Retirement Fund System Reform in Albania: Issues and Challenges

The process of developing the social insurance system in Albania corresponds to its transformation from a centrally planned to free market economy. In the center of the social insurance system is the retirement fund scheme. How successful is the Albanian pension system to fulfill its functions? This paper through a descriptive analysis of the current pension system in Albania identifies issues and challenges for the development of a sustainable pension system in the context of socio-economic development of the country. The paper presents the suggestions to improve the pension situation in Albania.