Drawing on the theoretical framework of the Economics of Convention this paper analyses the employment of people with disabilities as a valuation process. Based on case studies and interviews in business companies and disability insurance offices, it explores how employers and disability insurance determine the value of disabled workers. Inasmuch as employers are not willing to adapt performance standards, job design and work organisation, disability insurance attains individual exceptions for its clients at best, while disabling standards remain intact.
Both in theory and practice, great attention is paid to the analysis of the pension expenditures level, their determinants, as well as the options for their reduction, whereas the analysis of the revenues level and contributions, as the most significant revenue in contribution-based pension systems, is often neglected. The aim of this paper is to analyse the determinants of the level of contributions for pension and disability insurance in order to identify options for increasing their levels in the pension system of the Republic of Serbia. By using the comparative method, a comparative analysis of data about the trends of the most significant determinants of contribution levels among the European Union Member States and Serbia is performed. Research results have shown that increase in the contribution level for pension and disability insurance in the Republic of Serbia can be achieved by extending the definition of contribution base of employees, increasing the average effective retirement age and increasing the effective population coverage by this insurance. In addition to pointing out the options for increasing the contribution level for pension and disability insurance, the authors also propose the measures which can be applied in order to affect the increase of the contribution level for this insurance and, therefore, the total revenues level of the pension system of the Republic of Serbia.
References 1. Abramowitz, M. I. A. (1965). Handbook of Mathematical Functions with formulas, Graphs, and Mathematical Tables. Series 55, 4th printing ed. Washington DC: National Bureau of Standards, Applied Mathematics, U.S. Government Printing Office. 2. Booth, T., Tickle, L. (2008). Mortality modelling and forecasting: A review of methods. Annals of Actuarial Science, Vol. 3, No. 1-2, pp. 3-43. 3. Bošnjak, N. (2016). The actuarial projection method for pension fund’s dependency ratio in case of Pension and DisabilityInsurance Fund of Republic of Srpska
References Andersen, A. L., et al. (Eds). (1945). Dansk Sportsleksikon /Danish Sports Lexicon/. Copenhagen, Denmark: Standard Forlaget. Betænkning nr. 228. (1959). Betænkning om Invalideforsikringen afgivet af Invalideforsikringskommissionen af 1956. /Report on the invalidity insurance offered by DisabilityInsurance Commission of 1956/. Retrieved 12, 05, 2014 from http://www.statensnet.dk/betaenkninger/0201-0400/0228-1959/0228-1959_pdf/searchable_228-1959.pdf Blok, P. (1995). Højesterets dom af 21. December 1994 om Foreningsnavneret /Supreme Court ruling of 21
mutual fund to yield annuity-like benefits , Financ. Anal. J., Vol. 63(1), 63-67. Habermann S., Pitacco E., 1999, Actuarial Models for DisabilityInsurance , Chapman & Hall/CRC, London. Homa M., 2015a, Mathematical reserves in insurance with equity funds versus the real value of a reference portfolio , Research Papers of Wroclaw University of Economics Financial Investment and Insurance-Global Trends and the Polish Market 381, 86-97. Homa M, 2015b, The impact of additional insurance options of the abd, ali and adi-type on the level of mathematical reserves of
national social insurance systems and related policies in the Netherlands on sickness and long-term absence, Stress Impact project. Hoofdorp: The Netherlands Association of Applied Scientific Research. TNO Work and Employment; 2003. Social Security Administration. Annual Statistical Report on the Social Security DisabilityInsurance Program 2001. (US) SSA Office of Policy, Office of Research, Evaluation and Statistics; 2001. Marmot M, Wilkinson R, editors. Social Determinants of Health. Oxford: Oxford University Press; 1999. Marmot M, Bosma H, Hemingway H, Brunner
2018, Ubezpieczenia emerytalne i rentowe. Cudzoziemcy [ Retirement and disabilityinsurance. Foreigners Available from: < http://psz.zus.pl/kategorie/ubezpieczeni/ubezpieczenia-emerytalne-i-rentowe >. [5 May 2019]. Zakład Ubezpieczeń Społecznych 2018 Ubezpieczenia emerytalne i rentowe. Cudzoziemcy [Retirement and disabilityinsurance. Foreigners] Available from http://psz.zus.pl/kategorie/ubezpieczeni/ubezpieczenia-emerytalne-i-rentowe 5 May 2019 Zarycki, T (ed.) 2016, Polska jako peryferie [ Poland as a periphery Wydawnictwo Naukowe Scholar, Warszawa
of these cases are shown in Table 1 . Table 1 Litigation characteristics and outcomes Case Year Patient status Sued Reason Outcome Court site Horwitz vs. Yale New Haven Hosp . 1996 Died Hospital and Physician Medical Malpractice Claim Defendants did not deviate from the applicable standard of care Superior Court of Connecticut Woodmancy vs. Colvin 2013 Alive Commissioner of the Social Security Administration Review of Commissioner’s decision to deny her applications for disabilityinsurance benefits and for Supplemental Security Income (SSI) benefits Commissioner
replacement ratio is explained on the one hand by the fact that the compensation is not taxed as income and furthermore by the intention of providing motivation for the employee to return to work. Individual US states used to set minimum and maximum compensation values in relation to the average state-wide wage. If an employee is simultaneously entitled to a compensation pension and an invalidity pension from the federal Social Security DisabilityInsurance (SSDI) system, the total amount of both benefits may not exceed 80% of the individual’s wage prior to the work
and disabilityinsurance for agricultural workers], Przegląd ubezpieczeń Społecznych,
no. 3/1934, p. 148-151.
25Social privileges in the Second Polish Republic
This type of protection was available to white-collar workers after
the regulation of 1927 entered into force. This group was much smaller
than blue-collar workers (about 300-350 thousand people were insured);
nonetheless, also this group should be considered privileged in this re-
spect. What is more, the terms and conditions regarding retirement insur-
ance were much more favorable for white