| Abstract [eng] |
Purpose of this study is to identify and to evaluate the main trends in the development of old-age pensions and sickness benefits schemes (by designing social insurance system models) and to determine the possible ways how to increase the efficiency in consumption smoothing policy and how to increase the financial sustainability of the old-age and sickness insurance schemes. This study searches for answers to the questions: how to maintain the consumption opportunities of beneficiaries, how to maintain a balance between the contributions paid and benefits received (the balance between the price paid and goods received), how to reduce the risk of budget deficit explosion and how to maintain the consumption opportunities of beneficiaries and insured. Consumption smoothing analysis focuses on the identity between the contributions paid and benefits received, on the analysis of replacement rates, on the analysis of pensioners to insured ratio (and on the possibilities of interpretation the analysis provide). The study determined the cycles of Lithuanian social insurance system development, examined and evaluated three different pensions' indexation policies, examined and evaluated the utility and performance of second pillar pension funds and carried out the study of possibilities of raising the efficiency in Lithuanian sickness benefits scheme. This study helps to deeper the understanding of how population aging affects the economy and provides the materials for future theoretical and applied research in order to get answers to the following questions: what determines whether a country is becoming a donor or recipient of labor in aging society, what variables determine the status of the country and what measures can be used in order to achieve a desired result? |
