Abstract
While being focused on macroeconomic imbalances, the European Commission's latest Country report for Croatia also warns of inefficiencies in the national pension system.1 They mainly include: (a) a large number of early retirees; (b) an excessively generous system of early retirement for „hazardous and arduous“ professions; and (c) numerous pension schemes governed by special regulations. As a result of these factors, and the strong growth in disability retirements over the past period, the ratio between average pension benefit and average salary is lower than in most other EU Member States. It is therefore not surprising that almost one third of the population aged 65 and over lives in poverty or social exclusion, as compared with under one fifth on average in the EU.
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