Articles about the Pension System

Abstract

Public finance reforms, that are generally considered indispensable by economists, have not been carried out since the regime change. Possibly the only significant progress made has been the initiation of the pension reform by the introduction of the second pillar of the pension system. Even this step has been accompanied by loud disputes, doubts and criticism. Many experts regard the private pension system as a success story, – for example, Farkas Hamar in his article published in the Statistical Review in December 2003 – but its real test will take place in the near future when the first payments will be made.