earned pension,
  5. amount of wage at the moment of retirement,
  6. replacement rate,
  7. ratio to the subsistence minimum of the pensioner.

Fig. 9.10: Customary form of the “Pension Calculator”


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