Abstract:
Abstract
In recent years is being emphasized the importance of retirement planning not only during the accumulation period, when the individuals increase their wealth which would serve as a financial shield during their post retirement period, but also during the decumulation period which would permit to the individuals the right management of pension investment returns.
In addition, the governments around the world have continuously been increasing their pension public expenditures bearing the risk of a higher public debt; in addition, many individuals suffer from penury at old age which primarily comes as an insufficiency of retirement savings. This thesis aims to provide an in depth-look of the pension systems and the retirement plans which are used and the well-functioning of the welfare states. Moreover, the pension systems of three different countries such as Italy, United Kingdom and Albania will be analyzed starting from their most important macroeconomic and demographic factors which influence the pension systems policies and employees’ retirement plan choices.
