Lietuvos pensijų sistemos modelis ir pensijų garantijų perspektyvos.
This article describes the problems and the tendencies of the Lithuanian pension system model. The aim of this article is to analyse its status and perspectives. Another aim is to analyse the Lithuanian funded pension system proceedings and consequences and to make recommendations on how to enhance the Lithuanian pension system guarantees, adequacy and sustainability. In the first part of the article the Lithuanian pension system model is analysed. This model has been created on the basis of the model of the Continental European pension system model, with some elements of the pension system models of Eastern and Southern Europe. The recent funded pension system reform has introduced elements of Anglo-Saxon pension system model. The second part of the article deals with the topical issues of the pension system reforms in Lithuania, The Lithuanian National Report on the adequate and sustainable pensions strategy 2005 points out that an average social insurance pension (having indispensable pension record) in 2005 was only 45,8 percent of a total average net salary. 2003 pension system reform was financed by the State social insurance fond; it means that the problem of social insurance pension replacement rate remains acute. The European Commission Report on the adequate and sustainable pensions strategy 2006 suggests that the main problems of the European Union states are the ageing society and higher life expectancy; thus, pensions expenditure is growing. Funded defined contribution pension schemes managed by the state can not be considered as part of the social protection system also. Lithuanian 2003 funded pension system reform partly reduced guarantees, sustainability and adequacy of the social insurance pensions. [...].
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