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The Determinants of Pension Switching: Empirical Evidence for Romania

Currently, in the post-communist Central and East European Countries, an intricate debate regarding the survival of their multi-pillar pension systems is needed.The authorities in the field search for solutions to protect individuals after retirement. Using a self-designed questionnaire and a related national survey conducted in 2010 for the Romanian major urban population, assigned to mandatory private pension funds, we analyse the socio-economic and demographic determinants for the decision to transfer from one fund to another. We find the reputation of the pension fund and the age of the respondents as determinants for the decision to switch the private pension fund in our binary logit model. Younger persons are more susceptible to switch the private pension funds.