| Abstract [eng] |
Master’s thesis is one of the most pressing topics in Lithuania. Due to the socio-economic and rapid demographic changes, fiscal and globalization phenomena, pension schemes are facing with financial sustainability and instability issues. Moreover, currently existing old-age pension system of three pillars is facing with others challenges like financial illiteracy, distrust of pension schemes, lack of readiness and motivation of pension system participants to accumulate for their individual pensions. For these reasons the researchers in Lithuania seek to find the solutions of how to ensure adequate social protection, and balance between state social insurance and individual personal responsibility. Therefore in the master’s thesis there was formulated the main issue: how to improve the model of pension accumulation scheme? The objective of the master's thesis is to carry out the evaluation of improvement opportunities of pension accumulation scheme after an examination of the theoretical aspects of pension accumulation model. For this reason in the master‘s thesis there were raised the following tasks: to describe the analysis of the problem of pension accumulation scheme improvement opportunities, to analyze theoretical aspects of pension accumulation scheme improvement opportunities, to examine methods of evaluation of pension accumulation scheme improvement opportunities and carry out the evaluation of improvement opportunities of pension accumulation scheme in Lithuania. In order to implement the purpose and following tasks of the master‘s thesis there were applied various methods such as analysis of scientific literature, legal acts, statistical data, financial calculations and case projections using the future and the present value methods and etc. Theoretical part of the master’s thesis have showed that the most appropriate alternatives of pension scheme changes are occupational pension funds where contributions are paid by employers. Evaluation of existing pension accumulation scheme alternatives have showed that I, II, III alternatives of pension accumulation will be able to guarantee from 55 to 65 per cent of people former wages in old age. Evaluation of improvement alternatives of pension accumulation schemes allow to solve the problem of small income in old age. These three proposed pension accumulation options will be able to guarantee from 67 till 86 per cent former wages in old age. Moreover, these occupational pension funds of III pillar for their tax reliefs are beneficial not only for employees but also for employers. Master's thesis consists of 122 pages (30 of them is annexes of main financial calculations), 34 tables, 25 pictures and 90 references. |
