Determinante potražnje za privatnim mirovinskim osiguranjem

master's thesis

• Title (english): The determinants of demand for private pension insurance
• Author: Kristina Bašić
• Mentor: Maja Mihelja Žaja (mentor)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2019-09-18, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Mirovinsko osiguranje je središnji sustav mreže socijalne sigurnosti pomoću kojih se regulira osiguranje starosti, invaliditeta te gubitka hranitelja. S obzirom na sve veće demografske promjene, dodatni mirovinski programi presudni za održavanje socijalne sigurnosti. Upravo se zbog toga analizira privatno mirovinsko osiguranje te odrednice njegove potražnje.
U radu je analiza privatnih mirovinskih osiguranja razrađena na temelju indikatora uređenja mirovinskih sustava, a istražene su i odrednice potražnje za privatnim mirovinskim osiguranjem na odabranom uzorku zemalja.
Kao očekivane determinante potražnje odabrane su stopa zaposlenosti, stopa zamjene, trajanje radnog vijeka te javni dug. Cilj rada je odrediti varijable koje najbolje objašnjavaju uzrok promjene za potražnjom privatnog mirovinskog osiguranja. Navedena problematika identificirala se pomoću neuravnoteženog panel modela za razdoblje od deset godina na uzorku od deset novih zemalja članica Europske unije.
Prema provedenoj analizi stopa zamjene te trajanje radnog vijeka djeluju negativno na imovinu privatnih mirovinskih osiguranja. S druge strane, varijabla javnog duga te povećanje stope zaposlenosti imaju pozitivan utjecaj na imovinu privatnog mirovinskog osiguranja.
Uspoređujući navedena tri modela pomoću izrađenih testova, dolazi se do zaključka kako varijable nisu homogene već su fiksne, ali nisu slučajne. Također, Ono što se uočava je varijabla javnog duga koja u sva tri promatrana modela statistički značajna te varijabla stope zamjene koja je značajna u dva modela. Stoga se ovim istraživanjem može zaključiti da je hipoteza o veličini javnog duga i stope zamjene ključna odrednica imovine privatnih mirovinskih osiguranja.
Iako se privatno mirovinsko osiguranje razvija u sve većoj mjeri, važno je naglasiti kako se u okviru socijalne politike ne razmatra potpuna privatizacija socijalnih osiguranja, već je potrebno proširiti navedene mjere i poboljšati utjecaj na razinu mirovinskog opterećenja.

Abstract (english)

Pension insurance is the central system of the social security network which regulates risks of old-age, disability and loss of breadwinner. Given the increasing demographic change, additional retirement programs are crucial for maintaining social security. This is precisely why private pension insurance and the determinants of its demand are analyzed.
The paper analyzes private pension insurance based on indicators of pension system regulation, and examines the determinants of private pension insurance demand on a selected sample of countries.
The expected determinants of demand are employment rate, replacement rate, length of service and public debt. The aim of the paper is to determine the variables that best explain the cause of the change in demand for private pension insurance. These problems were identified using an unbalanced panel model for a period of ten years on a sample of ten new EU Member States.
According to the analysis, replacement rates and length of service have a negative impact on private pension assets. On the other hand, the public debt variable and the increase in employment rates have a positive impact on private pension assets.
Comparing the three models using the tests made, it is concluded that the variables are not homogeneousm, they are fixed. Also, what is observed is that the public debt variable is statistically significant in all three observed models, while the rate variable was found significant in two models. Therefore, this study concludes that the hypothesis of public debt size and replacement rates is a key determinant of private pension assets.
Although private pension insurance is in rise, it is important to emphasize that social policy does not consider full privatization of social insurance, but needs to extend these measures and improve the impact on the pension burden level.

• Keywords: mirovinski sustav; mirovinsko osiguranje; potražnja za privatnim osiguranjem; indikatori mirovinskog osiguranja; analiza panel podataka
• Keywords (english): pension system; pension insurance; demand for private insurance; pension insurance indicators; panel data analysis
• Language: croatian
• URN:NBN: urn:nbn:hr:148:730566
• Study programme: Title: Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2019-09-18 09:02:57