The Implications of Demographic Pressure on the Occupancy Rate on the Labor Market and of the Pension System

Social welfare for the elderly is increasingly a challenge to European countries, a situation that is mainly due to demographic changes of recent years and the many difficulties encountered by the current pension systems. The EU's population faces an intense aging process, due to considerable progress of the society and resulted in a substantially reduced mortality and a higher life expectancy. Romania also faces a similar situation, especially as the first wave of the so-called "baby boom" generation is already close to retirement. This makes the "dependency rate...