Top PDF CONTRACTING OUT THE PENSIONS SYSTEM IN ROMANIA

We are witness to evolutions of the public sector in the context of changing of states’ roles and institutional structures of the central public administrations, changes of the ratio governors and governed, diversification of the actors involved in policy making and enlargement of the area of public action wherever there is a public need, and, on the other hand, by the effects of decentralization, delegation, privatization etc. (Matei, 2007; Matei, 2008, p. 1). Increased “contracting out, privatization” (Ebbinghaus, 2007; Bennmarker, Grönqvist, Öckert, 2012; Petersen, Hjelmar, Vrangbæk, la Cour, 2012) of old age income security has been advocated as a solution to the sustainability problems of public pension systems, yet private supplementary pensions can take different forms in terms of who participates, whose interests are represented and how the benefits are funded and calculated. So, another issues addressed by this paper and the scholars are the advantages of contracting out. The main argument, in this sense, carried out in fact that private contractors possess the advantage over public organisations, because they have a stronger focus on outcomes. The constraints are imposed by the necessity to earn at least an average return on investment, a more flexible labour force, fewer procedural constraints and more powerful structure of incentives for managers (Hart et al., 1997, pp. 1127– 1161; Shleifer, 1998, pp. 143-150).

The topic chosen as the subject of this work, the equalisation of the guaranteed minimum pensions (GMP) in the United Kingdom (UK), was driven from the circumstance that the UK Pension System at this point in time is dealing with an issue that has been there all along, but was never solved due to its complexities. As a matter of fact GMP inequalities between man and women have existed since members of pension schemes first started to accrue GMP, after being contracted out of State Pension Schemes and contracted into a Private Pension Scheme. This problem came insight after trustees of Lloyds Bank decided to send the case to court in 2018 (WTW, 2018a). Lloyds Judgment brought to light the fact that, yes, GMP between man and women needs to be equalised, however the rest of the process was left to be decided from the pension schemes themselves.

The order presented in chapter 11 called "internal control the internal control objectives, its purpose, requirements and the methods. the regulations sets out the general objectives of the internal control , such as compliance with legislation, application of management decisions, reliability of accounting information, the effectiveness of the entity's operations, efficient use of resources - which are found in one form or another in the laws and orders described above. A new objective shown in art.566 (1) is to prevent and control the risks of failing to meet targets. In this respect there must be a system to identify the main risks of the entity and to analyze them in order to minimize them. These actions are based on a set of procedures for identifying and managing risks. In this respect I believe that to achieve the desired results in the risk management an entity requires to seek internal audit, which has among its objectives the risk assessment.

The reform of the pension system can be politically, ideologically, economicallly and socially influenced, but this thing can not be realized in a short period of time, because it asssumes the adoption of long-time horizon measures and the assesment of their effects. Nowadays, there is encouraged the organization and application of a multi-pillar pension system which guarantees sufficient public funds, as well as private pension funds. It is remarkable the fact that Romania has not registered in the last years major deficits of the public pension system, but it looks like on the long term the deficits are harder and harder to be managed and to be financed. A fair valuation, but simple in the same time of the sustainability of the public pension system in the current financial and economic Romanian context can be made through the analysis of the pension expenditures and of the incomes obtained from the employee’s and employer’s contribution. For the future, if the value of ratio between incomes and expenditures is a positive one, we can consider that, on the medium and long term, the sustainability is ensured; if the value of the ratio is forecasted to be a negative one, therefore we have a deficit of the incomes and an increase in the level of expenditures, it is necessary to be found solutions of financing the system,.

Within the period 2004 - 2006, through the Law no.312/2004, concerning the adoption of the National Bank of Romania articles of association, law no. 253/2004 regarding the final character of the settling up in the payment systems and in the settlement systems, Law no. 278/2004 and Government Ordinance no.10/2004 concerning the judicial reorganization and bankrupt procedure for the credit institutions, Government Emergency Ordinance no. 98/Dec.6 th 2006 concerning the over survey of the financial institutions included in financial conglomerates, the Romanian banking system development went on. By means of the above mentioned regulations, the main responsibilities of NBR were established, the Credit Office became operational in August 2004 and the judicial reorganization and bankruptcy procedure of the credit institutions were established, as well as the over survey of the financial institutions included in financial conglomerates. Other projects carried out during the same period were: implementing the provisions of the New Agreement of Capital – Basel II, whose most important objectives were the assurance of a more flexible framework, in order for the capital needs establishment to coincide with the credit institutions risk profile and premises creation for the financial-banking system stability funding, ReGIS, SaFIR and SENT systems development for the central bank operations, inter banks transfers, payments in LEI, settling up in real time and with an

By 17 November 2005, Emergency Ordinance no. 158/2005 was published on medical leaves of social health insurance, so CNAS took over from 01.01.2006, a task that for years belonged to the National House of Pensions and Insurance. The appearance of the Order no. 60/32/2006 for approval of the Normas for the application of Government Emergency Ordinance no. 158/2005 on medical leaves of social health insurance is a logical step forward. Since 2006 the health insurance system is preparing for significant changes, the Romanian Parliament approved the package of laws on healthcare reform, Law no. 95/2006. With a health budgets at a minimum the last nine years, only 3,2% of GDP, down 20% over last year, Romanian health system is comparable only to that of the poorest countries of the word and the collapse seems to be imminent in 2010, without additional funding, says a report of the Romanian Academic Society.

In Romania, the establishment of the market economy has required the elaboration and implementation of agricultural, alimentary and nutritional policies, based on scientific criteria, to ensure that the structure of Romanian agriculture would come close to that of the European Union agriculture. Agricultural policy needs to be coherent, flexible and directed towards the economic, social and environmental protection performance. Worldwide practice shows that empiric experience of economic agents does not suffice, but requires plenty of scientific knowledge. The hereby study undertakes to carry out a radiography of the production potential of agricultural operations in Romania and to demonstrate the need for improving practical information systems in agriculture and specialized industry.

  The Romanian government priorities were job creation and helping those who have been hurt by the economic  downturn. In order to stimulate employment and reduce the unemployment rate, in February  , our Government  adopted an ordinance of exemption for a period of   months payments for social contributions for those employers  which employ for at least   year unemployed persons, which have been unemployed for at least   months. This  measure  aims  at  employing  almost  ,   persons,  according  to  an  estimation  made  by  the  Ministry  of  Public  Finance with the Labor Ministry. According to a Government press release, the total number of employees, as a result  of GEO  / , on   June was  ,  and the number of employers who have benefited of GEO  /  was  , .    Secondly, another type of current expenditures on which Romania is spending very much is on pensions. Last  year, total expenditures on pensions represented   billion lei, meaning  . % of GDP and  % of the state revenues.  According to Labor Ministry statistics, the total number of pensioners of the state social security system, including  paying farmers in   was  .  million people, while the total number of contributors to public pension system did  not exceed, at that time  .  million people, leading to a dependency ratio for the public pension system of  .  for  retired to   taxpayer. In  , total annual pension expenditure in Romania was about   billion RON, the largest  budget expenditure category, its share in gross domestic product being  %. Thus, the pension fund budgetary deficit  was about €  .  billion  about   billion dollars  and was financed from the state budget,  while for   the deficit is  estimated at €  .  billion. For   were alocated  .  billion RON for pensions, which represent  . % of GDP. The  public  pension  system  in  Romania, as  in many other countries,  has  felt  the  impact of  demographic  changes,  like  population  ageing.  This  is  why  measures  taken  now  by  the  Romanian  government  to  reform  the  actual  pension  system have to cover long‐term objectives. Some recommendations from international financial institutions  were:  indexing pensions to inflation, increasing the retirement age and equality for men and for women, as well as reducing  early retirement.  

The cash accounting system for VAT has been implemented in Romania as of 1 January 2013 and now turns one year of application in Romania. Since its implementation the system has sparked controversy, being harshly criticised by professional accountants in Romania and elsewhere. Criticisms mainly concerned the following issues: no possibility to choose to apply the system, breach of the VAT neutrality principles, maximum period of 90 days to postpone the chargeability of VAT for unpaid deliveries, while VAT deduction was subject to payment of the value of goods and services invoiced without specifying any term. In this article we would like to examine the extent to which the legislative changes that came into effect as of 1 January 2014 improve the cash accounting system for VAT in Romania. We will also analyse to what extent the system applied in 2013 has brought advantages/disadvantages to the economic entities in Romania based on a survey carried out on a heterogeneous sample of companies in the county of Gorj, regarded as nationally representative. Finally, we intend to compare the cash accounting system for VAT in Romania with its UK counterpart.

The quality of persons’ life represents a consequence of the simultaneous actions of more influence factors out of which: health, education, personal actions, government and political environment, social relations, environment conditions, etc. Health represents certainly the most important influence factor of persons’ life quality. The crisis of the sovereign with which deals many of the EU member countries continue to impose the adaptation of some difficult austerity measures which certainly will also point out the influence over the health sector. Consequently, there is imposed the identification of some resources allocation optimal measures concerning the diminution of the negative effects which are to be also felt at the level of the medical services.

A. The Agent Theory, that focuses on the need for managers to be monitored by the shareholders in order to prevent any opportunistic conduct of the former (Fama, 1980; Jensen and Meckling, 1976; La Porta et al., 1999; Nicholson and Kiel, 2007). The agent theory approaches the dominant elements of the relationship between the owners of the company, i.e. the providers of capital (called principals) and the managers of the companies (called agents). Therefore, some of the issues addressed by the agent theory focus on the following aspect: the managers, as legal advocates of the investors, have the obligation to augment the profits to the benefit of the latter but, if their goals are in conflict, the agents can choose to maximise their own personal benefits. The phenomenon has also been analysed by Berle and Means (1932), the first researchers who have grasped the factors we eventually came to know as lack of management ethics, i.e. a situation when managers knowingly deceive. The phenomenon was later analysed by Jensen and Meckling (1976) who have predicted and studied the opportunistic behaviour of managers and their proneness to pursue their own interests against the best interest and at the expense of the company they work for. The recent developments in the corporate environment have validated the aforementioned predictions as general truths and there’s no further need for academic evidence to support this concept. Professional literature provides an example in this respect, namely the granting of very generous indemnities. Both American and British professionals believe that this particular factor (extremely generous salaries for the management) relates corporate bankruptcy to the failure of corporate governance. The specific case of WorldCom may be quoted here, a company that has lent Bernard Ebbers, its executive manager, the amount of $5 billion. Another popular example in economics is that involving the compensations granted by Enron to its executive managers between 1998 and 2000, amounts that have augmented from $103 million to $1.4 billion during these two years (a seven fold rise), a situation that had occurred a year before the company went bankrupt.

___________________________________________________________________________ Abstract. Food safety is one of the main problems related to food production and processing. The control of food contamination hazards in relation to physical, chemical and biological risks must occur during all phases of the production process, that is, from the acquisition of the raw material to the production of the final product that arrives at the consumer's table. Food industries need an effective quality system to exercise quality control at all stages of production. The Hazard Analysis and Critical Control Points (HACCP) system stands out today as the most important quality control system in the food industry, capable of identifying the likely risks of contamination within a specific process and the measures preventive measures to control them, aiming at food safety.

IEEE standard images for different number of ASCII characters. Tables 1-2 indicate the PSNR values for various Stego-images of size 256 x 256 using the proposed techniques, calculated for 1500 characters. We conducted further experiments with the Lena image using more characters. Table 2 indicates the PSNR values for the Lena image calculated for up to 1997 characters using the three suggested techniques. Thus, using the proposed method, up to 1997 characters (or 15,976 bits) have been embedded in a 256 x 256 pixel image. This shows that, 12.5% of the image pixels are used to embed 15,976 bits and yet the perceptual quality of the stego-image is still high. The PSNR of the third method can be controlled depending on number of bits being stored in various positions. Considering a minimum of 34 dB PSNR threshold for stego-image perceptual quality [11] It is clear from the obtained PSNR values that the proposed technique can generate stego-images with good perceptual quality. For qualitative assessment, , Figures 11(a), 11(b) show the Baboon image before and after steganography using the proposed technique for 500 characters. Figures 12(a) and 12(b) show the Lena image using the proposed technique, for 1997 ASCII characters.

Abstract: High hydrocarbon resource potential makes the Russian Arctic an attractive region for major oil and gas producing companies. Any investment decision is commonly based on an assessment stage which includes various types of technical and economical evaluations. Transportation cost in the Russian Arctic drastically influences overall project economics. Thus accurate method for transportation cost assessment becomes important from early stages of project definition. Infrastructure in the Russian Arctic is poorly developed so conventional estimation methods of hydrocarbon transportation tariff are ineffective. This paper describes a cost estimation method for tanker transportation of oil which considers key features of operations in the Russian Arctic.

Objective: to understand the existential experience of children undergoing chemotherapy on the importance of playing. Methods: qualitative research performed in the outpatient clinic of a teaching hospital with five children undergoing chemotherapy. Data were collected through the interviews and analyzed in the light of the Humanistic Nursing Theory. Results: the discourses revealed the children’s understanding of their illness and their treatment, evidencing the deprivations experienced by them and the situation of emotional imbalance. Playing, according to the children’s reports, elicited positive feelings and represented a way for time to pass faster. Conclusion: the chemotherapy treatment was considered ambiguous, being an unpleasant experience, but necessary for cure. The games in the outpatient chemotherapy service were a viable tool to deal with the discontent before the situation lived, provoking positive feelings such as happiness and satisfaction.

The introduction of technical progress in the Romanian agriculture relies heavily on the skills and education of the agricultural workforce as well as on the availability of information, credit and markets. Rural labour markets are largely markets for unskilled labour where supply comes from workers with little formal education or training, generating low productivity, low wages and weak bargaining. On the Romanian labour market, important educational disparities are also present. Data in figure 12 on the share of the employed population with higher education of total employment emphasises that the gap between urban and rural at national level, as well as regional level, is significant, in the urban area, there being a much higher share of the employed population with higher education. It is extremely important for the Romanian higher education system to “correlate the graduates number with the number of work places in the Romanian economy, and take into account the necessities imposed by the participation at international competition” [25].

The responsibility centres can be defined as a set of the elements dependent between them, which for an organised whole, having a high degree of autonomy in the use and optimization of available resources (Rusu & Voicu, 2001, p. 15). If a centre has only costs or expenses, it is called cost centre, being considered the organisational link where products/services are obtained. Similarly, the revenue centre represents the organisational link where the activity is assessed according to income. If the manager is responsible both for the income and for the expenses of a department, section, etc., then there is the profit centre. Another category is the investment centre, which involves responsibilities regarding the relation between the obtained income and investments. A novelty is the performance centres which ensure the improvement of the entire performance management system. Basically, the aim is to ensure, through the implementation of the performance centre, an increased performance through a rational use of resources and an increased quality of products and services, productivity of work and a continuous improvement of labour conditions within the company (Petrescu, 2003, p. 75). In another vision, a performance centre is the centre that may change a result of peoples’ labour into an exceptional, top one, with genuine competitive chances of success and on the market. A source of inspiration for such a structure are the performance indicators through which the organisation may come on the market and the business processes through which these indicators can be put into practice (Bogdan, 2005, p. 44).

Development of information technologies and communication in a public sector have to pay more attention to the complexity in its implementation rather than focusing on best practice and strategies which are universal to prescribe how successfully applied Electronic Government program. As a result of advanced civilization for conducting residents of the state of being high-profile figures in the service in the era of democracy. Due to existence of interaction in the form of consultations will find a pattern, approaches such as what is appropriate to the needs of the community in exercising the functions of participation to the state. Based on the results of research on public services in the context of democratic consultation. Look about how the process of consultation with citizens. At the end result appears that the consultants who holds the project activities which implement electronic government that coupled with the community members who said that if the process of consultation having no democratic value. Certainly, it is negative in the development of democracy in the region licensing office, where community involvement not be used as reference to build an understanding together in achieving common interests in accordance with the concept of new public service. Criticism of the statement above , delivered by George (2002) that the failure of the process of the interaction between citizens with the government is located on the level of bureaucracy that is not acceptable to open direct communication. Given only communication with the use of symbols and an intermediary. Statement above supported by Robbins (2005) that stiff of a bureaucracy that has become part the past, of communications for interaction are the dominant choice for in the success of a form of service. All stiffness will perish along

Each Contracting Party, recognizing that technology includes biotechnology, and that both access to and transfer of thechnology among Contracting Parties are essential elements for the a[r]

The first stage of manufacturing the casting mould was the creation of a gear wheel 3D-CAD model. Next, the gear model was supplemented with a gating system. The mould shape and its parting plane were defined. The last operation was the removal of the gear wheel model and the gating system from the mould solid. This way, a