Open AccessRetirees and employees ratio in the context of demographic ageing in Serbia
Author(s) -
Jelena Stojilković,
Mirjana Devedžić
Publication year - 2010
Publication title -
zbornik matice srpske za društvene nauke/zbornik matice srpske za društvene nauke
Language(s) - English
Resource type - Journals
eISSN - 2406-0836
pISSN - 0352-5732
DOI - 10.2298/zmsdn1031177s
Subject(s) - baby boom , life expectancy , pension , population ageing , context (archaeology) , socioeconomic status , retirement age , population , demographic economics , fertility , total fertility rate , economics , labour economics , business , demography , geography , sociology , finance , research methodology , family planning , archaeology
Retirees, as a group of economically inactive population, are especially important for future population trends, since their number is constantly growing. Our pension and disability insurance fund has a problem managing unfavorable socioeconomic trends and demographic reality, considering that the number of employees is steadily declining. Employee to retiree ratio has been affected by serious changes during the last half a century, and it declined from 5:1 in 1960s to 1,4:1 nowadays. This is a result of population ageing (life expectancy rising and dropping of total fertility rate) and unrestrictive law that allowed pensions to those who didn't deserve it (the share of disability retirees is significantly higher than that in other countries). An additional issue is the fact that baby boom generations are a few years away from the legal age acquired for the age pension. The data used in this paper are provided by the pension and disability fund.