Economic Impact of Elderly Migration and Pension Transfers

Abstract

The article focuses on an insufficiently studied topic in the literature – retirement migration and economic effects and changes of population structure associated with it. The reasons and factors for the positive migration balance of population aged 50+, as well as the different migration pattern of the local and immigrant population in this age group have been examined. The cross-border movement of people with pension rights is analysed at the macro level in parallel with the related financial flows and their role in the balance of payments and the social security system. For the first time, a specific methodology is being applied to the study of this type of migrant transfers, based on pension transfers between pension insurance institutions.