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1. Introduction 2. Fundamentals of Moldova’s Pension Legislation 3. The Present-Day Demographic Setting 4. Demographic Trends in the Economic Activity of the Population 6. Payers of Pension Contributions 7. Recipients of Pensions/Benefits 8. Present-Day Macroeconomic Environment 9. Software Complex 10. Approbation of the Model Annex 1. Base scenario
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Development of the Analytical Model of the Republic of Moldova’s Pension System
9.6. Expenditure BlockExpenditure Block of the “Analytical Model of the Pension System of the Republic of Moldova” separately calculates amounts of pensions and allowances for each pensioner category accepted in the model. In case of old-age pensioners (former agricultural and non-agricultural workers) and invalidity pensioners, pensions are calculated according to legal pension formulas. Pensions to pensioners of other categories are computed as rates of old-age pensions to former non-agricultural workers. The model allows changing some of the pension formula factors and setting pension indexing factors for the period after retirement. The model includes a revaluation formula which makes it possible to calculate the amount of an average monthly insured income by applying a revaluation coefficient. Computation chart of the Expenditure Block is depicted in Fig. 9.8. Fig. 9.8: Computation scheme of the Expenditure Block “Pension Calculator” provides for computation of pensions to the following categories of pensioners: old-age pensioners (agricultural), old-age pensioners (non-agricultural), invalidity pensioners of Disability Groups I, II, and III. Unlike the “Analytical Model of the Pension System of the Republic of Moldova”, “Pension Calculator” offers differentiation of pensioners by Disability Group, since such computation requires no additional statistical information. In designing the “Pension Calculator” a great deal of attention was paid to ensure possibilities for analysing influence exerted by factors of pension formulas, so the user may change almost all the factors. |
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Independent Actuarial Information-Analitical Center |