pension reversals in central and eastern...
TRANSCRIPT
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Pension Reversals in Central and Eastern EuropeOctober 30th, 2019
Agnieszka Chłoń-DomińczakSGH Warsaw School of Economics
Pensions Core Course
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Cycle of pension system changes in CEE countries
From transition to enlargement:
towards convergence to
market economy
EU accession and post-accession: rebalancing the pension systems
Shift back to PAYG after financial and
economic crisis
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Pension reforms in CEE countries• Economic and social transition:
– Reduced employment and rising unemployment in early 1990s– Rising costs of pension systems, widespread early retirement– Demographic change: sharp drop in fertility rates causing fast population
ageing in the future
• Pension reforms:– Changes in the PAYG pillar: from parametric reforms (rising retirement
age, lower indexation or accrual rates) to paradigmatic reforms: introducing NDC schemes
– Changes in pension financing: introducing multi-pillar schemes
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Selected features of pension systems in 8 CEE countriesPublic
pensionscheme
Retirement age
Mandatoryfunded
contributions(iniital)
Enactmentdate Who participates
Bulgaria DB 60/55 63/60 65 + life exp 2% 5% 2002
Mandatory for all workers
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Evolution of legal retirement age: convergenceand equalisation
Source: Ageing Report 2018
Male
Female
2016
2030
2050
2016
2030
2050
Bulgaria
65
67
67
65
67
67
Czechia
63.1
65
65
60.5
64.7
65
Estonia
63
65
65
63
65
65
Croatia
65
65
67
61.5
65
67
Latvia
62.8
65
65
62.8
65
65
Lithuania
63.3
65
65
61.7
65
65
Hungary
63.1
65
65
63.1
65
65
Poland
65
65
65
60
60
60
Romania
64.8
65
65
60.4
63
63
Slovenia
65
65
65
63
65
65
Slovakia
62
64.2
67.3
60.2
64.2
66.8
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CEE countries finance social protection mainly from contributions
Sources of financing social protection in 2016
Socialcontributions
General government
contributions
Otherreceipts
EU28 54,5 40,4 5,1RO 69,8 29,3 0,8LT 75,6 23,6 0,8HU 69,5 30,5 0,0PL 67,2 18,9 13,9SI 68,2 30,6 1,2SK 68,2 28,9 2,9EE 78,9 21,0 0,1CZ 73,9 24,7 1,4LV 57,3 42,1 0,6HR 58,7 38,5 2,8BG 52,1 46,3 1,6
Change in financing distirubitonbetween 2005 and 2016
29/10/19 6
-20.0 -10.0 0.0 10.0 20.0
EU28ROLT
HUPLSI
SKEECZLVHRBG
Social contributions General government contributions
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Old-age pension expenditure important part of the social protection system in CEE
Source: ESSPROS database
Share of pension expenditure in total social protection expenditure in 2016
Old-age pension expenditure as percentage of GDP, 2005, 2009 and 2016
2005
2008
2010
2016
EU28
38,6
39,4
39,1
40,1
BG
46,5
45,0
46,6
44,5
CZ
37,3
40,3
41,8
43,7
EE
43,1
42,3
43,6
41,5
HR
31,1
30,8
34,2
LV
45,6
43,0
51,3
47,8
LT
42,2
41,0
40,4
43,0
HU
36,5
39,4
40,3
44,5
PL
47,6
47,3
47,6
46,4
RO
39,9
46,2
46,3
50,3
SI
42,4
38,5
39,5
41,9
SK
39,1
37,1
37,5
40,1
2005
EU-28BGCZEEHRLVLTHUPLROSISK5.45.74.09999999999999966.12710636294121175.099999999999999656.16.64.90000000000000046.35.52009
EU-28BGCZEEHRLVLTHUPLROSISK9.16.26.65.96.14496502221059257.17.36.76.87.15.95.82016
EU-28BGCZEEHRLVLTHUPLROSISK9.69999999999999936.56.94.90000000000000045.65610038104851136.65.4786.76.76.3
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At risk of poverty rate of people 65+ in CESE countries
18.3 18.4 19.1 18.9 17.9 16.0 15.9 14.5 13.7 13.7 14.1 14.6 15.0
19.923.9
33.8
39.3
32.2 31.228.2 27.9
22.6
31.7
24.3
32.0 BG
5.3 5.9 5.57.4 7.2 6.8 6.6 6.0 5.8 7.0 7.4
8.110.7 CZ
20.325.1
33.2
39.0
33.9
15.113.1
17.2
24.4
32.635.8
40.2 41.2 EE
21.1
30.4
35.6
52.047.6
17.2
9.113.9
17.6
27.6
34.638.1 39.9 LV
17.0
22.0
29.8 31.0
23.9
9.6 9.7
18.7 19.4 20.1
25.027.7
33.4 LT
6.59.4
6.1 4.3 4.6 4.1 4.96.3 4.6 4.5 4.6
6.89.1 HU7.3 7.8 7.8
11.714.4 14.2 14.7 14.0 12.3 11.7 12.1 12.8
13.8 PL
29.426.5
21.417.6
14.8 14.4 14.5 15.719.4 19.1 20.0 RO20.3 19.9 19.4
21.3 20.0 20.2 20.9 19.6 20.517.1 17.2 17.6 16.4 SI
7.1 8.5 8.59.9 10.8
7.7 6.3 7.8 6.0 6.2 5.6 5.7 6.9 SK
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
European Union Bulgaria Czechia EstoniaLatvia Lithuania Hungary PolandRomania Slovenia Slovakia
Source: EU-SILC (Eurostat)
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Old-age dependency rate23
.7
21.0 2
6.9
26.3 3
1.5
27.5 29.0 30.5
29.7
28.1
28.1 29
.9
62.2
56.8
56.2
52.8 56
.2
52.0
53.1
53.8
52.7
50.2
49.7 52
.2
PL SK HR RO BG HU LT LV EE SI CZ EU 27
2016 2070
Source: Ageing Report 2018
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Changes in funded DC schemes after 2008
Reversals
Bulgaria No change in contribution level. From 2015, Funded scheme opt-out and opt-in system, but no significant impact on participation.
Estonia
Temporary reduction with off-set. 6% contribution rate cut to 0% between June 2009 and January 2011 and shifted to PAYG. Gradual increase from 2011. Rate set at 3% in January 2011 and 6% in January 2012. In 2014-2017 at 8% (2+6) to offset missed contributions. An optional increase of employee contribution to 3% in 2014-2017 (18% of insured followed this option). Considerations to make the funded scheme voluntary
Latvia Partial reduction.8% contribution rate reduced to 2% in May 2009. Rates increased to 4% from 2013
Lithuania
Partial reduction.5.5% contribution rate reduced to 2% in July 2009. Rates further lowered to 1.5% in January 2012 and 2.5% in 2013. Change to 3% (2%+ 1%) January 2014, voluntary participation. Additional contribution at 2% in 2016-2019. From 2020 the part of social insurance contribution will increase to 3.5 percent (3.5%+2%+2%). More than 400,000 participate according to the two-percent scheme and the same number according to the two percent + two percent + two percent scheme. About 25,000 have chosen to terminate pension accumulation in the private pension funds
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Changes in funded DC schemes after 2008
Reversals
Hungary Permanent reversal.Contribution rate reduced to 0% in January 2011 assets transferred to the mandatory PAYG system.
Poland
Permanent reduction and partial reversal.Contribution rate reduced to 2.3% in May 2011. From February 2014 contribution at 2.92%, in February 2014 assets invested in government bonds transferred to PAYG scheme and redeemed. In 2014 system made opt-out and opt-in in specified time slots. Assets from FF transferred gradually to PAYG 10 years prior to retirement. 2019 – proposal to transfer FF savings to voluntary accounts (with 15% fee) – default or NDC account, introduction of employer-based employee capital plans (PPKs) from July. 2019, financed from additional contributions of employees and employers
Romania
Temporary reduction.Slowing the planned increase path of contribution rate from 2% to 6%. Rate froze at 2%, started to increase from 2011 at annual rate of 0,5pp to 5% in 2015, then 5.1% in 2016 and 6% from 2017 onwardsDiscussion to reduce the FF contribution to 1%
Slovakia Permanent reduction.9% contribution reduced to 4% in 2013. Funded scheme opt-out and opt-in system.
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IS IT ABOUT THE PERFORMANCE, FEES OR FISCAL ISSUES?
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Fees40-years charge ratio for average fees in CESE countries, % of accumulated assets
Source: (Han & Stańko, 2018; Ionescu & Robles, 2014)
2008 2012/2013 2018Bulgaria 26.51% 26.51% 21.5%Croatia 22.21% 11.74% n.aEstonia n.a. 31.56% n.aHungary 22.57% 5.93% n.aLatvia n.a. 39.59% n.aLithuania n.a. 22.72% n.aPoland 18.74% 14.35% 13.8%Romania n.a. 16.10% n.a.Slovakia 19.03% 19.17% 19.0%
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Investment returns in CEE funded pensionpillars (end of
2013)
Country Type of funds Calculated Durationsince accumulated till 2012 average p.a. (in years)
Bulgaria mandatory pfs 1.07.2004 -17,67 -2,06 9,33 Estonia all funds 2.07.2002 -1,01 -0,10 10,50
conservative 2.07.2002 -9,14 -0,91 10,50 balanced 2.07.2002 -9,62 -0,96 10,50 progressive 2.07.2002 3,52 0,33 10,50 aggressive 1.01.2010 4,92 1,61 3,00
Latvia conservative 7.01.2003 -11,54 -1,22 10,00 balanced 7.01.2003 -15,29 -1,65 10,00 aggressive 7.01.2003 -16,22 -1,75 10,00
Lithuania conservative 15.06.2004 -7,56 -0,84 9,38 stable 15.06.2004 0,03 0,00 9,38 balanced 15.06.2004 -1,99 -0,21 9,38 aggressive 15.06.2004 -7,72 -0,85 9,38
Hungary classic 1.01.1998 n/appl. 3,39 7,25 conservative 22.03.2005 35,66 2,05 15,00 balanced 22.03.2005 28,73 1,70 15,00 growth 22.03.2005 11,81 0,75 15,00
Poland mandatory pfs 1.09.1999 110,48 5,74 13,33 Romania mandatory pfs 21.05.2008 29,80 5,97 4,50 Slovak Rep. conservative 22.03.2005 -3,21 -0,42 7,75
balanced 22.03.2005 -10,33 -1,40 7,75 aggressive 22.03.2005 -11,96 -1,63 7,75 indexed 2.04.2012 1,31 1,75 0,75
Real rate of return (%)
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Transition costs• Transition costs gradually increasing due to the increased contributions
and/or higher coverage of the mandatory pension system due to the newentrants (BG, EE, RO)
• Reversals/reductions led to temporary (EE) or permanent decline of transitioncosts:– 2009: LV, LT– 2010: EE, BG– 2011: HU, PL– 2013: SK
Source: Bielawska et al. (2018) with updates
multivariate
countrygg deficitgg debt transition costyeargg spendingsocial spendingemployment rateBGEELVLTHUPLROSK
BG-0.572.5200041.351.510.00.00.00.00.00.00.0
BG1.166.0200140.650.710.00.00.00.00.00.00.0
BG-1.252.4200239.651.110.00.00.00.00.00.00.0
BG-0.444.4200339.153.110.00.00.00.00.00.00.0
BG1.937.0200438.655.110.00.00.00.00.00.00.0
BG1.027.50.7200537.37.655.810.00.00.00.00.00.00.0
BG1.921.60.8200634.47.258.610.00.00.00.00.00.00.0
BG1.217.21.1200739.26.961.710.00.00.00.00.00.00.0
BG1.713.71.1200838.47.064.010.00.00.00.00.00.00.0
BG-4.314.61.1200941.48.862.610.00.00.00.00.00.00.0
BG-3.116.21.0201037.49.259.710.00.00.00.00.00.00.0
BG-2.016.31.1201135.68.758.410.00.00.00.00.00.00.0
EE-0.25.10.0200036.16.660.3010.00.00.00.00.00.00.9105784578
EE-0.14.80.0200134.85.960.8010.00.00.00.00.00.0
EE0.35.70.0200235.85.961.7010.00.00.00.00.00.0
EE1.75.60.4200334.85.962.3010.00.00.00.00.00.0
EE1.65.00.6200434.06.062.9010.00.00.00.00.00.0
EE1.64.60.7200533.65.964.4010.00.00.00.00.00.0
EE2.54.40.7200633.65.968.1010.00.00.00.00.00.0
EE2.43.70.8200734.05.869.4010.00.00.00.00.00.0
EE-2.94.50.5200839.77.169.8010.00.00.00.00.00.0
EE-2.07.11.1200944.79.063.5010.00.00.00.00.00.0
EE0.26.70.1201040.58.961.0010.00.00.00.00.00.0
EE1.16.10.4201137.58.065.1010.00.00.00.00.00.0
LV-2.812.40.0200037.69.657.400.010.00.00.00.00.00.3912007236
LV-2.014.10.1200135.08.758.900.010.00.00.00.00.0
LV-2.313.60.2200236.08.360.500.010.00.00.00.00.0
LV-1.614.70.4200334.97.561.700.010.00.00.00.00.0
LV-1.015.00.4200435.96.962.200.010.00.00.00.00.0
LV-0.412.50.6200535.86.463.300.010.00.00.00.00.0
LV-0.510.70.7200638.36.266.300.010.00.00.00.00.0
LV-0.49.01.0200736.05.368.300.010.00.00.00.00.0
LV-4.219.81.1200839.16.068.600.010.00.00.00.00.0
LV-9.836.90.1200943.78.460.900.010.00.00.00.00.0
LV-8.144.40.1201043.410.059.300.010.00.00.00.00.0
LV-3.441.90.1201138.48.660.800.010.00.00.00.00.0
LT-3.223.60.0200039.87.859.600.00.010.00.00.00.00.9821496927
LT-3.523.00.0200137.57.258.100.00.010.00.00.00.0
LT-1.922.20.0200235.46.960.600.00.010.00.00.00.0
LT-1.321.00.0200333.86.762.800.00.010.00.00.00.0
LT-1.519.30.3200434.06.661.400.00.010.00.00.00.0
LT-0.518.30.4200534.06.562.600.00.010.00.00.00.0
LT-0.417.90.6200634.26.363.600.00.010.00.00.00.0
LT-1.016.80.9200735.36.664.900.00.010.00.00.00.0
LT-3.315.51.1200837.97.464.300.00.010.00.00.00.0
LT-9.429.30.6200944.99.660.100.00.010.00.00.00.0
LT-7.237.80.3201042.38.557.600.00.010.00.00.00.0
LT-5.538.30.4201138.77.760.200.00.010.00.00.00.0
HU-3.056.10.5200047.88.755.900.00.00.010.00.00.00.4395119053
HU-4.152.70.5200147.88.756.100.00.00.010.00.00.0
HU-9.055.90.5200251.58.956.200.00.00.010.00.00.0
HU-7.358.60.7200349.79.257.000.00.00.010.00.00.0
HU-6.559.50.8200449.19.356.600.00.00.010.00.00.0
HU-7.961.71.0200550.19.856.900.00.00.010.00.00.0
HU-9.465.91.0200652.210.057.300.00.00.010.00.00.0
HU-5.167.01.2200750.710.557.300.00.00.010.00.00.0
HU-3.773.01.2200849.211.056.700.00.00.010.00.00.0
HU-4.679.81.4200951.412.055.400.00.00.010.00.00.0
HU-4.482.21.1201050.011.055.400.00.00.010.00.00.0
HU4.382.10.0201150.011.155.800.00.00.010.00.00.0
PL-3.036.81.0200041.112.655.100.00.00.00.010.00.00.1567317133
PL-5.337.61.1200143.813.653.700.00.00.00.010.00.0
PL-5.042.21.2200244.313.751.700.00.00.00.010.00.0
PL-6.247.11.2200344.713.851.400.00.00.00.010.00.0
PL-5.445.71.1200442.613.351.400.00.00.00.010.00.0
PL-4.147.11.3200543.412.752.800.00.00.00.010.00.0
PL-3.647.71.4200643.912.554.500.00.00.00.010.00.0
PL-1.945.01.4200742.211.657.000.00.00.00.010.00.0
PL-3.747.11.6200843.211.659.200.00.00.00.010.00.0
PL-7.450.91.6200944.611.959.300.00.00.00.010.00.0
PL-7.954.91.6201045.412.058.900.00.00.00.010.00.0
PL-5.056.21.0201143.411.659.300.00.00.00.010.00.0
RO-4.722.50.0200038.66.17.500.00.00.00.00.010.00.7866392369
RO-3.525.70.0200136.26.27.400.00.00.00.00.010.0
RO-2.024.90.0200235.06.77.400.00.00.00.00.010.0
RO-1.521.50.0200333.56.07.300.00.00.00.00.010.0
RO-1.218.70.0200433.66.27.400.00.00.00.00.010.0
RO-1.215.80.0200533.66.27.500.00.00.00.00.010.0
RO-2.212.40.0200635.56.07.400.00.00.00.00.010.0
RO-2.912.80.0200738.26.47.300.00.00.00.00.010.0
RO-5.713.40.2200839.37.67.200.00.00.00.00.010.0
RO-9.023.60.3200941.19.48.500.00.00.00.00.010.0
RO-6.830.50.3201040.19.48.400.00.00.00.00.010.0
RO-5.534.70.4201139.59.28.300.00.00.00.00.010.0
SK-12.350.30.0200052.164.256.300.00.00.00.00.00.010.7469453037
SK-6.548.90.0200144.563.356.700.00.00.00.00.00.01
SK-8.243.40.0200245.158.656.500.00.00.00.00.00.01
SK-2.842.40.0200340.158.757.900.00.00.00.00.00.01
SK-2.441.50.0200437.758.756.700.00.00.00.00.00.01
SK-2.834.20.6200538.057.657.700.00.00.00.00.00.01
SK-3.230.51.1200636.558.859.400.00.00.00.00.00.01
SK-1.829.61.2200734.258.860.700.00.00.00.00.00.01
SK-2.127.91.2200834.959.062.300.00.00.00.00.00.01
SK-8.035.61.2200941.658.660.200.00.00.00.00.00.01
SK-7.741.01.2201040.058.858.800.00.00.00.00.00.01
SK-4.943.41.2201138.458.559.300.00.00.00.00.00.01
decomposition of transition
200020012002200320042005200620072008200920102011201220132014201520162017totalSum of transition cost 2001 or reform start to 2012
BG0.60.50.60.70.81.11.11.110.90.91.31.11.31.314.3PL17.4Poland 2001-2015
EE0.00.40.60.70.70.80.51.10.10.40.91.41.81.92.013.2BG (2002)13.0Bulgaria2002-2015
LV0.10.20.40.40.60.711.10.10.10.10.10.50.50.81.17.8EE (2003)11.2Estonia2002-2015
LT0.30.40.60.91.10.60.30.40.40.40.50.50.87.2SK (2005)10.7Slovakia2005-2015
HU0.50.50.50.70.8111.21.21.41.19.9HU 9.9Hungary2001-2010
PL1.01.11.21.21.11.31.41.41.61.61.61.00.50.70.50.20.20.217.6LV6.7Latvia2001-2015
RO0.20.30.30.40.50.711.21.35.9LT (2004)6.4Lithuania2004-2015
SK0.61.11.21.21.21.21.21.10.60.60.60.711.4RO(2008)4.6Romania2008-2015
HR0.91.11.11.21.21.21.31.41.41.41.51.51.51.51.51.519.6
OA expendiutre
BG6.66.46.16.47.37.77.27.17.67.97.86.5
EE5.95.45.45.45.55.35.35.16.17.87.66.76.56.56.57.14.9
LV8.37.67.26.45.85.45.14.55.17.59.27.97.67.57.27.26.6
LT6.66.15.85.65.55.45.25.96.38.37.36.66.86.46.76.65.4
HU6.96.97.47.47.37.77.88.28.78.88.99.19.79.69.18.77.0
PL6.67.17.27.26.96.66.76.36.46.86.96.97.47.97.98.08.0
RO5.25.35.75.15.35.25.15.56.47.97.97.87.57.37.37.26.7
SK6.06.06.16.26.06.15.95.85.66.76.66.66.87.07.37.36.3
HR6.36.15.95.65.66.15.95.96.06.26.05.85.7
GG debt
BG72.566.052.444.437.027.521.617.213.714.616.216.318.517.127.026.729.6
EE5.14.85.75.65.04.64.43.74.57.16.76.19.89.910.49.79.2
LV12.414.113.614.715.012.510.79.019.836.944.441.940.639.140.836.440.3
LT23.623.022.221.019.318.317.916.815.529.337.838.340.538.840.742.739.9
HU56.152.755.958.659.561.765.967.073.079.882.282.179.876.876.275.375.9
PL36.837.642.247.145.747.147.745.047.150.954.956.255.656.050.551.154.250.6
RO22.525.724.921.518.715.812.412.813.423.630.534.737.938.039.838.437.3
SK50.348.943.442.441.534.230.529.627.935.641.043.452.455.053.952.951.8
HR35.536.536.638.140.341.238.637.239.048.357.363.869.480.484.083.780.2
old-age savings decline20012002200320042005200620072008200920102011201220132014201520162017
BG000000.20.30000.50.1000.11.3
EE0.50000.200.2000.10.40.20.00.00.02.0
LV0.10.20.40.40.40.30.60000.10.10.10.300.6
LT0.50.30.20.10.10.20000.30.400.400.10.8
HU0000.1000000000.10.50.41.7
PL0000.30.300.40000000000.1632258716
RO000.600.10.100000.10.30.200.10.5
SK0000.200.20.10.200.1000000.7
00000.20.30.30.00.00.20.00.00.00.20.20.2
gg debt decline (current taxes)
BG0.00.60.50.60.70.60.81.10.00.00.00.01.30.00.30.0
EE0.00.00.10.60.40.20.60.00.00.00.00.00.00.00.70.0
LV0.00.00.00.00.20.40.40.00.00.00.00.00.40.00.80.0
LT0.00.00.00.20.30.40.91.10.00.00.00.00.00.00.00.0
HU0.50.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
PL0.00.00.00.80.00.01.00.00.00.00.00.50.00.00.00.0
RO0.00.00.00.00.00.00.00.00.00.00.00.00.00.01.10.80.0
SK0.00.00.00.00.60.90.91.00.00.00.00.00.00.60.60.0
0.00.00.00.00.00.90.90.00.00.00.00.00.00.00.31.3
gg debt contribution (residudal)
BG0.00.00.00.00.00.00.00.01.11.00.40.80.01.10.90.0
EE0.00.00.30.00.10.50.00.51.10.00.00.71.41.81.20.0
LV0.00.00.00.00.00.00.01.10.10.10.00.00.00.20.00.5
LT0.00.00.00.00.00.00.00.00.60.00.00.40.00.50.40.0
HU0.00.50.70.71.01.01.21.21.41.10.00.00.00.00.00.0
PL1.11.21.20.01.01.40.01.61.61.61.00.00.70.50.20.20.0
RO0.00.00.00.00.00.00.00.20.30.30.30.20.51.00.00.0
SK0.00.00.00.00.00.00.20.01.21.11.21.10.60.00.00.0
0.00.91.11.11.00.00.01.31.41.21.41.51.51.31.00.0
200120022003200420052006200720082009201020112012201320142015201620172009-2015
BGold-age savings- 0- 0- 0- 0- 00.20.3- 0- 0- 00.50.1- 0- 00.11.32.022.5
taxes- 00.60.50.60.70.60.81.1- 0- 0- 0- 01.3- 00.3- 01.618.0
gg debt- 0- 0- 0- 0- 0- 0- 0- 01.11.00.40.8- 01.10.90.05.359.6
EEold-age savings- 0- 0- 0- 00.2- 00.2- 0- 00.10.40.2- 0- 0- 00.78.9
taxes- 0- 00.10.60.40.20.6- 0- 0- 0- 0- 0- 0- 00.7- 00.79.3
gg debt- 00.00.3- 00.10.5- 00.51.1- 0- 00.71.41.81.2- 06.281.8
LVold-age savings- 00.20.40.40.40.30.6- 0- 0- 00.10.10.10.3- 00.61.236.4
taxes- 0- 0- 0- 00.20.40.4- 0- 0- 0- 0- 00.4- 00.8- 01.236.4
gg debt- 0- 0- 0- 0- 0- 0- 01.10.10.1- 0- 0- 00.2- 00.50.927.3
LTold-age savings- 0- 0- 00.10.10.2- 0- 0- 00.30.4- 00.4- 00.10.82.051.3
taxes- 0- 0- 00.20.30.40.91.1- 0- 0- 0- 00.0- 0- 0- 00.00.0
gg debt- 0- 0- 0- 0- 0- 0- 0- 00.6- 0- 00.4- 00.50.4- 01.948.7
HUold-age savings- 0- 0- 00.1- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
taxes0.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
gg debt- 00.50.70.71.01.01.21.21.41.1- 0- 0- 0- 0- 0- 02.5100.0
PLold-age savings- 0- 0- 00.30.3- 00.4- 0- 0- 0- 0- 0- 0- 0- 0- 00.2- 0- 0
taxes- 0- 0- 00.8- 0- 01.0- 0- 0- 0- 00.5- 0- 0- 0- 0- 00.58.0
gg debt1.11.21.2- 01.01.4- 01.61.61.61.0- 00.70.50.20.2- 05.892.0
ROold-age savings- 0- 0- 0- 0- 0- 0- 0- 0- 0- 00.10.30.2- 00.10.51.221.2
taxes- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01.10.81.933.5
gg debt- 0- 0- 0- 0- 0- 0- 00.20.30.30.30.20.51.0- 0- 02.645.3
SKold-age savings- 0- 0- 00.2- 00.20.10.2- 00.1- 0- 0- 0- 0- 00.70.811.0
taxes- 0- 0- 0- 00.60.90.91.0- 0- 0- 0- 0- 00.60.6- 01.216.5
gg debt- 0- 0- 0- 0- 0- 00.2- 01.21.11.21.10.6- 0- 0- 05.372.5
HRold-age savings- 0- 0- 0- 00.20.30.3- 0- 00.20.0- 0- 00.20.20.20.86.7
taxes- 0- 0- 0- 0- 00.90.9- 0- 0- 0- 0- 0- 0- 00.31.31.614.0
gg debt- 00.91.11.11.0- 0- 01.31.41.21.41.51.51.31.0- 09.379.4
old-age savingstaxesgg debt
BG (2005)22.518.059.6
EE (2003)8.99.381.8
LV(2001)36.436.427.3
LT (2004)51.30.048.7
HU (2001)0.00.0100.0
PL (2001)0.08.092.0
RO(2008)21.233.545.3
SK (2005)11.016.572.5
HR(2002)6.714.079.4
BG
old-age savings200120022003200420052006200720082009201020112012201320142015000000.199999999999999290.300000000000000710000.50.10000000000000053000.10000000000000053taxes20012002200320042005200620072008200920102011201220132014201500.60.50.60.70.600000000000000750.799999999999999381.100000000000000100001.300.30000000000000071gg debt200120022003200420052006200720082009201020112012201320142015000000001.100000000000000110.40.7999999999999994901.10000000000000010.8999999999999988
old-age savingsBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)22.4719101123595668.948372198016771936.3636363636363651.2820512820512850021.16402116402116811.004126547455302taxesBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)17.9775280898876529.255284597709666336.3636363636363741.423362852083534E-1407.973440243131349833.50970017636684916.506189821182943gg debtBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)59.55056179775279981.79634320427356927.27272727272726348.71794871794870110092.0265597568686545.3262786596119872.489683631361757
EE
old-age savings20012002200320042005200620072008200920102011201220132014201500000.2000000000000001800.20000000000000018005.3713981885469546E-20.423073476402071050.20000000000000018000taxes200120022003200420052006200720082009201020112012201320142015000.100000000000000530.581059919228550270.400000000000000360.199999999999999290.6010541157926492200000000.70000000000000107gg debt20012002200320042005200620072008200920102011201220132014201504.5105708449587924E-20.2897228139596637106.2512200082236236E-20.5323595663543665400.463326636799763551.1217859171307176000.664673249901342021.41.81.1999999999999988
LV
old-age savings20012002200320042005200620072008200920102011201220132014201500.20.40.40.399999999999999470.300000000000000710.599999999999999640000.10.19.9999999999999645E-20.299999999999999820taxes20012002200320042005200620072008200920102011201220132014201500000.200000000000000510.399999999999999250.40000000000000036000000.4000000000000003600.8gg debt20012002200320042005200620072008200920102011201220132014201500000001.10000000000000010.10.10000.200000000000000180
LT
old-age savings2001200220032004200520062007200820092010201120122013201420150009.9999999999999645E-29.9999999999999645E-20.200000000000000180000.30.400.3999999999999994700.10000000000000053taxes2001200220032004200520062007200820092010201120122013201420150000.200000000000000340.300000000000000380.39999999999999980.91.100000000000000100005.5511151231257827E-1600gg debt200120022003200420052006200720082009201020112012201320142015000000000.6000.400.50.39999999999999947
HU
old-age savings2001200220032004200520062007200820092010201120122013201420150000.1000000000000005300000000000taxes2001200220032004200520062007200820092010201120122013201420150.500000000000000gg debt20012002200320042005200620072008200920102011201220132014201500.50.70.69999999999999951111.21.21.41.100000000000000100000
PL
old-age savings200120022003200420052006200720082009201020112012201320142015201620170000.299999999999999820.3000000000000007100.400000000000000360000000000.16322587155037588taxes200120022003200420052006200720082009201020112012201320142015201620170000.80000000000000027000.9999999999999995600000.500000gg debt200120022003200420052006200720082009201020112012201320142015201620171.10000000000000011.21.200.999999999999999331.401.61.61.6100.70.50.20.170818928262748470
RO
old-age savings20012002200320042005200620072008200920102011201220132014201500000000000.100000000000000530.299999999999999820.2000000000000001809.9999999999999645E-2taxes200120022003200420052006200720082009201020112012201320142015000000000000001.1000000000000003gg debt20012002200320042005200620072008200920102011201220132014201500000000.20.30.330.289999999999999480.150000000000000190.4999999999999997810
SK
old-age savings2001200220032004200520062007200820092010201120122013201420150000.2000000000000001800.199999999999999290.100000000000000530.2000000000000001800.1000000000000005300000taxes20012002200320042005200620072008200920102011201220132014201500000.620.90000000000000080.899999999999998581.0199999999999998000000.60.6gg debt2001200220032004200520062007200820092010201120122013201420150000000.2200000000000008601.241.10999999999999941.221.12999999999999990.5699999999999999500
Sheet1
Social spendingEmployment rate
200020092015Change 2000-2009Change 2009-2015200020092015Change 2000-2009Change 2010-2015
BGna 8.88.7na-0.1
EE6.6-6.60
LV
LT
HU
PL
RO
SK
decomposition of transition (2)
transition cost200020012002200320042005200620072008totalSum of transition cost 2001 or reform start to 2012
BG (2002)0.60.50.60.70.81.11.15.4PL16.0
EE (2003)0.00.40.60.70.70.80.53.7HU 9.9
LV(2001)0.10.20.40.40.60.711.14.5SK (2005)8.9
LT (2004)0.30.40.60.91.13.3BG (2002)8.0
HU (2001)0.50.50.50.70.8111.21.27.4EE (2003)6.2
PL (2001)11.11.21.21.11.31.41.41.611.3LT (2004)5.0
RO(2008)0.20.2LV4.9
SK (2005)0.621.11.221.224.2RO(2008)1.6
HR (2001)0.91.11.11.21.21.21.3
OA expendiutre
BG6.66.46.16.4
EE5.95.45.45.45.55.35.35.16.1
LV8.37.67.26.45.85.45.14.55.1
LT6.66.15.85.65.55.45.25.96.3
HU6.96.97.47.47.37.77.88.28.7
PL8.59.39.59.69.59.29.38.78.9
RO5.25.35.75.15.35.25.15.56.4
SK6.06.06.16.26.06.15.95.85.6
HR6.36.15.95.65.6
GG debt
BG72.566.052.444.437.027.521.617.213.7
EE5.14.85.75.65.04.64.43.74.5
LV12.414.113.614.715.012.510.79.019.8
LT23.623.022.221.019.318.317.916.815.5
HU56.152.755.958.659.561.765.967.073.0
PL36.837.642.247.145.747.147.745.047.1
RO22.525.724.921.518.715.812.412.813.4
SK50.348.943.442.441.534.230.529.627.9
HR35.536.536.638.140.341.238.637.239.0
old-age savings decline20012002200320042005200620072008
BG000000.20.30
EE0.50000.200.20
LV0.10.20.40.40.40.30.60
LT0.50.30.20.10.10.200
HU0000.10000
PL0000.10.300.60
RO000.600.10.100
SK0000.200.20.10.2
HR00000.19290422820.27572732220.30053958350
gg debt decline (current taxes)
BG0.00.60.50.60.70.60.81.1
EE0.00.00.10.60.40.20.60.0
LV0.00.00.00.00.20.40.40.0
LT0.00.00.00.20.30.40.91.1
HU0.50.00.00.00.00.00.00.0
PL0.00.00.01.00.00.00.80.0
RO0.00.00.00.00.00.00.00.0
SK0.00.00.00.00.60.90.91.0
HR0.00.00.00.00.00.90.90.0
gg debt contribution (residudal)
BG0.00.00.00.00.00.00.00.0
EE0.00.00.30.00.10.50.00.5
LV0.00.00.00.00.00.00.01.1
LT0.00.00.00.00.00.00.00.0
HU0.00.50.70.71.01.01.21.2
PL1.11.21.20.01.01.40.01.6
RO0.00.00.00.00.00.00.00.2
SK0.00.00.00.00.00.00.20.0
HR0.00.91.11.11.00.00.01.3
200120022003200420052006200720082001-2010structure 2001-2011
BGold-age savings- 0- 0- 0- 0- 00.20.3- 00.59.3
taxes- 00.60.50.60.70.60.81.14.990.7
gg debt- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
EEold-age savings- 0- 0- 0- 00.2- 00.2- 00.410.9
taxes- 0- 00.10.60.40.20.6- 01.951.2
gg debt- 00.00.3- 00.10.5- 00.51.437.9
LVold-age savings- 00.20.40.40.40.30.6- 02.352.3
taxes- 0- 0- 0- 00.20.40.4- 01.022.7
gg debt- 0- 0- 0- 0- 0- 0- 01.11.125.0
LTold-age savings- 0- 0- 00.10.10.2- 0- 00.412.1
taxes- 0- 0- 00.20.30.40.91.12.987.9
gg debt- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
HUold-age savings- 0- 0- 00.1- 0- 0- 0- 00.11.4
taxes0.5- 0- 0- 0- 0- 0- 0- 00.57.2
gg debt- 00.50.70.71.01.01.21.26.391.3
PLold-age savings- 0- 0- 00.10.3- 00.6- 01.09.7
taxes- 0- 0- 01.0- 0- 00.8- 01.817.5
gg debt1.11.21.2- 01.01.4- 01.67.572.8
ROold-age savings- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
taxes- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
gg debt- 0- 0- 0- 0- 0- 0- 00.20.2100.0
SKold-age savings- 0- 0- 00.2- 00.20.10.20.716.1
taxes- 0- 0- 0- 00.60.90.91.03.478.9
gg debt- 0- 0- 0- 0- 0- 00.2- 00.25.0
HRold-age savings- 0- 0- 0- 00.20.30.3- 00.89.7
taxes- 0- 0- 0- 0- 00.90.9- 01.823.3
gg debt- 00.91.11.11.0- 0- 01.35.367.0
old-age savingstaxesgg debt
BG (2005)9.2690.74- 0
EE (2003)10.8851.2137.90
LV(2001)52.2722.7325.00
LT (2004)12.1287.88- 0
HU (2001)1.457.2591.30
PL (2001)9.7117.4872.82
RO(2008)- 0- 0100.00
SK (2005)16.0678.905.05
HR.(2002)9.7023.2767.03
BG
old-age savings20012002200320042005200620072008000000.199999999999999290.300000000000000710taxes2001200220032004200520062007200800.60.50.60.70.600000000000000750.799999999999999381.1000000000000001gg debt2001200220032004200520062007200800000000
old-age savingsBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)9.259259259259257710.88393627022742352.27272727272726612.1212121212121051.44927536231884819.7087378640776869016.055045871559638taxesBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)90.74074074074073351.21202302617825822.72727272727272787.878787878787897.246376811594202217.475728155339798078.89908256880733gg debtBG (2005)EE (2003)LV(2001)LT (2004)HU (2001)PL (2001)RO(2008)SK (2005)037.90404070359431925091.30434782608693972.8155339805825151005.0458715596330475
EE
old-age savings2001200220032004200520062007200800000.2000000000000001800.200000000000000180taxes20012002200320042005200620072008000.100000000000000530.581059919228550270.400000000000000360.199999999999999290.601054115792649220gg debt2001200220032004200520062007200804.5105708449587924E-20.2897228139596637106.2512200082236236E-20.5323595663543665400.46332663679976355
LV
old-age savings2001200220032004200520062007200800.20.40.40.399999999999999470.300000000000000710.599999999999999640taxes2001200220032004200520062007200800000.200000000000000510.399999999999999250.400000000000000360gg debt2001200220032004200520062007200800000001.1000000000000001
LT
old-age savings200120022003200420052006200720080009.9999999999999645E-29.9999999999999645E-20.2000000000000001800taxes200120022003200420052006200720080000.200000000000000340.300000000000000380.39999999999999980.91.1000000000000001gg debt2001200220032004200520062007200800000000
HU
old-age savings200120022003200420052006200720080000.100000000000000530000taxes200120022003200420052006200720080.50000000gg debt2001200220032004200520062007200800.50.70.69999999999999951111.21.2
PL
old-age savings200120022003200420052006200720080009.9999999999999645E-20.3000000000000007100.600000000000001420taxes200120022003200420052006200720080001.0000000000000004000.799999999999998490gg debt200120022003200420052006200720081.10000000000000011.21.200.999999999999999331.401.6
RO
old-age savings2001200220032004200520062007200800000000taxes2001200220032004200520062007200800000000gg debt2001200220032004200520062007200800000000.2
SK
old-age savings200120022003200420052006200720080000.2000000000000001800.199999999999999290.100000000000000530.20000000000000018taxes2001200220032004200520062007200800000.620.90000000000000080.899999999999998581.0199999999999998gg debt200120022003200420052006200720080000000.220000000000000860
terenary
TERNPLOT: TERNary PLOTting Excel 4.0 spreadsheet TERNPLOT USE
A brief description of the spreadsheet can be found in cells P5-X31
The graph can be exploded to full screen size by double clicking on the
embedded graph located on top of cell I91. Place your data in the columns titled A,B,C, (excel columns B,C & D)
Axes are as:A
Modifiable plotting parameters/_\
MinMaxIncrmtTicklenB C
A-axis0.00100.0010.005.00Titles A,B & C can be replaced with your titles for clarity
B-axis0.00
Calcualted parameters DON'T CHANGE
B-axis100.0010.005.002. All the calculations are within cells F14:I14 you will have to copy these
C-axis0.00100.0010.005.00
Five cells for each row of data you wish to plot
Raw dataX-PlotY-PlotNormalised data
SAMPLEold-age savingstaxesgg debtvaluevalue%A%B%CA-B ticks
BG22.4717.9859.5553.0922.4722.4717.9859.55ABCXY
EE8.959.2681.8064.708.958.959.2681.80TERNPLOT LIMITS 10.0085.005.0071.2510.00
LV36.3636.3627.2734.0936.3636.3636.3627.2710.0090.000.003.7510.00
LT51.280.0048.7255.7751.2851.280.0048.721. You are limited to about 300 data points the way it's set up,5.0090.005.005.635.00
PL- 07.9792.0369.020.000.007.9792.03but it's easy to change that. Just use the insert command (shift cells down)
RO21.1633.5145.3341.9321.1621.1633.5145.33to add more rows above the triangle outline/labels data cells20.0075.005.0067.5020.00
SK11.0016.5172.4958.5011.0011.0016.5172.49which are at about cell F330 on. Excel should automatically increase the20.0080.000.007.5020.00
HR6.6513.9879.3762.026.656.6513.9879.37the graph ranges to include the new rows and the triangle outline data15.0080.005.009.3815.00
2. Due to Excels ecentricities between the position of objects on the screeen 30.0065.005.0063.7530.00
and where they appear on the hardcopy it is difficult to place field boundaries30.0070.000.0011.2530.00
using the drawing tools in Chart. However, one can digitize the field boundaries25.0070.005.0013.1325.00
and then put the data in the column that draws the triangle outlines.
Importing the ternary plot to drawing programs such as Corel Draw can be done via the clipboard40.0055.005.0060.0040.00
Use Paste Special (Picture) in Corel Draw to paste the graph from the Clipboard40.0060.000.0015.0040.00
35.0060.005.0016.8835.00
50.0045.005.0056.2550.00
50.0050.000.0018.7550.00
45.0050.005.0020.6345.00
60.0035.005.0052.5060.00
60.0040.000.0022.5060.00
55.0040.005.0024.3855.00
70.0025.005.0048.7570.00
70.0030.000.0026.2570.00
65.0030.005.0028.1365.00
80.0015.005.0045.0080.00
80.0020.000.0030.0080.00
75.0020.005.0031.8875.00
90.005.005.0041.2590.00
90.0010.000.0033.7590.00
85.0010.005.0035.6385.00
10.005.005.0071.2510.00
10.0010.000.003.7510.00
5.0010.005.005.635.00
20.005.005.0067.5020.00
20.0010.000.007.5020.00
15.0010.005.009.3815.00
30.005.005.0063.7530.00
30.0010.000.0011.2530.00
25.0010.005.0013.1325.00
40.005.005.0060.0040.00
40.0010.000.0015.0040.00
35.0010.005.0016.8835.00
50.005.005.0056.2550.00
50.0010.000.0018.7550.00
45.0010.005.0020.6345.00
60.005.005.0052.5060.00
60.0010.000.0022.5060.00
55.0010.005.0024.3855.00
70.005.005.0048.7570.00
70.0010.000.0026.2570.00
65.0010.005.0028.1365.00
80.005.005.0045.0080.00
80.0010.000.0030.0080.00
75.0010.005.0031.8875.00
90.005.005.0041.2590.00
90.0010.000.0033.7590.00
85.0010.005.0035.6385.00
10.005.005.0071.2510.00
10.0010.000.003.7510.00
5.0010.005.005.635.00
20.005.005.0067.5020.00
20.0010.000.007.5020.00
15.0010.005.009.3815.00
30.005.005.0063.7530.00
30.0010.000.0011.2530.00
25.0010.005.0013.1325.00
40.005.005.0060.0040.00
40.0010.000.0015.0040.00
35.0010.005.0016.8835.00
50.005.005.0056.2550.00
50.0010.000.0018.7550.00
45.0010.005.0020.6345.00
60.005.005.0052.5060.00
60.0010.000.0022.5060.00
55.0010.005.0024.3855.00
Ticks on the line AC
ABC
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0069.385.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0065.6315.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
70.005.0025.0045.0070.00
70.000.0030.0048.7570.00
65.005.0030.0022.500.00
80.005.0015.0041.2580.00
80.000.0020.0045.0080.00
75.005.0020.0015.000.00
90.005.005.0037.5090.00
90.000.0010.0041.2590.00
85.005.0010.007.500.00
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0067.500.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0060.000.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
70.005.0025.0045.0070.00
70.000.0030.0048.7570.00
65.005.0030.0022.500.00
80.005.0015.0041.2580.00
80.000.0020.0045.0080.00
75.005.0020.0015.000.00
90.005.005.0037.5090.00
90.000.0010.0041.2590.00
85.005.0010.007.500.00
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0067.500.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0060.000.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
Ticks on the line B-C
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
5.0010.0025.0011.2530.00
0.0070.0030.0022.500.00
5.0065.0030.0024.385.00
5.0010.0015.007.5020.00
0.0080.0020.0015.000.00
5.0075.0020.0016.885.00
5.0010.005.003.7510.00
0.0090.0010.007.500.00
5.0085.0010.009.385.00
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
5.0010.0025.0011.2530.00
0.0070.0030.0022.500.00
5.0065.0030.0024.385.00
5.0010.0015.007.5020.00
0.0080.0020.0015.000.00
5.0075.0020.0016.885.00
5.0010.005.003.7510.00
0.0090.0010.007.500.00
5.0085.0010.009.385.00
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
Tick positions line A-B descending order
used for the maximum tick length calculations
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
DATA FOR TRIANGLE BOUNDARIES
DO NOT ERASE!!
40.0060.000.0015.0040.00
range f336-f339 give the
x coordinates for the
triangle outlineABC
37.50100.00100.000.000.0030.0070.000.0011.2530.00
0.000.000.00100.000.00100.00
Adjustment (F341) for BC axis length:75.000.000.000.00100.000.00
37.50100.00100.000.000.000.00
H339-H342 are the y-range values100.0020.0080.000.007.5020.00
for the triangle outline
These data points are
XY Screen/Printer Correction Factor115.47required for the triangle lines
DO NOT REMOVE10.0090.000.003.7510.00
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
40.0060.000.0015.0040.00
30.0070.000.0011.2530.00
20.0080.000.007.5020.00
10.0090.000.003.7510.00
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
40.0060.000.0015.0040.00
&D&P
con't
Data Series
BG
EE
53.0912264933226364.70472830934933522.4719101123595598.9483721980167719
LV
LT
PL
RO
SK
HR
BG
EE
LV
LT
HU
RO
SK
34.0915313704495855.77033758054221169.02197667255633541.93223740453507358.49543421953705362.02451772703620536.3636363636363651.282051282051292021.16402116402116811.0041265474553026.6548912804499611TickMarks71.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067748.75069499812932626.25002447814782528.12513448303893145.00047498834708630.00002797502608631.87513797991719541.2502549785648433.75003147190434335.62514147679545671.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067748.75069499812932626.25002447814782528.12513448303893145.00047498834708630.00002797502608631.87513797991719541.2502549785648433.75003147190434335.62514147679545671.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067767.50190330349249771.25201505682274269.3770133083836163.75168329371026567.50179504704050365.6267932986013760.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199445.00058324479907448.75069499812932622.5006705199814941.25036323501683545.00047498834708615.00044701332099737.50014322523458841.250254978564847.500223506660493267.50190330349249771.25201505682274267.50201155994449263.75168329371026567.50179504704050360.00178805328398860.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199445.00058324479907448.75069499812932622.5006705199814941.25036323501683545.00047498834708615.00044701332099737.50014322523458841.250254978564847.500223506660493267.50190330349249771.25201505682274267.50201155994449263.75168329371026567.50179504704050360.00178805328398860.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199433.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112611.25001049063478422.5006705199814924.3756722684206267.500006993756518815.00044701332099716.8754487617601293.75000349687826437.50022350666049329.375225255099625333.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112611.25001049063478422.5006705199814924.3756722684206267.500006993756518815.00044701332099716.8754487617601293.75000349687826437.50022350666049329.375225255099625333.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112610105202015303025404035505045606055.00000000000000770706580807590908510105202015303025404035505045606055.00000000000000770706580807590908510105202015303025404035505045606055.0000000000000071010520201530300404005050060600707008080090900101002020030300404005050060600707008080090900101002020030300404005050060600900580057005600550054005300520051005900580057005600550054005300520051005900580057005600550054005Triangle lines37.507537.510000100
Sheet2
ConbtributionsGDP
20021,913,256211,5000.90
20032,459,720232,4441.06
20042,741,549250,5651.09
20053,110,287269,7801.15
20063,477,820294,1501.18
20073,994,860322,4641.24
20084,512,996347,7501.30
20094,581,266331,3671.38
20104,543,777329,1431.38
20114,713,897333,4571.41
20124,911,947330,8251.48
20135,015,136331,7851.51
20144,867,209331,5701.47
20155,160,239339,6161.52
20165,338,529351,3491.52
20175,663,464365,6431.55
terenary (2)
TERNPLOT: TERNary PLOTting Excel 4.0 spreadsheet TERNPLOT USE
A brief description of the spreadsheet can be found in cells P5-X31
The graph can be exploded to full screen size by double clicking on the
embedded graph located on top of cell I91. Place your data in the columns titled A,B,C, (excel columns B,C & D)
Axes are as:A
Modifiable plotting parameters/_\
MinMaxIncrmtTicklenB C
A-axis0.00100.0010.005.00Titles A,B & C can be replaced with your titles for clarity
B-axis0.00
Calcualted parameters DON'T CHANGE
B-axis100.0010.005.002. All the calculations are within cells F14:I14 you will have to copy these
C-axis0.00100.0010.005.00
Five cells for each row of data you wish to plot
Raw dataX-PlotY-PlotNormalised data
SAMPLEold-age savingstaxesgg debtvaluevalue%A%B%CA-B ticks
BG9.2690.74- 03.479.269.2690.740.00ABCXY
EE10.8851.2137.9032.5110.8810.8851.2137.90TERNPLOT LIMITS 10.0085.005.0071.2510.00
LV52.2722.7325.0038.3552.2752.2722.7325.0010.0090.000.003.7510.00
LT12.1287.88- 04.5512.1212.1287.880.001. You are limited to about 300 data points the way it's set up,5.0090.005.005.635.00
HU1.457.2591.3069.021.451.457.2591.30but it's easy to change that. Just use the insert command (shift cells down)
PL9.7117.4872.8258.259.719.7117.4872.82to add more rows above the triangle outline/labels data cells20.0075.005.0067.5020.00
RO- 0- 0100.0075.000.000.000.00100.00which are at about cell F330 on. Excel should automatically increase the20.0080.000.007.5020.00
SK16.0678.905.059.8116.0616.0678.905.05the graph ranges to include the new rows and the triangle outline data15.0080.005.009.3815.00
HR9.7023.2767.0353.919.709.7023.2767.03
2. Due to Excels ecentricities between the position of objects on the screeen 30.0065.005.0063.7530.00
and where they appear on the hardcopy it is difficult to place field boundaries30.0070.000.0011.2530.00
using the drawing tools in Chart. However, one can digitize the field boundaries25.0070.005.0013.1325.00
and then put the data in the column that draws the triangle outlines.
Importing the ternary plot to drawing programs such as Corel Draw can be done via the clipboard40.0055.005.0060.0040.00
Use Paste Special (Picture) in Corel Draw to paste the graph from the Clipboard40.0060.000.0015.0040.00
35.0060.005.0016.8835.00
50.0045.005.0056.2550.00
50.0050.000.0018.7550.00
45.0050.005.0020.6345.00
60.0035.005.0052.5060.00
60.0040.000.0022.5060.00
55.0040.005.0024.3855.00
70.0025.005.0048.7570.00
70.0030.000.0026.2570.00
65.0030.005.0028.1365.00
80.0015.005.0045.0080.00
80.0020.000.0030.0080.00
75.0020.005.0031.8875.00
90.005.005.0041.2590.00
90.0010.000.0033.7590.00
85.0010.005.0035.6385.00
10.005.005.0071.2510.00
10.0010.000.003.7510.00
5.0010.005.005.635.00
20.005.005.0067.5020.00
20.0010.000.007.5020.00
15.0010.005.009.3815.00
30.005.005.0063.7530.00
30.0010.000.0011.2530.00
25.0010.005.0013.1325.00
40.005.005.0060.0040.00
40.0010.000.0015.0040.00
35.0010.005.0016.8835.00
50.005.005.0056.2550.00
50.0010.000.0018.7550.00
45.0010.005.0020.6345.00
60.005.005.0052.5060.00
60.0010.000.0022.5060.00
55.0010.005.0024.3855.00
70.005.005.0048.7570.00
70.0010.000.0026.2570.00
65.0010.005.0028.1365.00
80.005.005.0045.0080.00
80.0010.000.0030.0080.00
75.0010.005.0031.8875.00
90.005.005.0041.2590.00
90.0010.000.0033.7590.00
85.0010.005.0035.6385.00
10.005.005.0071.2510.00
10.0010.000.003.7510.00
5.0010.005.005.635.00
20.005.005.0067.5020.00
20.0010.000.007.5020.00
15.0010.005.009.3815.00
30.005.005.0063.7530.00
30.0010.000.0011.2530.00
25.0010.005.0013.1325.00
40.005.005.0060.0040.00
40.0010.000.0015.0040.00
35.0010.005.0016.8835.00
50.005.005.0056.2550.00
50.0010.000.0018.7550.00
45.0010.005.0020.6345.00
60.005.005.0052.5060.00
60.0010.000.0022.5060.00
55.0010.005.0024.3855.00
Ticks on the line AC
ABC
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0069.385.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0065.6315.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
70.005.0025.0045.0070.00
70.000.0030.0048.7570.00
65.005.0030.0022.500.00
80.005.0015.0041.2580.00
80.000.0020.0045.0080.00
75.005.0020.0015.000.00
90.005.005.0037.5090.00
90.000.0010.0041.2590.00
85.005.0010.007.500.00
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0067.500.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0060.000.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
70.005.0025.0045.0070.00
70.000.0030.0048.7570.00
65.005.0030.0022.500.00
80.005.0015.0041.2580.00
80.000.0020.0045.0080.00
75.005.0020.0015.000.00
90.005.005.0037.5090.00
90.000.0010.0041.2590.00
85.005.0010.007.500.00
10.005.0085.0067.5010.00
10.000.0090.0071.2510.00
5.005.0090.0067.500.00
20.005.0075.0063.7520.00
20.000.0080.0067.5020.00
15.005.0080.0060.000.00
30.005.0065.0060.0030.00
30.000.0070.0063.7530.00
25.005.0070.0052.500.00
40.005.0055.0056.2540.00
40.000.0060.0060.0040.00
35.005.0060.0045.000.00
50.005.0045.0052.5050.00
50.000.0050.0056.2550.00
45.005.0050.0037.500.00
60.005.0035.0048.7560.00
60.000.0040.0052.5060.00
55.005.0040.0030.000.00
Ticks on the line B-C
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
5.0010.0025.0011.2530.00
0.0070.0030.0022.500.00
5.0065.0030.0024.385.00
5.0010.0015.007.5020.00
0.0080.0020.0015.000.00
5.0075.0020.0016.885.00
5.0010.005.003.7510.00
0.0090.0010.007.500.00
5.0085.0010.009.385.00
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
5.0010.0025.0011.2530.00
0.0070.0030.0022.500.00
5.0065.0030.0024.385.00
5.0010.0015.007.5020.00
0.0080.0020.0015.000.00
5.0075.0020.0016.885.00
5.0010.005.003.7510.00
0.0090.0010.007.500.00
5.0085.0010.009.385.00
5.0010.0085.0033.7590.00
0.0010.0090.0067.500.00
5.005.0090.0069.385.00
5.0010.0075.0030.0080.00
0.0020.0080.0060.000.00
5.0015.0080.0061.885.00
5.0010.0065.0026.2570.00
0.0030.0070.0052.500.00
5.0025.0070.0054.385.00
5.0010.0055.0022.5060.00
0.0040.0060.0045.000.00
5.0035.0060.0046.885.00
5.0010.0045.0018.7550.00
0.0050.0050.0037.500.00
5.0045.0050.0039.385.00
5.0010.0035.0015.0040.00
0.0060.0040.0030.000.00
5.0055.0040.0031.885.00
Tick positions line A-B descending order
used for the maximum tick length calculations
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
DATA FOR TRIANGLE BOUNDARIES
DO NOT ERASE!!40.0060.000.0015.0040.00
range f336-f339 give the
x coordinates for the
triangle outlineABC30.0070.000.0011.2530.00
37.50100.00100.000.000.00100.00
0.000.000.00100.000.000.00
Adjustment (F341) for BC axis length:75.000.000.000.00100.000.00
37.50100.00100.000.000.00100.0020.0080.000.007.5020.00
H339-H342 are the y-range values
for the triangle outlineThese data points are
required for the triangle lines
XY Screen/Printer Correction Factor115.47DO NOT REMOVE10.0090.000.003.7510.00
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
40.0060.000.0015.0040.00
30.0070.000.0011.2530.00
20.0080.000.007.5020.00
10.0090.000.003.7510.00
90.0010.000.0033.7590.00
80.0020.000.0030.0080.00
70.0030.000.0026.2570.00
60.0040.000.0022.5060.00
50.0050.000.0018.7550.00
40.0060.000.0015.0040.00
&D&P
con't
Data Series
BG
EE
3.47222546007246432.510357615566749.259259259259259510.883936270227423
LV
LT
HU
PL
RO
SK
HR
38.3528497730603354.545458784094854869.02378035021590158.25405805517669975.0022350666049829.805164264403899253.91225789499241552.27272727272727312.1212121212121051.44927536231884839.7087378640776869016.0550458715596359.7009651092782772TickMarks71.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067748.75069499812932626.25002447814782528.12513448303893145.00047498834708630.00002797502608631.87513797991719541.2502549785648433.75003147190434335.62514147679545671.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067748.75069499812932626.25002447814782528.12513448303893145.00047498834708630.00002797502608631.87513797991719541.2502549785648433.75003147190434335.62514147679545671.2520150568227423.75000349687826435.625113501769374367.5017950470405037.50000699375651889.375116998647628863.75157503725826311.25001049063478413.12512049552589360.00135502747603815.00001398751304816.87512399240415656.25113501769379818.750017484391320.62512748928241352.50091500791155922.50002098126955724.37513098616067767.50190330349249771.25201505682274269.3770133083836163.75168329371026567.50179504704050365.6267932986013760.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199445.00058324479907448.75069499812932622.5006705199814941.25036323501683545.00047498834708615.00044701332099737.50014322523458841.250254978564847.500223506660493267.50190330349249771.25201505682274267.50201155994449263.75168329371026567.50179504704050360.00178805328398860.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199445.00058324479907448.75069499812932622.5006705199814941.25036323501683545.00047498834708615.00044701332099737.50014322523458841.250254978564847.500223506660493267.50190330349249771.25201505682274267.50201155994449263.75168329371026567.50179504704050360.00178805328398860.00146328392801163.75157503725826352.50156454662348456.25124327414578660.00135502747603845.00134103996299552.50102326436354656.25113501769379837.50111753330249148.75080325458130752.50091500791155930.00089402664199433.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112611.25001049063478422.5006705199814924.3756722684206267.500006993756518815.00044701332099716.8754487617601293.75000349687826437.50022350666049329.375225255099625333.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112611.25001049063478422.5006705199814924.3756722684206267.500006993756518815.00044701332099716.8754487617601293.75000349687826437.50022350666049329.375225255099625333.75003147190434367.50201155994449269.3770133083836130.00002797502608660.00178805328398861.8767898017231226.25002447814782552.50156454662348454.37656629506261722.50002098126955745.00134103996299546.8763427884021218.750017484391337.50111753330249139.37611928174162315.00001398751304830.00089402664199431.87589577508112610105202015303025404035505045606055.00000000000000770706580807590908510105202015303025404035505045606055.00000000000000770706580807590908510105202015303025404035505045606055.0000000000000071010520201530300404005050060600707008080090900101002020030300404005050060600707008080090900101002020030300404005050060600900580057005600550054005300520051005900580057005600550054005300520051005900580057005600550054005Triangle lines37.507537.510000100
MTO
Kolumna1MTO 2015Long-term cost of ageing (S2 indicator)Transition cost 2011Transition cost 2013-2014MTO with transition costKolumna2
BG-1.00.41.11.1-2.12012.0
EE0.00.50.40.9-0.92012.0
LV-1.0-1.00.10.1-1.1Oszacowanie z wykresu raportu AWG
LT-1.02.50.40.4-1.4Oszacowanie z wykresu raportu AWG
HU-1.70.10.00.0-1.7Oczywiste
PL-1.00.71.00.5-1.5Dane krajowe
RO-1.01.60.40.7-1.7Oszacowanie z wykresu raportu AWG
SK-0.52.21.21.1-1.62012.0
MTO 2015BGEELVLTHUPLROSK-10-1-1-1.7-1-1-0.5MTO with transition costBGEELVLTHUPLROSK-2.1-0.9-1.1000000000000001-1.4-1.7-1.5-1.7-1.6
excessive deficit
GG liitTransition cost 2013-2014amended GG deficit limit
BG-3.01.1-4.1
EE-3.00.9-3.9
LV-3.01.4-4.4
LT-3.00.4-3.4
HU-3.00.0-3.0
PL-3.00.5-3.5
RO-3.00.7-3.7
SK-3.01.2-4.2
GG liitBGEELVLTHUPLROSK-3-3-3-3-3-3-3-3amended GG deficit limitBGEELVLTHUPLROSK-4.0999999999999996-3.9-4.4000000000000004-3.4-3-3.5-3.7-4.2
-
Financing of the transition costs2000-2008 2009-2016
BGEE
LV
LTHUPL
RO
SK HR
taxes
old-age savings
gg debt
BG
EE
LV
LT
PL
RO SK
HRtaxes
old-age savings
gg debt
• Before the crisis• transition financed mainly from taxes/debt,
with notable exception of LV• Public debt used to finance transition in PL,
HU, RO
• After the crisis• Transition financed from debt in PL, EE, SK, HR• Old-age pension savings used to finance
transition in LT, LV, BG, RO• Tax-financing less popular
Source: Bielawska et al. (2018) with updates
-
Public finance situation• GG deficit increased between 2008 and 2011 in most of the countries, still
high in HR, PL until 2014, picking up recently in RO
• GG debt increased after 2009, particulalry in HR and HU, but also high in PL and SK
Source: Eurostat
Data
Government deficit/surplus, debt and associated data [gov_10dd_edpt1]
Last update26.04.19
Extracted on08.07.19
Source of dataEurostat
UNITPercentage of gross domestic product (GDP)
SECTORGeneral government
NA_ITEM
General government net lending (+) /net borrowing (-)
19992000200120022003200420052006200720082009201020112012201320142015201620172018
Estonia-3.3-0.10.20.41.82.41.12.92.7-2.7-2.20.21.2-0.3-0.20.70.1-0.3-0.4-0.6
Croatia-2.2-3.5-4.7-5.2-3.9-3.4-2.4-2.8-6.0-6.3-7.9-5.3-5.3-5.1-3.2-1.00.80.2
Latvia-3.7-2.7-1.9-2.3-1.5-0.9-0.4-0.5-0.5-4.2-9.5-8.6-4.3-1.2-1.2-1.4-1.40.1-0.6-1.0
Lithuania-2.8-3.2-3.5-1.9-1.3-1.4-0.3-0.3-0.8-3.1-9.1-6.9-8.9-3.1-2.6-0.6-0.30.20.50.7
Hungary-5.1-3.0-4.1-8.8-7.1-6.5-7.8-9.3-5.0-3.7-4.5-4.5-5.4-2.4-2.6-2.6-1.9-1.6-2.2-2.2
Poland-2.2-3.0-4.8-4.8-6.1-5.0-4.0-3.6-1.9-3.6-7.3-7.3-4.8-3.7-4.1-3.7-2.7-2.2-1.5-0.4
Romania-4.4-4.6-3.5-1.9-1.4-1.1-0.8-2.1-2.7-5.4-9.1-6.9-5.4-3.7-2.2-1.3-0.7-2.7-2.7-3.0
Slovakia-7.3-12.0-6.4-8.1-2.7-2.3-2.9-3.6-1.9-2.4-7.8-7.5-4.3-4.3-2.7-2.7-2.6-2.2-0.8-0.7
Special value:
:not available
UNITPercentage of gross domestic product (GDP)
SECTORGeneral government
NA_ITEM
General government consolidated gross debt
19992000200120022003200420052006200720082009201020112012201320142015201620172018
Estonia6.55.14.85.75.65.14.54.43.74.57.06.66.19.710.210.59.99.29.28.4
Croatia29.135.536.536.638.140.341.238.737.339.048.357.363.969.580.484.083.780.577.874.6
Latvia12.112.113.813.013.714.011.49.68.018.236.347.343.141.639.440.936.840.340.035.9
Lithuania22.723.522.922.120.418.717.617.215.914.628.036.237.239.838.840.542.640.039.434.2
Hungary59.955.351.955.357.958.760.564.565.571.677.880.280.578.477.276.776.776.073.470.8
Poland39.036.537.341.846.645.046.446.944.246.349.453.154.153.755.750.451.354.250.648.9
Romania21.722.525.924.822.118.915.912.412.012.421.929.834.237.037.639.237.837.335.235.0
Slovakia47.149.648.342.941.640.634.131.030.128.536.341.243.752.254.753.552.251.850.948.9
Special value:
:not available
Data
Government deficit/surplus, debt and associated data [gov_10dd_edpt1]
Last update26.04.19
Extracted on08.07.19
Source of dataEurostat
UNITPercentage of gross domestic product (GDP)
SECTORGeneral government
NA_ITEM
General government net lending (+) /net borrowing (-)
19992000200120022003200420052006200720082009201020112012201320142015201620172018
Estonia-3.3-0.10.20.41.82.41.12.92.7-2.7-2.20.21.2-0.3-0.20.70.1-0.3-0.4-0.6
Croatia-2.2-3.5-4.7-5.2-3.9-3.4-2.4-2.8-6.0-6.3-7.9-5.3-5.3-5.1-3.2-1.00.80.2
Latvia-3.7-2.7-1.9-2.3-1.5-0.9-0.4-0.5-0.5-4.2-9.5-8.6-4.3-1.2-1.2-1.4-1.40.1-0.6-1.0
Lithuania-2.8-3.2-3.5-1.9-1.3-1.4-0.3-0.3-0.8-3.1-9.1-6.9-8.9-3.1-2.6-0.6-0.30.20.50.7
Hungary-5.1-3.0-4.1-8.8-7.1-6.5-7.8-9.3-5.0-3.7-4.5-4.5-5.4-2.4-2.6-2.6-1.9-1.6-2.2-2.2
Poland-2.2-3.0-4.8-4.8-6.1-5.0-4.0-3.6-1.9-3.6-7.3-7.3-4.8-3.7-4.1-3.7-2.7-2.2-1.5-0.4
Romania-4.4-4.6-3.5-1.9-1.4-1.1-0.8-2.1-2.7-5.4-9.1-6.9-5.4-3.7-2.2-1.3-0.7-2.7-2.7-3.0
Slovakia-7.3-12.0-6.4-8.1-2.7-2.3-2.9-3.6-1.9-2.4-7.8-7.5-4.3-4.3-2.7-2.7-2.6-2.2-0.8-0.7
Special value:
:not available
UNITPercentage of gross domestic product (GDP)
SECTORGeneral government
NA_ITEM
General government consolidated gross debt
19992000200120022003200420052006200720082009201020112012201320142015201620172018
Estonia6.55.14.85.75.65.14.54.43.74.57.06.66.19.710.210.59.99.29.28.4
Croatia29.135.536.536.638.140.341.238.737.339.048.357.363.969.580.484.083.780.577.874.6
Latvia12.112.113.813.013.714.011.49.68.018.236.347.343.141.639.440.936.840.340.035.9
Lithuania22.723.522.922.120.418.717.617.215.914.628.036.237.239.838.840.542.640.039.434.2
Hungary59.955.351.955.357.958.760.564.565.571.677.880.280.578.477.276.776.776.073.470.8
Poland39.036.537.341.846.645.046.446.944.246.349.453.154.153.755.750.451.354.250.648.9
Romania21.722.525.924.822.118.915.912.412.012.421.929.834.237.037.639.237.837.335.235.0
Slovakia47.149.648.342.941.640.634.131.030.128.536.341.243.752.254.753.552.251.850.948.9
Special value:
:not available
-
General context of reform reversals
Fertility
Dependency rate
Employment
Pension expenditure
Pensioners
Performance of funded Pension fund returns
Government deficit
Government debt
Pension system changes after crisis
Bulgaria
-
-
+
+
+
-
-
+
No change
Estonia
-
-
+
+
+
-
+
+
Temporary reduction with offset
Latvia
--
--
-
-
-
-
--
-
Partial reduction
Lithuania
-
-
--
+
+
-
--
-
Partial reduction
Hungary
--
-
-
--
-
+
-
--
Permanent reversal
Poland
--
--
++
--
-
+
--
--
Permanent reduction and partial reversal
Slovakia
--
--
++
-
-
-
--
--
Permanent reduction
-
IMPACT OF THE CHANGES: ASSETS AND PENSION WEALTH
-
Consequences of the changes
• Different impact on the future situation in relation to the PAYG parts of the pension schemes– Impact on both adequacy and sustainability
• Potentially lower pensions in the future (with already risk of low adequacy of pension benefits)– liquidated 2nd pillar balances were mostly transferred to the state
and earned PAYG entitlements (retroactively) – allowing people to simply spend the liquidated balances reduces the
pension wealth and future benefits
-
Pension systems assets in CEE relative to GDP(mandatory and voluntary schemes)
Source: OECD Pension Stats
Countries that reversed the mandatory funded pensions
Countries that (temporarily) reduced mandatory funded pensions
Countries with sustained mandatory funded pensions
Countries developing voluntary schemes.
OECD countries
20062007200820092010201120122013201420152016Australia
20062007200820092010201120122013201420152016Austria
20062007200820092010201120122013201420152016Belgium
20062007200820092010201120122013201420152016Canada
20062007200820092010201120122013201420152016Chile
20062007200820092010201120122013201420152016Czech Republic
200620072008200920102011201220132014201520164.15473921358415684.35395556958290624.76390400676719945.492319450723835.86559776946869436.13593311938875816.72917233181408757.25766469470938977.8625809236381298.11758072563478278.4244477336149028Denmark
20062007200820092010201120122013201420152016Finland (1)
20062007200820092010201120122013201420152016France (2)
20062007200820092010201120122013201420152016Germany (3)
20062007200820092010201120122013201420152016Greece (4)
20062007200820092010201120122013201420152016Iceland
20062007200820092010201120122013201420152016Ireland (6)
20062007200820092010201120122013201420152016Israel
20062007200820092010201120122013201420152016Italy
20062007200820092010201120122013201420152016Japan
20062007200820092010201120122013201420152016Korea
20062007200820092010201120122013201420152016Luxembourg
20062007200820092010201120122013201420152016Mexico
20062007200820092010201120122013201420152016Netherlands
20062007200820092010201120122013201420152016New Zealand
20062007200820092010201120122013201420152016Norway
20062007200820092010201120122013201420152016Portugal (8)
20062007200820092010201120122013201420152016Slovenia
200620072008200920102011201220132014201520163.06994786241384393.52253290790125283.79731470267467194.95569031624016895.83904931959956656.03659611916053156.29308732261776356.42116904752813696.80961924896186686.92188868354150886.9546431763020324Spain
20062007200820092010201120122013201420152016Sweden
20062007200820092010201120122013201420152016Switzerland (9)
20062007200820092010201120122013201420152016Turkey
20062007200820092010201120122013201420152016United Kingdom
20062007200820092010201120122013201420152016United States
20062007200820092010201120122013201420152016Selected non-OECD jurisdictions
20062007200820092010201120122013201420152016Albania (10)
20062007200820092010201120122013201420152016Armenia
20062007200820092010201120122013201420152016Bolivia
20062007200820092010201120122013201420152016Botswana
20062007200820092010201120122013201420152016Brazil (11)
20062007200820092010201120122013201420152016China (People’s Republic of)
20062007200820092010201120122013201420152016Colombia
20062007200820092010201120122013201420152016Costa Rica (12)
20062007200820092010201120122013201420152016Dominican Republic
20062007200820092010201120122013201420152016Egypt
20062007200820092010201120122013201420152016El Salvador
20062007200820092010201120122013201420152016FYR of Macedonia
20062007200820092010201120122013201420152016Ghana
20062007200820092010201120122013201420152016Gibraltar (13)
20062007200820092010201120122013201420152016Guyana
20062007200820092010201120122013201420152016Hong Kong (China)
20062007200820092010201120122013201420152016India
20062007200820092010201120122013201420152016Indonesia
20062007200820092010201120122013201420152016Jamaica
20062007200820092010201120122013201420152016Kenya
20062007200820092010201120122013201420152016Kosovo
20062007200820092010201120122013201420152016Lesotho
20062007200820092010201120122013201420152016Liechtenstein
20062007200820092010201120122013201420152016
OECD countries
20062007200820092010201120122013201420152016Australia
20062007200820092010201120122013201420152016Austria
20062007200820092010201120122013201420152016Belgium
20062007200820092010201120122013201420152016Canada
20062007200820092010201120122013201420152016Chile
20062007200820092010201120122013201420152016Denmark
20062007200820092010201120122013201420152016Finland (1)
20062007200820092010201120122013201420152016France (2)
20062007200820092010201120122013201420152016Germany (3)
20062007200820092010201120122013201420152016Greece (4)
20062007200820092010201120122013201420152016Hungary
200620072008200920102011201220132014201520169.563570264623615810.8224857572549.483082046647094612.97466077650530814.6368701058484313.76510569526539253.87668876230010943.94127874643069384.03305707790593984.06274207256963754.2833963395774006Iceland
20062007200820092010201120122013201420152016Ireland (6)
20062007200820092010201120122013201420152016Israel
20062007200820092010201120122013201420152016Italy
20062007200820092010201120122013201420152016Japan
20062007200820092010201120122013201420152016Korea
20062007200820092010201120122013201420152016Luxembourg
20062007200820092010201120122013201420152016Mexico
20062007200820092010201120122013201420152016Netherlands
20062007200820092010201120122013201420152016New Zealand
20062007200820092010201120122013201420152016Norway
20062007200820092010201120122013201420152016Poland
2006200720082009201020112012201320142015201611.08677706937122511.98496132973505510.93752979039227213.32220771195037515.55498973567370614.74210241965888816.97689291950064918.7084252923024659.5958518801590288.77431009616405269.2650643162592754Portugal (8)
20062007200820092010201120122013201420152016Spain
20062007200820092010201120122013201420152016Sweden
20062007200820092010201120122013201420152016Switzerland (9)
20062007200820092010201120122013201420152016Turkey
20062007200820092010201120122013201420152016United Kingdom
20062007200820092010201120122013201420152016United States
20062007200820092010201120122013201420152016Selected non-OECD jurisdictions
20062007200820092010201120122013201420152016Albania (10)
20062007200820092010201120122013201420152016Armenia
20062007200820092010201120122013201420152016Bolivia
20062007200820092010201120122013201420152016Botswana
20062007200820092010201120122013201420152016Brazil (11)
20062007200820092010201120122013201420152016China (People’s Republic of)
20062007200820092010201120122013201420152016Colombia
20062007200820092010201120122013201420152016Costa Rica (12)
20062007200820092010201120122013201420152016Dominican Republic
20062007200820092010201120122013201420152016Egypt
20062007200820092010201120122013201420152016El Salvador
20062007200820092010201120122013201420152016FYR of Macedonia
20062007200820092010201120122013201420152016Ghana
20062007200820092010201120122013201420152016Gibraltar (13)
20062007200820092010201120122013201420152016Guyana
20062007200820092010201120122013201420152016Hong Kong (China)
20062007200820092010201120122013201420152016India
20062007200820092010201120122013201420152016Indonesia
20062007200820092010201120122013201420152016Jamaica
20062007200820092010201120122013201420152016Kenya
20062007200820092010201120122013201420152016Kosovo
20062007200820092010201120122013201420152016Lesotho
20062007200820092010201120122013201420152016Liechtenstein
20062007200820092010201120122013201420152016
OECD countries
20062007200820092010201120122013201420152016Australia
20062007200820092010201120122013201420152016Austria
20062007200820092010201120122013201420152016Belgium
20062007200820092010201120122013201420152016Canada
20062007200820092010201120122013201420152016Chile
20062007200820092010201120122013201420152016Denmark
20062007200820092010201120122013201420152016Estonia
200620072008200920102011201220132014201520164.66571539292879845.5636898766472985.57680449940682188.27599866256315419.00936467162908098.3731419813171089.831623020117049810.89055438902631512.86204036930728214.56233454210227916.439404707537339Finland (1)
20062007200820092010201120122013201420152016France (2)
20062007200820092010201120122013201420152016Germany (3)
20062007200820092010201120122013201420152016Greece (4)
20062007200820092010201120122013201420152016Iceland
20062007200820092010201120122013201420152016Ireland (6)
20062007200820092010201120122013201420152016Israel
20062007200820092010201120122013201420152016Italy
20062007200820092010201120122013201420152016Japan
20062007200820092010201120122013201420152016Korea
20062007200820092010201120122013201420152016Latvia
200620072008200920102011201220132014201520161.44209472071889281.92071616902840823.14309842888871946.05822533583213927.44695545142706466.94998505868241267.58950051341947688.43315937220393699.805033943963717710.99341251937099212.662219832084094Luxembourg
20062007200820092010201120122013201420152016Mexico
20062007200820092010201120122013201420152016Netherlands
20062007200820092010201120122013201420152016New Zealand
20062007200820092010201120122013201420152016Norway
20062007200820092010201120122013201420152016Portugal (8)
20062007200820092010201120122013201420152016Slovak Republic
200620072008200920102011201220132014201520162.35136653717055033.62603012064697294.63406820218744116.19421804902455357.22435028762918218.20993279964852199.37586198058957449.704222649994424210.45979236499105810.21403252050108211.158670018593838Spain
20062007200820092010201120122013201420152016Sweden
20062007200820092010201120122013201420152016Switzerland (9)
20062007200820092010201120122013201420152016Turkey
20062007200820092010201120122013201420152016United Kingdom
20062007200820092010201120122013201420152016United States
20062007200820092010201120122013201420152016Selected non-OECD jurisdictions
20062007200820092010201120122013201420152016Albania (10)
20062007200820092010201120122013201420152016Armenia
20062007200820092010201120122013201420152016Bolivia
20062007200820092010201120122013201420152016Botswana
20062007200820092010201120122013201420152016Brazil (11)
20062007200820092010201120122013201420152016China (People’s Republic of)
20062007200820092010201120122013201420152016Colombia
20062007200820092010201120122013201420152016Costa Rica (12)
20062007200820092010201120122013201420152016Dominican Republic
20062007200820092010201120122013201420152016Egypt
20062007200820092010201120122013201420152016El Salvador
20062007200820092010201120122013201420152016FYR of Macedonia
20062007200820092010201120122013201420152016Ghana
20062007200820092010201120122013201420152016Gibraltar (13)
20062007200820092010201120122013201420152016Guyana
20062007200820092010201120122013201420152016Hong Kong (China)
20062007200820092010201120122013201420152016India
20062007200820092010201120122013201420152016Indonesia
20062007200820092010201120122013201420152016Jamaica
20062007200820092010201120122013201420152016Kenya
20062007200820092010201120122013201420152016Kosovo
20062007200820092010201120122013201420152016Lesotho
20062007200820092010201120122013201420152016Liechtenstein
20062007200820092010201120122013201420152016Lithuania
200620072008200920102011201220132014201520164.04654430276687643.86461559778800994.28783445330604624.60153083398662945.24404914929953495.8460528783048946.6631552820273869
OECD countries
20062007200820092010201120122013201420152016Australia
20062007200820092010201120122013201420152016Austria
20062007200820092010201120122013201420152016Belgium
20062007200820092010201120122013201420152016Canada
20062007200820092010201120122013201420152016Chile
20062007200820092010201120122013201420152016Denmark
20062007200820092010201120122013201420152016Finland (1)
20062007200820092010201120122013201420152016France (2)
20062007200820092010201120122013201420152016Germany (3)
20062007200820092010201120122013201420152016Greece (4)
20062007200820092010201120122013201420152016Iceland
20062007200820092010201120122013201420152016Ireland (6)
20062007200820092010201120122013201420152016Israel
20062007200820092010201120122013201420152016Italy
20062007200820092010201120122013201420152016Japan
20062007200820092010201120122013201420152016Korea
20062007200820092010201120122013201420152016Luxembourg
20062007200820092010201120122013201420152016Mexico
20062007200820092010201120122013201420152016Netherlands
20062007200820092010201120122013201420152016New Zealand
20062007200820092010201120122013201420152016Norway
20062007200820092010201120122013201420152016Portugal (8)
20062007200820092010201120122013201420152016Spain
20062007200820092010201120122013201420152016Sweden
20062007200820092010201120122013201420152016Switzerland (9)
20062007200820092010201120122013201420152016Turkey
20062007200820092010201120122013201420152016United Kingdom
20062007200820092010201120122013201420152016United States
20062007200820092010201120122013201420152016Selected non-OECD jurisdictions
20062007200820092010201120122013201420152016Albania (10)
20062007200820092010201120122013201420152016Armenia
20062007200820092010201120122013201420152016Bolivia
20062007200820092010201120122013201420152016Botswana
20062007200820092010201120122013201420152016Brazil (11)
20062007200820092010201120122013201420152016Bulgaria
200620072008200920102011201220132014201520162.86059490031755593.66787470061767353.16577326955852464.3478201298879245.34495994436345615.69342116668111326.95908093612871788.30157242655112889.786797235574049110.6059771256957711.49921385318177China (People’s Republic of)
20062007200820092010201120122013201420152016Colombia
20062007200820092010201120122013201420152016Costa Rica (12)
20062007200820092010201120122013201420152016Croatia
200620072008200920102011201220132014201520165.56218043989186136.76801256255681596.7702019874311539.254058827794999311.61079777771003512.93975910591546416.20876414480552818.49089256468428721.42938910358784123.64663484175044125.959620877407822Dominican Republic
20062007200820092010201120122013201420152016Egypt
20062007200820092010201120122013201420152016El Salvador
20062007200820092010201120122013201420152016FYR of Macedonia
20062007200820092010201120122013201420152016Ghana
20062007200820092010201120122013201420152016Gibraltar (13)
20062007200820092010201120122013201420152016Guyana
20062007200820092010201120122013201420152016Hong Kong (China)
20062007200820092010201120122013201420152016India
20062007200820092010201120122013201420152016Indonesia
20062007200820092010201120122013201420152016Jamaica
20062007200820092010201120122013201420152016Kenya
20062007200820092010201120122013201420152016Kosovo
20062007200820092010201120122013201420152016Lesotho
20062007200820092010201120122013201420152016Liechtenstein
20062007200820092010201120122013201420152016Romania
200620072008200920102011201220132014201520163.3615615242266737E-30.178165810810802660.484370222447294270.873398640910614921.21344928414236851.7203212498324562.30427518854791563.01909491015110513.64790192138129094.3449351102606855
-
But size of the economy also matters
29/10/19 22Source: Investment&Pensions in Europe
-
Decomposition of asset changes in Poland(3rd quarter 2018)
(+) Net change of assets =
(+) contributions plus interests
(-) up-front fee
(+) net before assetmanagement fee
(-) asset management fee
(-) slider
(-) other transfers
Source: Financial Supervision Commission
-
Contributionchanges
• Difference in initial contribution levels
• But also difference in the reduction of contribution rates
• Permanent change in Latvia, Poland and Slovakia
0.0
2.0
4.0
6.0
8.0
10.0
2000
2003
2006
2009
2012
2015
2018
2021
2024
2027
2030
2033
2036
2039
per c
ent o
f wag
e
Romania
Romania Initial Romania Post 2008
0
2
4
6
8
10
2000
2003
2006
2009
2012
2015
2018
2021
2024
2027
2030
2033
2036
2039
per c
ent o
f wag
e
Slovakia
Slovakia Initial Slovakia Post 2008
0
2
4
6
8
10
2000
2003
2006
2009
2012
2015
2018
2021
2024
2027
2030
2033
2036
2039
per c
ent o
f wag
e
Poland
Poland Initial Poland Post 2008
0
5
10
2000
2003
2006
2009
2012
2015
2018
2021
2024
2027
2030
2033
2036
2039
per c
ent o
f wag
e
Lithuania
Lithuania InitialLithuania Post 2008Lithuania Post 2008 with individual contribution
0
2
4
6