The reform of the pension system is a cardinal and noteworthy subject in all countries of the European Union (EU), particularly the Visegr?d Four. Visegr?d Four are the four central European post-communist countries, the Czech Republic, the Republic of Hungary, the Republic of Poland and the Slovak Republic - the issue of ageing society and the problems of its pension systems' is often discussed in myriad scientific meetings. These economic and social challenges necessitate long-term government strategies, which need to be modelled, simulated (tested and verified). The study shows the numbers and the problems of the state pension system of Visegr?d Four, particularly with regard to the main problems of Hungarian social security system is based on the expected population and demographic statistics. The study is based on statistical projections, it includes an attachment of the results of a questionnaire-based behavioural economics research, a presentation of a vision of pension expenses and pension standards in EU and Hungary.

KEY WORDS
modelling of the pension system, microsimulation, impact assessment of the pension system

CLASSIFICATION

JEL:

I23, J61