The Challenges of Financing the Pension System in the Republic of Moldova at the Current Stage

Abstract

Currently, the state social insurance budget does not have sufficient income to maintain the stability of the pension system, thus recording a budget deficit. Moreover, the situation could worsen due to some demographic factors such as migration or the aging of the population. That is why it is paramount to understand the current situation to find long-lasting solutions to achieve one of our national goals of having a stable pension system. The research methods used are mathematical, logical, induction, and graphic models, as well as studying the processes over time. After carrying out the research, as a result, I concluded that if steps aren't taken to keep young people within the country, decrease unemployment, promote financial literacy, and possibly create a favorable investment environment, the pension system is bound to collapse inevitably. CZU: 336.5:35.087.431.3(478); JEL: J6, G2, H6