GLOBAL ECONOMY & GOVERNANCE GEG 2014 International Conference THE ROMANIAN SOCIAL SECURITY SYSTEM IN THE GLOBAL CONTEXT Doina Domnica Pârcălabu General Director Chamber of Deputies 1
CONTENTS Social security system Social insurance system Pension system Unemployment insurance system Health insurance system Accidents at work and occupational diseases system Social assistance system Globalization in social security
- SOCIAL SECURITY SYSTEM Key features - National safety net - Instrument for economic growth - First place in the budgetary framework - Exposed to escalating restraints - By large, provider of old-age benefits and contributory benefits - Subject to on-going reform processes correlated to European and World Bank practices 3
SOCIAL SECURITY SYSTEM Main components SOCIAL INSURANCE SYSTEM SOCIAL ASSISTANCE SYSTEM 4
SOCIAL INSURANCE SYSTEM Key features - Long tradition (1868 pensions for state officials) - Contributiveness - Intra and inter-generational solidarity - Both public and private social insurance systems 5
SOCIAL INSURANCE SYSTEM Main components PENSION SYSTEM UNEMPLOYMENT INSURANCE SYSTEM HEALTH INSURANCE SYSTEM ACCIDENTS AT WORK AND OCCUPATIONAL DISEASES 6
PENSION SYSTEM Main sub-components Pillar 1 Public administration Mandatory Contributory Pay-as-you-go DB Redistributive Pillar 2 Private administration Mandatory Contributory Fully-funded DC Individual accounts Pillar 3 Private administration Voluntary Contributory Fully-funded DC Individual accounts 7
PENSION SYSTEM Pillar 1 - Public pension system - Implementation of the reform – 2001/2010 - Law No. 19/2000/Law No. 263/2010 - Contribution rates - Employer: 20. 8/25. 8/30. 8 according to working conditions - Employee: 10. 5 - 5. 6 million insured persons - 5. 2 million retirees - 1. 08 dependency rate 8
PENSION SYSTEM Pillar 1 - Public pension system (contd. ) - Pension formula based on points - Old-age, invalidity, survivors pensions - Integration of special pension schemes in Pillar 1 i. e. military, police, parliamentarians etc. - Recalculation of special pensions 9
PENSION SYSTEM Pillar 1 - Public pension system (contd. ) - Social Insurance Budget - National House of Public Pensions – record-keeping, budget execution, calculation and payment of benefits functions - National Agency for Fiscal Administration – collection function (2004, WB approach) 10
PENSION SYSTEM Pillar 2 – Mandatory private pension system - Law No. 411/2004 - September 2007 – starting of recruitment period - Mandatory: below 35 years of age - Voluntary: below 45 year of age - May 2008 – starting of collection - Contribution rate (from 0. 5% up to 6%) - Currently 4. 5 % subtracted from the employee pension contribution - 8 pension funds - 6. 2 million participants 11
PENSION SYSTEM Pillar 2 – Mandatory private pension system (contd. ) - Financial Supervisory Authority – supervision function - National House of Public Pensions – record-keeping function - National Agency for Fiscal Administration – collection function
PENSION SYSTEM • Net assets and participants in Pillar 2
PENSION SYSTEM Pillar 3 – Voluntary private pension system - Law No. 204/2006 June 2007 – starting of recruitment and collection Contribution rate - Maximum 15% (maximum 400 Euro/employee/year deducted in calculating income tax/corporate tax) - 10 pension funds 0. 3 million participants Financial Supervisory Authority – supervision function 14
PENSION SYSTEM • Net assets and participants in Pillar 3
UNEMPLOYMENT INSURANCE SYSTEM - Law No. 76/2002 - Contribution rates - Employer: 0. 5% - Employee: 0. 5% - Active and passive measures - Unemployment Insurance Budget - National Agency for Labor Force Employment 16
HEALTH INSURANCE SYSTEM - Law No. 95/2006 - E. O. No. 158/2005 - Contribution rates - Employer: 5. 2% + 0. 85% - Employee: 5. 5% - Basic health care packet and sickness benefits - Unique National Health Care Insurance Fund - National House of Health Insurance 17
ACCIDENTS AT WORK AND OCCUPATIONAL DISEASES SYSTEM - Law No. 346/2002 - Law No. 263/2010 - Contribution rates - Employer: between 0. 15% and 0. 85% according to risks classes - Medical rehabilitation and vocational rehabilitation, invalidity and survivors pensions - Part of the Social Insurance Budget - National House of Public Pensions – tripartite board 18
SOCIAL ASSISTANCE SYSTEM - Law No. 292/2011 and other specific regulations - Non-contributory - State Budget and/or local budgets - State Inspectorate in the Social Assistance Field and/or the institutions at the local level of authority - Major family benefits - State Allowance for Children - Family Support Allowance - Child-Raising Indemnity/Bonus for Insertion - Placement Allowance 19
SOCIAL ASSISTANCE SYSTEM - Major guaranteed minimum resources benefits - Social Aid Heating Energy Allowance Natural Gas Allowance Solid Fuel or Oil Allowance - Major disability benefits - Indemnity - Complementary Personal Budget - State allowance for Children with handicap - Personal Assistant/Qualified - Day centers - Residential centers 20
GLOBALIZATION IN SOCIAL SECURITY ü No global system of social security Divergent national interests ü European Union solution Open method of coordination Ø Globalization of social difficulties needs globalization of social policies 21
Thank you doina. parcalabu@cdep. ro 22
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