The Impact of pension systems on working life in Albania, Cyprus and Lithuania

In XXI century most of European countries underwent radical changes in economic and social systems. The goal of this paper is to discuss the impact of pension systems on extending working life in Albania, Cyprus and Lithuania. The paper is based on the compar- ative analysis which is done in the framework of EU COST Action IS1409 "Gender anhealth impacts of policies extending working life in Western countries". Comparativde analysis is based on theoretical, statistical and secondary data analysis. In each country, the parametric reforms of increasing the retirement ages have forced old age people to extend their working life. In Albania the pension reform started in 1993 and has continued approximately every ten years, in 2002 and in 2015 tending to have a sustainable Pay As You Go system. In Cyprus major reforms in the Social Insurance Scheme, which covers all the employed and self-employed persons in the area controlled by the Republic of Cyprus, started in 1980 and then after the financial crisis of 2013. In Lithuania pension reform started in 1995, but only in 2004 three pillars system was implemented, new reform was introduced in 2018. However, introduced reforms don't guarantee well-being of elderly population and rise challenging discussions about what economic and social means should be in place in each country for extending the working life through active involvement and a productive life