Pension Systems Differences

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Denmarks’ pension system according to other countries systems Denmarks’ pension system according to other countries systems

Authors:
Cristina Harangozo
Goda Dirzauskaite
Irina Munteanu
Elena Demirova
Jaroslav Kerul-Kmec

Authors:
Cristina Harangozo
Goda Dirzauskaite
Irina Munteanu
Elena Demirova
Jaroslav Kerul-Kmec
11/2/2012
11/2/2012

University College of Northern Denmark

Financial Management Programme

1st semester 2012

1 fie0912

Methodology project

Why is Danish pension system better than in other countries?

The report has been prepared by :

Cristina Harangozo

Goda Dirzauskaite

Irina Munteanu

Elena Demirova

Jaroslav Kerul-Kmec

Supervisors :

Nina Røhr Rimmer

Sara Møller Nielsen

Delivery Date : 2 November 2012

Number of keystrokes in the report : ?

Number of pages in the Report : ?

Contents

I.Introduction3
II.Problem statement3
III.Delimitation3
IV.Methodology4
V.Denmark4
VI.The Netherlands7
VII.Australia10
VIII.Singapore16
IX.Romania18
X.Conclusion23
XI.List of literature24
XII.Appendix25

I. Introduction

The topic is relevant and hopefully interesting and useful for many young people. And since Denmark is the most well-developed pension system will compare it with other countries, who obviously have a omission/gap in their pension systems. Pension rights are very important in the system of social security legislation. The pension is a periodic cash payment, which is acquired subject to certain conditions of the law which are different depending on its type. Denmark is characterized by its high living standards and rules that follow. Denmark has a very well organized economy that is crucial for the developing society and therefore the development of the pension system. Besides the good social, economic and political situation in Denmark, Danish pension system has gotten remarkably good attention for the past years as well. Denmark has the best pension system in the whole world. The question is why is Danish pension system is the best than other countries? What don’t have the other countries? What can they do to improve the pensions systems? As in most countries, and in Denmark the number of elderly people increases. But compared to other countries, Denmark has no so deeply affected by these processes. Therefore, we will make a comparison between Denmark and other countries.

II. Problem statement

The main research question is: Why is Danish pension system is the best than other countries?

III. Delimitation

In our project we are trying to focus on pension systems in the world. We are comparing different retirement ages, annuitization and also different working types of pension systems. We are also focusing on the three pillar system, compulsory contribution and some laws according to pensions and retirement. We are not focusing on investments of pensions, returns from investments and other private pension schemes. We have chosen Denmark because it has the best pension system. Netherlands because it used to be the best one. Singapore as one of the Four Asian Tigers and representant of Asia, because it’s economy is rising very fast. Australia as part of Commonwealth and former colony of England and it is also reprezentant of Oceania. And the last one is Romania in contrast to Denmark or Netherlands, because it has really bad pension system and it is part of Eastern European countries which are known to be in a financial struggle. We also try to make our own suggestions to improve these systems.

IV. Methodology

In order to solve our problem which is why Denmarks’ pension system is the best in the world and how could other countries improve their pension systems we have chosen other countries such as The Netherlands, Australia, Singapore and Romania to make a comparison. We are going to do some analysis and calculations and for that our group has to use our knowledge gained...
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