The Role of Actuarial Calculations in Ensuring the Financial Sustainability of Pension Funds

Abstract

Due to impetuous demographic changes that have hit our planet over the last decade, financial sustainability of pension funds becomes an actual problem of 21st century. This article is dedicated the role of actuarial calculations in ensuring balanced and trustworthy pension system. Actuarial models help forecast financial burdens and analyze potential risks of increased taxes for the workforce. The research involves thorough analysis of impact of demographic trends on pension funds and potential ways of increasing stability in government payments. In this article there were applied either theoretical or practical methods of analyses, including statistical data and current legislative norms. CZU: 368.5:[368.4:336.1]; JEL: C63, J26, G22, H55