Document Type : Original Research Paper

Authors

• T. Jalili ¹
• R. Moslemi ²

¹ Department of Business Management, Insurance Management, Allameh Tabatabai University, Tehran, Iran

² Department of Theoretical Economics, Allameh Tabatabai University, Tehran, Iran

Abstract

The life of the youngest pension systems in the world and in our country has been over 30 years, and due to global developments and the failure to fulfill the assumptions of the establishment of these funds, there are many risks facing these plans. Multi-layer systems are recognized as the best approach for pension reforms in most countries of the world. Fortunately, in our country, the establishment of a multi-layer pension system is foreseen in the law of the fifth development plan. The private sector is also allowed to create pension funds and compete with other sectors. However, if the necessary prerequisites are not present, the implementation of these reforms is definitely doomed to failure. The purpose of this research was to identify and prioritize the factors facilitating the implementation of the multi-layer pension system. In order to find out the significance of the identified factors, two non-parametric binomial test methods and exploratory factor analysis have been used. Factor analysis was used to group 43 identified variables and Friedman's test was used to prioritize these factors. The results of the research show that among the endogenous factors, the financial stability of the new system and the strengthening of the governing board, and among the exogenous factors, the specific conditions of the country and the macroeconomic conditions, are known to be the most important factors that facilitate the implementation of the multi-layer system.

Keywords

• Pension Reform
• Multi-pillar Pension System
• Private Pension
• exploratory factor analysis