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

Pension system of the Republic of Moldova: actuary expertise

Ed. by V. Baskakov.
Moskow: AER „Asigurarea sociala si de pensionare” 2007
© Centrul Independent Actuarial Informational - Analitic, 2007
© AER „Asigurarea sociala si de pensionare” 2007

This monograph is the next book in the series “National pension systems: actuary expertise”, released by the Independent Actuarial Information Analytical Center in collaboration with experts from member-countries of the International Association of Pension and Social Funds of CIS and BALTICS. In 2007 the monograph “Pension system of the Russian Federation: actuary expertise” was also released in this series.

The monograph is devoted to the actuary expertise of pension system and analysis of results of pension reform, carried out in the Republic of Moldova. Long-term forecasts of basic financial and socio-economic activities of pension system, based on the program complex of simulation models of the Republic of Moldova’s Pension System, are presented in this book; some recommendations on perfection, maintenance and stability of the Republic of Moldova’s Pension System  are also performed here.

This book is intended for economists, experts in social and pension insurance, and also for anyone, who is interested in problems, connected with reforming of post-Soviet Pension Systems.


Independent Actuarial Information Analytical Centre:
Valeriy Baskakov, Professor, D.Sc. (Mathematics), director
Elena Krylova, PhD., head of department
Anna Selivanova, actuary
Evgeny Yanenko, actuary
Vladimir Arhangelskiy, expert
Valeriy Elizarov, PhD., expert
Alexander Lelchuck, PhD., expert

Republic of Moldova Ministry of Health and Social Protection:
Viktor Myndru, deputy minister
Elizaveta Ivanova, head section
Alexander Synchetru, expert

Translation by Veronica Maevschi


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

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