id	sid	tid	token	lemma	pos
faba-154	1	1	70	70	NUM
faba-154	1	2	finance	finance	NOUN
faba-154	1	3	,	,	PUNCT
faba-154	1	4	accounting	accounting	NOUN
faba-154	1	5	and	and	CCONJ
faba-154	1	6	business	business	NOUN
faba-154	1	7	analysis	analysis	NOUN
faba-154	1	8	volume	volume	NOUN
faba-154	1	9	5	5	NUM
faba-154	1	10	issue	issue	NOUN
faba-154	1	11	1	1	NUM
faba-154	1	12	,	,	PUNCT
faba-154	1	13	2023	2023	NUM
faba-154	1	14	http://faba.bg/	http://faba.bg/	NOUN
faba-154	1	15	issn	issn	VERB
faba-154	1	16	2603	2603	NUM
faba-154	1	17	-	-	SYM
faba-154	1	18	5324	5324	NUM
faba-154	1	19	defined	define	VERB
faba-154	1	20	contribution	contribution	NOUN
faba-154	1	21	pension	pension	NOUN
faba-154	1	22	schemes	scheme	NOUN
faba-154	1	23	in	in	ADP
faba-154	1	24	central	central	ADJ
faba-154	1	25	and	and	CCONJ
faba-154	1	26	eastern	eastern	ADJ
faba-154	1	27	european	european	PROPN
faba-154	1	28	(	(	PUNCT
faba-154	1	29	cee	cee	PROPN
faba-154	1	30	)	)	PUNCT
faba-154	1	31	countries	country	NOUN
faba-154	1	32	–	–	PUNCT
faba-154	1	33	current	current	ADJ
faba-154	1	34	issues	issue	NOUN
faba-154	1	35	and	and	CCONJ
faba-154	1	36	future	future	ADJ
faba-154	1	37	perspectives	perspective	NOUN
faba-154	1	38	jeko	jeko	PROPN
faba-154	1	39	milev	milev	PROPN
faba-154	1	40	department	department	PROPN
faba-154	1	41	of	of	ADP
faba-154	1	42	finance	finance	NOUN
faba-154	1	43	,	,	PUNCT
faba-154	1	44	university	university	NOUN
faba-154	1	45	of	of	ADP
faba-154	1	46	national	national	ADJ
faba-154	1	47	and	and	CCONJ
faba-154	1	48	world	world	NOUN
faba-154	1	49	economy	economy	NOUN
faba-154	1	50	,	,	PUNCT
faba-154	1	51	sofia	sofia	PROPN
faba-154	1	52	,	,	PUNCT
faba-154	1	53	bulgaria	bulgaria	PROPN
faba-154	1	54	info	info	NOUN
faba-154	1	55	articles	article	NOUN
faba-154	1	56	abstract	abstract	ADJ
faba-154	1	57	history	history	NOUN
faba-154	1	58	article	article	NOUN
faba-154	1	59	:	:	PUNCT
faba-154	1	60	submitted	submit	VERB
faba-154	1	61	16	16	NUM
faba-154	1	62	may	may	AUX
faba-154	1	63	2023	2023	NUM
faba-154	1	64	revised	revise	VERB
faba-154	1	65	11	11	NUM
faba-154	1	66	june	june	PROPN
faba-154	1	67	2023	2023	NUM
faba-154	1	68	accepted	accept	VERB
faba-154	1	69	12	12	NUM
faba-154	1	70	june	june	PROPN
faba-154	1	71	2023	2023	NUM
faba-154	1	72	defined	define	VERB
faba-154	1	73	contribution	contribution	NOUN
faba-154	1	74	pension	pension	NOUN
faba-154	1	75	schemes	scheme	NOUN
faba-154	1	76	have	have	AUX
faba-154	1	77	become	become	VERB
faba-154	1	78	quite	quite	ADV
faba-154	1	79	popular	popular	ADJ
faba-154	1	80	throughout	throughout	ADP
faba-154	1	81	europe	europe	PROPN
faba-154	1	82	in	in	ADP
faba-154	1	83	the	the	DET
faba-154	1	84	last	last	ADJ
faba-154	1	85	20	20	NUM
faba-154	1	86	years	year	NOUN
faba-154	1	87	.	.	PUNCT
faba-154	2	1	many	many	ADJ
faba-154	2	2	countries	country	NOUN
faba-154	2	3	implemented	implement	VERB
faba-154	2	4	reforms	reform	NOUN
faba-154	2	5	trying	try	VERB
faba-154	2	6	to	to	PART
faba-154	2	7	address	address	VERB
faba-154	2	8	the	the	DET
faba-154	2	9	growing	grow	VERB
faba-154	2	10	concerns	concern	NOUN
faba-154	2	11	about	about	ADP
faba-154	2	12	the	the	DET
faba-154	2	13	pension	pension	NOUN
faba-154	2	14	systems	system	NOUN
faba-154	2	15	organized	organize	VERB
faba-154	2	16	mostly	mostly	ADV
faba-154	2	17	as	as	ADP
faba-154	2	18	pay	pay	NOUN
faba-154	2	19	-	-	PUNCT
faba-154	2	20	as	as	ADP
faba-154	2	21	-	-	PUNCT
faba-154	2	22	you	you	PRON
faba-154	2	23	-	-	PUNCT
faba-154	2	24	go	go	VERB
faba-154	2	25	structures	structure	NOUN
faba-154	2	26	in	in	ADP
faba-154	2	27	the	the	DET
faba-154	2	28	last	last	ADJ
faba-154	2	29	century	century	NOUN
faba-154	2	30	.	.	PUNCT
faba-154	3	1	adding	add	VERB
faba-154	3	2	fully	fully	ADV
faba-154	3	3	funded	fund	VERB
faba-154	3	4	components	component	NOUN
faba-154	3	5	into	into	ADP
faba-154	3	6	the	the	DET
faba-154	3	7	pension	pension	NOUN
faba-154	3	8	insurance	insurance	NOUN
faba-154	3	9	,	,	PUNCT
faba-154	3	10	governments	government	NOUN
faba-154	3	11	were	be	AUX
faba-154	3	12	trying	try	VERB
faba-154	3	13	to	to	PART
faba-154	3	14	mitigate	mitigate	VERB
faba-154	3	15	the	the	DET
faba-154	3	16	problems	problem	NOUN
faba-154	3	17	arising	arise	VERB
faba-154	3	18	from	from	ADP
faba-154	3	19	the	the	DET
faba-154	3	20	ongoing	ongoing	ADJ
faba-154	3	21	process	process	NOUN
faba-154	3	22	of	of	ADP
faba-154	3	23	population	population	NOUN
faba-154	3	24	aging	aging	NOUN
faba-154	3	25	and	and	CCONJ
faba-154	3	26	the	the	DET
faba-154	3	27	resulting	result	VERB
faba-154	3	28	unfavorable	unfavorable	ADJ
faba-154	3	29	demographic	demographic	ADJ
faba-154	3	30	trends	trend	NOUN
faba-154	3	31	in	in	ADP
faba-154	3	32	most	most	ADJ
faba-154	3	33	of	of	ADP
faba-154	3	34	the	the	DET
faba-154	3	35	countries	country	NOUN
faba-154	3	36	in	in	ADP
faba-154	3	37	europe	europe	PROPN
faba-154	3	38	.	.	PUNCT
faba-154	4	1	these	these	DET
faba-154	4	2	reforms	reform	NOUN
faba-154	4	3	were	be	AUX
faba-154	4	4	widespread	widespread	ADJ
faba-154	4	5	in	in	ADP
faba-154	4	6	central	central	ADJ
faba-154	4	7	and	and	CCONJ
faba-154	4	8	eastern	eastern	ADJ
faba-154	4	9	europe	europe	PROPN
faba-154	4	10	in	in	ADP
faba-154	4	11	the	the	DET
faba-154	4	12	late	late	ADJ
faba-154	4	13	1990	1990	NUM
faba-154	4	14	’s	’s	NOUN
faba-154	4	15	and	and	CCONJ
faba-154	4	16	early	early	ADJ
faba-154	4	17	2000	2000	NUM
faba-154	4	18	’s	’	VERB
faba-154	4	19	after	after	SCONJ
faba-154	4	20	the	the	DET
faba-154	4	21	influential	influential	ADJ
faba-154	4	22	report1	report1	NOUN
faba-154	4	23	published	publish	VERB
faba-154	4	24	by	by	ADP
faba-154	4	25	the	the	DET
faba-154	4	26	world	world	PROPN
faba-154	4	27	bank	bank	PROPN
faba-154	4	28	in	in	ADP
faba-154	4	29	1994	1994	NUM
faba-154	4	30	whose	whose	DET
faba-154	4	31	recommendations	recommendation	NOUN
faba-154	4	32	became	become	VERB
faba-154	4	33	cornerstones	cornerstone	NOUN
faba-154	4	34	of	of	ADP
faba-154	4	35	the	the	DET
faba-154	4	36	changes	change	NOUN
faba-154	4	37	introduced	introduce	VERB
faba-154	4	38	into	into	ADP
faba-154	4	39	the	the	DET
faba-154	4	40	pension	pension	NOUN
faba-154	4	41	systems	system	NOUN
faba-154	4	42	in	in	ADP
faba-154	4	43	the	the	DET
faba-154	4	44	region	region	NOUN
faba-154	4	45	.	.	PUNCT
faba-154	5	1	the	the	DET
faba-154	5	2	objective	objective	NOUN
faba-154	5	3	of	of	ADP
faba-154	5	4	the	the	DET
faba-154	5	5	current	current	ADJ
faba-154	5	6	paper	paper	NOUN
faba-154	5	7	is	be	AUX
faba-154	5	8	to	to	PART
faba-154	5	9	give	give	VERB
faba-154	5	10	some	some	DET
faba-154	5	11	insight	insight	NOUN
faba-154	5	12	into	into	ADP
faba-154	5	13	the	the	DET
faba-154	5	14	current	current	ADJ
faba-154	5	15	place	place	NOUN
faba-154	5	16	of	of	ADP
faba-154	5	17	the	the	DET
faba-154	5	18	defined	define	VERB
faba-154	5	19	contribution	contribution	NOUN
faba-154	5	20	pension	pension	NOUN
faba-154	5	21	schemes	scheme	NOUN
faba-154	5	22	in	in	ADP
faba-154	5	23	the	the	DET
faba-154	5	24	pension	pension	NOUN
faba-154	5	25	systems	system	NOUN
faba-154	5	26	in	in	ADP
faba-154	5	27	different	different	ADJ
faba-154	5	28	countries	country	NOUN
faba-154	5	29	in	in	ADP
faba-154	5	30	europe	europe	PROPN
faba-154	5	31	and	and	CCONJ
faba-154	5	32	their	their	PRON
faba-154	5	33	significance	significance	NOUN
faba-154	5	34	in	in	ADP
faba-154	5	35	the	the	DET
faba-154	5	36	next	next	ADJ
faba-154	5	37	decades	decade	NOUN
faba-154	5	38	.	.	PUNCT
faba-154	6	1	the	the	DET
faba-154	6	2	issue	issue	NOUN
faba-154	6	3	is	be	AUX
faba-154	6	4	substantial	substantial	ADJ
faba-154	6	5	,	,	PUNCT
faba-154	6	6	especially	especially	ADV
faba-154	6	7	in	in	ADP
faba-154	6	8	the	the	DET
faba-154	6	9	light	light	NOUN
faba-154	6	10	of	of	ADP
faba-154	6	11	the	the	DET
faba-154	6	12	continuous	continuous	ADJ
faba-154	6	13	inflation	inflation	NOUN
faba-154	6	14	and	and	CCONJ
faba-154	6	15	rising	rise	VERB
faba-154	6	16	pressure	pressure	NOUN
faba-154	6	17	on	on	ADP
faba-154	6	18	public	public	ADJ
faba-154	6	19	finances	finance	NOUN
faba-154	6	20	.	.	PUNCT
faba-154	7	1	long	long	ADJ
faba-154	7	2	term	term	NOUN
faba-154	7	3	sustainability	sustainability	NOUN
faba-154	7	4	of	of	ADP
faba-154	7	5	both	both	DET
faba-154	7	6	pension	pension	NOUN
faba-154	7	7	systems	system	NOUN
faba-154	7	8	and	and	CCONJ
faba-154	7	9	public	public	ADJ
faba-154	7	10	finances	finance	NOUN
faba-154	7	11	requires	require	VERB
faba-154	7	12	reforms	reform	NOUN
faba-154	7	13	that	that	PRON
faba-154	7	14	further	far	ADV
faba-154	7	15	support	support	VERB
faba-154	7	16	accumulation	accumulation	NOUN
faba-154	7	17	of	of	ADP
faba-154	7	18	resources	resource	NOUN
faba-154	7	19	in	in	ADP
faba-154	7	20	the	the	DET
faba-154	7	21	long	long	ADJ
faba-154	7	22	term	term	NOUN
faba-154	7	23	.	.	PUNCT
faba-154	8	1	the	the	DET
faba-154	8	2	first	first	ADJ
faba-154	8	3	part	part	NOUN
faba-154	8	4	of	of	ADP
faba-154	8	5	the	the	DET
faba-154	8	6	paper	paper	NOUN
faba-154	8	7	describes	describe	VERB
faba-154	8	8	the	the	DET
faba-154	8	9	current	current	ADJ
faba-154	8	10	condition	condition	NOUN
faba-154	8	11	of	of	ADP
faba-154	8	12	defined	define	VERB
faba-154	8	13	contribution	contribution	NOUN
faba-154	8	14	pension	pension	NOUN
faba-154	8	15	schemes	scheme	NOUN
faba-154	8	16	in	in	ADP
faba-154	8	17	9	9	NUM
faba-154	8	18	cee	cee	NOUN
faba-154	8	19	countries	country	NOUN
faba-154	8	20	,	,	PUNCT
faba-154	8	21	the	the	DET
faba-154	8	22	second	second	ADJ
faba-154	8	23	part	part	NOUN
faba-154	8	24	is	be	AUX
faba-154	8	25	dedicated	dedicate	VERB
faba-154	8	26	to	to	ADP
faba-154	8	27	some	some	DET
faba-154	8	28	common	common	ADJ
faba-154	8	29	problems	problem	NOUN
faba-154	8	30	of	of	ADP
faba-154	8	31	the	the	DET
faba-154	8	32	schemes	scheme	NOUN
faba-154	8	33	.	.	PUNCT
faba-154	9	1	the	the	DET
faba-154	9	2	paper	paper	NOUN
faba-154	9	3	concludes	conclude	VERB
faba-154	9	4	with	with	ADP
faba-154	9	5	some	some	DET
faba-154	9	6	recommendations	recommendation	NOUN
faba-154	9	7	for	for	ADP
faba-154	9	8	future	future	ADJ
faba-154	9	9	reforms	reform	NOUN
faba-154	9	10	.	.	PUNCT
faba-154	10	1	the	the	DET
faba-154	10	2	methodology	methodology	NOUN
faba-154	10	3	used	use	VERB
faba-154	10	4	in	in	ADP
faba-154	10	5	the	the	DET
faba-154	10	6	paper	paper	NOUN
faba-154	10	7	includes	include	VERB
faba-154	10	8	descriptive	descriptive	ADJ
faba-154	10	9	and	and	CCONJ
faba-154	10	10	comparative	comparative	ADJ
faba-154	10	11	analysis	analysis	NOUN
faba-154	10	12	,	,	PUNCT
faba-154	10	13	deductive	deductive	ADJ
faba-154	10	14	and	and	CCONJ
faba-154	10	15	inductive	inductive	ADJ
faba-154	10	16	approach	approach	NOUN
faba-154	10	17	.	.	PUNCT
faba-154	11	1	the	the	DET
faba-154	11	2	basic	basic	ADJ
faba-154	11	3	findings	finding	NOUN
faba-154	11	4	of	of	ADP
faba-154	11	5	the	the	DET
faba-154	11	6	research	research	NOUN
faba-154	11	7	show	show	NOUN
faba-154	11	8	that	that	SCONJ
faba-154	11	9	defined	define	VERB
faba-154	11	10	contribution	contribution	NOUN
faba-154	11	11	pension	pension	NOUN
faba-154	11	12	schemes	scheme	NOUN
faba-154	11	13	in	in	ADP
faba-154	11	14	cee	cee	NOUN
faba-154	11	15	countries	country	NOUN
faba-154	11	16	are	be	AUX
faba-154	11	17	exposed	expose	VERB
faba-154	11	18	to	to	ADP
faba-154	11	19	significant	significant	ADJ
faba-154	11	20	political	political	ADJ
faba-154	11	21	risk	risk	NOUN
faba-154	11	22	but	but	CCONJ
faba-154	11	23	they	they	PRON
faba-154	11	24	must	must	AUX
faba-154	11	25	be	be	AUX
faba-154	11	26	further	far	ADV
faba-154	11	27	supported	support	VERB
faba-154	11	28	and	and	CCONJ
faba-154	11	29	reformed	reform	VERB
faba-154	11	30	in	in	ADP
faba-154	11	31	the	the	DET
faba-154	11	32	continuous	continuous	ADJ
faba-154	11	33	process	process	NOUN
faba-154	11	34	of	of	ADP
faba-154	11	35	building	build	VERB
faba-154	11	36	sustainable	sustainable	ADJ
faba-154	11	37	and	and	CCONJ
faba-154	11	38	adequate	adequate	ADJ
faba-154	11	39	pension	pension	NOUN
faba-154	11	40	systems	system	NOUN
faba-154	11	41	in	in	ADP
faba-154	11	42	the	the	DET
faba-154	11	43	region	region	NOUN
faba-154	11	44	.	.	PUNCT
faba-154	12	1	keywords	keyword	NOUN
faba-154	12	2	:	:	PUNCT
faba-154	12	3	pension	pension	NOUN
faba-154	12	4	funds	fund	NOUN
faba-154	12	5	,	,	PUNCT
faba-154	12	6	pension	pension	NOUN
faba-154	12	7	reforms	reform	NOUN
faba-154	12	8	,	,	PUNCT
faba-154	12	9	risks	risk	NOUN
faba-154	12	10	,	,	PUNCT
faba-154	12	11	cee	cee	PROPN
faba-154	12	12	countries	countries	PROPN
faba-154	12	13	jel	jel	PROPN
faba-154	12	14	:	:	PUNCT
faba-154	12	15	g11	g11	PROPN
faba-154	12	16	,	,	PUNCT
faba-154	12	17	g12	g12	NOUN
faba-154	12	18	,	,	PUNCT
faba-154	12	19	g22	g22	NOUN
faba-154	12	20	,	,	PUNCT
faba-154	12	21	g23	g23	PROPN
faba-154	12	22	*	*	PUNCT
faba-154	12	23	address	address	NOUN
faba-154	12	24	correspondence	correspondence	NOUN
faba-154	12	25	:	:	PUNCT
faba-154	13	1	e	e	X
faba-154	13	2	-	-	NOUN
faba-154	13	3	mail	mail	NOUN
faba-154	13	4	:	:	PUNCT
faba-154	13	5	j.milev@unwe.bg	j.milev@unwe.bg	NOUN
faba-154	13	6	1	1	NUM
faba-154	13	7	world	world	NOUN
faba-154	13	8	bank	bank	NOUN
faba-154	13	9	.	.	PUNCT
faba-154	13	10	1994	1994	NUM
faba-154	13	11	.	.	PUNCT
faba-154	14	1	averting	avert	VERB
faba-154	14	2	the	the	DET
faba-154	14	3	old	old	ADJ
faba-154	14	4	age	age	NOUN
faba-154	14	5	crisis	crisis	NOUN
faba-154	14	6	:	:	PUNCT
faba-154	14	7	policies	policy	NOUN
faba-154	14	8	to	to	PART
faba-154	14	9	protect	protect	VERB
faba-154	14	10	the	the	DET
faba-154	14	11	old	old	ADJ
faba-154	14	12	and	and	CCONJ
faba-154	14	13	promote	promote	VERB
faba-154	14	14	growth	growth	NOUN
faba-154	14	15	.	.	PUNCT
faba-154	15	1	new	new	PROPN
faba-154	15	2	york	york	PROPN
faba-154	15	3	,	,	PUNCT
faba-154	15	4	n.y	n.y	PROPN
faba-154	15	5	.	.	PROPN
faba-154	15	6	:	:	PUNCT
faba-154	16	1	oxford	oxford	PROPN
faba-154	16	2	university	university	NOUN
faba-154	16	3	press	press	NOUN
faba-154	16	4	jeko	jeko	NOUN
faba-154	16	5	milev	milev	NOUN
faba-154	16	6	/	/	SYM
faba-154	16	7	finance	finance	NOUN
faba-154	16	8	,	,	PUNCT
faba-154	16	9	accounting	accounting	NOUN
faba-154	16	10	and	and	CCONJ
faba-154	16	11	business	business	NOUN
faba-154	16	12	analysis	analysis	NOUN
faba-154	16	13	,	,	PUNCT
faba-154	16	14	volume	volume	NOUN
faba-154	16	15	5	5	NUM
faba-154	16	16	,	,	PUNCT
faba-154	16	17	issue	issue	NOUN
faba-154	16	18	1	1	NUM
faba-154	16	19	,	,	PUNCT
faba-154	16	20	2023	2023	NUM
faba-154	16	21	71	71	NUM
faba-154	16	22	introduction	introduction	NOUN
faba-154	16	23	defined	define	VERB
faba-154	16	24	contribution	contribution	NOUN
faba-154	16	25	pension	pension	NOUN
faba-154	16	26	schemes	scheme	NOUN
faba-154	16	27	are	be	AUX
faba-154	16	28	a	a	DET
faba-154	16	29	specific	specific	ADJ
faba-154	16	30	way	way	NOUN
faba-154	16	31	of	of	ADP
faba-154	16	32	organizing	organize	VERB
faba-154	16	33	fully	fully	ADV
faba-154	16	34	funded	fund	VERB
faba-154	16	35	pension	pension	NOUN
faba-154	16	36	insurance	insurance	NOUN
faba-154	16	37	.	.	PUNCT
faba-154	17	1	they	they	PRON
faba-154	17	2	have	have	AUX
faba-154	17	3	been	be	AUX
faba-154	17	4	growing	grow	VERB
faba-154	17	5	in	in	ADP
faba-154	17	6	popularity	popularity	NOUN
faba-154	17	7	in	in	ADP
faba-154	17	8	the	the	DET
faba-154	17	9	last	last	ADJ
faba-154	17	10	20	20	NUM
faba-154	17	11	years	year	NOUN
faba-154	17	12	for	for	ADP
faba-154	17	13	many	many	ADJ
faba-154	17	14	reasons	reason	NOUN
faba-154	17	15	,	,	PUNCT
faba-154	17	16	but	but	CCONJ
faba-154	17	17	two	two	NUM
faba-154	17	18	of	of	ADP
faba-154	17	19	them	they	PRON
faba-154	17	20	are	be	AUX
faba-154	17	21	standing	stand	VERB
faba-154	17	22	out	out	ADP
faba-154	17	23	:	:	PUNCT
faba-154	17	24	the	the	DET
faba-154	17	25	reforms	reform	NOUN
faba-154	17	26	made	make	VERB
faba-154	17	27	in	in	ADP
faba-154	17	28	central	central	ADJ
faba-154	17	29	and	and	CCONJ
faba-154	17	30	eastern	eastern	ADJ
faba-154	17	31	european	european	ADJ
faba-154	17	32	countries	country	NOUN
faba-154	17	33	that	that	PRON
faba-154	17	34	supplemented	supplement	VERB
faba-154	17	35	the	the	DET
faba-154	17	36	pay	pay	NOUN
faba-154	17	37	-	-	PUNCT
faba-154	17	38	asyou	asyou	NOUN
faba-154	17	39	-	-	PUNCT
faba-154	17	40	go	go	NOUN
faba-154	17	41	pillars	pillar	NOUN
faba-154	17	42	with	with	ADP
faba-154	17	43	fully	fully	ADV
faba-154	17	44	funded	fund	VERB
faba-154	17	45	ones	one	NOUN
faba-154	17	46	and	and	CCONJ
faba-154	17	47	the	the	DET
faba-154	17	48	obvious	obvious	ADJ
faba-154	17	49	trend	trend	NOUN
faba-154	17	50	of	of	ADP
faba-154	17	51	transferring	transfer	VERB
faba-154	17	52	the	the	DET
faba-154	17	53	investment	investment	NOUN
faba-154	17	54	risk	risk	NOUN
faba-154	17	55	towards	towards	ADP
faba-154	17	56	the	the	DET
faba-154	17	57	insured	insure	VERB
faba-154	17	58	individuals	individual	NOUN
faba-154	17	59	observed	observe	VERB
faba-154	17	60	in	in	ADP
faba-154	17	61	pension	pension	NOUN
faba-154	17	62	insurance	insurance	NOUN
faba-154	17	63	in	in	ADP
faba-154	17	64	the	the	DET
faba-154	17	65	west	west	ADJ
faba-154	17	66	part	part	NOUN
faba-154	17	67	of	of	ADP
faba-154	17	68	the	the	DET
faba-154	17	69	continent	continent	NOUN
faba-154	17	70	.	.	PUNCT
faba-154	18	1	the	the	DET
faba-154	18	2	tendency	tendency	NOUN
faba-154	18	3	is	be	AUX
faba-154	18	4	easily	easily	ADV
faba-154	18	5	seen	see	VERB
faba-154	18	6	even	even	ADV
faba-154	18	7	in	in	ADP
faba-154	18	8	those	those	DET
faba-154	18	9	countries	country	NOUN
faba-154	18	10	with	with	ADP
faba-154	18	11	serious	serious	ADJ
faba-154	18	12	tradition	tradition	NOUN
faba-154	18	13	in	in	ADP
faba-154	18	14	pension	pension	NOUN
faba-154	18	15	insurance	insurance	NOUN
faba-154	18	16	,	,	PUNCT
faba-154	18	17	based	base	VERB
faba-154	18	18	on	on	ADP
faba-154	18	19	capital	capital	NOUN
faba-154	18	20	accumulation	accumulation	NOUN
faba-154	18	21	(	(	PUNCT
faba-154	18	22	the	the	DET
faba-154	18	23	uk	uk	PROPN
faba-154	18	24	and	and	CCONJ
faba-154	18	25	the	the	DET
faba-154	18	26	netherlands	netherlands	PROPN
faba-154	18	27	)	)	PUNCT
faba-154	18	28	.	.	PUNCT
faba-154	19	1	defined	define	VERB
faba-154	19	2	contribution	contribution	NOUN
faba-154	19	3	pension	pension	NOUN
faba-154	19	4	schemes	scheme	NOUN
faba-154	19	5	have	have	VERB
faba-154	19	6	several	several	ADJ
faba-154	19	7	specific	specific	ADJ
faba-154	19	8	features	feature	NOUN
faba-154	19	9	:	:	PUNCT
faba-154	19	10	first	first	ADV
faba-154	19	11	,	,	PUNCT
faba-154	19	12	insured	insure	VERB
faba-154	19	13	individuals	individual	NOUN
faba-154	19	14	and	and	CCONJ
faba-154	19	15	their	their	PRON
faba-154	19	16	employers	employer	NOUN
faba-154	19	17	pay	pay	VERB
faba-154	19	18	contributions	contribution	NOUN
faba-154	19	19	into	into	ADP
faba-154	19	20	individual	individual	ADJ
faba-154	19	21	accounts	account	NOUN
faba-154	19	22	;	;	PUNCT
faba-154	19	23	second	second	X
faba-154	19	24	,	,	PUNCT
faba-154	19	25	the	the	DET
faba-154	19	26	paid	pay	VERB
faba-154	19	27	contributions	contribution	NOUN
faba-154	19	28	are	be	AUX
faba-154	19	29	invested	invest	VERB
faba-154	19	30	into	into	ADP
faba-154	19	31	specific	specific	ADJ
faba-154	19	32	types	type	NOUN
faba-154	19	33	of	of	ADP
faba-154	19	34	financial	financial	ADJ
faba-154	19	35	assets	asset	NOUN
faba-154	19	36	;	;	PUNCT
faba-154	19	37	third	third	X
faba-154	19	38	,	,	PUNCT
faba-154	19	39	pension	pension	NOUN
faba-154	19	40	benefit	benefit	NOUN
faba-154	19	41	is	be	AUX
faba-154	19	42	determined	determine	VERB
faba-154	19	43	on	on	ADP
faba-154	19	44	the	the	DET
faba-154	19	45	basis	basis	NOUN
faba-154	19	46	of	of	ADP
faba-154	19	47	the	the	DET
faba-154	19	48	accumulated	accumulate	VERB
faba-154	19	49	amount	amount	NOUN
faba-154	19	50	into	into	ADP
faba-154	19	51	one	one	NUM
faba-154	19	52	’s	’s	PART
faba-154	19	53	personal	personal	ADJ
faba-154	19	54	account	account	NOUN
faba-154	19	55	at	at	ADP
faba-154	19	56	the	the	DET
faba-154	19	57	date	date	NOUN
faba-154	19	58	of	of	ADP
faba-154	19	59	retirement	retirement	NOUN
faba-154	19	60	.	.	PUNCT
faba-154	20	1	unlike	unlike	ADP
faba-154	20	2	the	the	DET
faba-154	20	3	defined	define	VERB
faba-154	20	4	benefit	benefit	NOUN
faba-154	20	5	pension	pension	NOUN
faba-154	20	6	schemes	scheme	NOUN
faba-154	20	7	,	,	PUNCT
faba-154	20	8	in	in	ADP
faba-154	20	9	which	which	PRON
faba-154	20	10	pension	pension	NOUN
faba-154	20	11	amount	amount	NOUN
faba-154	20	12	is	be	AUX
faba-154	20	13	estimated	estimate	VERB
faba-154	20	14	usually	usually	ADV
faba-154	20	15	as	as	ADP
faba-154	20	16	a	a	DET
faba-154	20	17	percentage	percentage	NOUN
faba-154	20	18	of	of	ADP
faba-154	20	19	the	the	DET
faba-154	20	20	final	final	ADJ
faba-154	20	21	salary	salary	NOUN
faba-154	20	22	,	,	PUNCT
faba-154	20	23	the	the	DET
faba-154	20	24	defined	define	VERB
faba-154	20	25	contribution	contribution	NOUN
faba-154	20	26	pension	pension	NOUN
faba-154	20	27	schemes	scheme	NOUN
faba-154	20	28	do	do	AUX
faba-154	20	29	not	not	PART
faba-154	20	30	give	give	VERB
faba-154	20	31	insight	insight	NOUN
faba-154	20	32	into	into	ADP
faba-154	20	33	the	the	DET
faba-154	20	34	future	future	ADJ
faba-154	20	35	benefit	benefit	NOUN
faba-154	20	36	.	.	PUNCT
faba-154	21	1	the	the	DET
faba-154	21	2	pension	pension	NOUN
faba-154	21	3	strongly	strongly	ADV
faba-154	21	4	depends	depend	VERB
faba-154	21	5	on	on	ADP
faba-154	21	6	the	the	DET
faba-154	21	7	sum	sum	NOUN
faba-154	21	8	accumulated	accumulate	VERB
faba-154	21	9	towards	towards	ADP
faba-154	21	10	the	the	DET
faba-154	21	11	end	end	NOUN
faba-154	21	12	of	of	ADP
faba-154	21	13	one	one	NUM
faba-154	21	14	’s	’s	PART
faba-154	21	15	professional	professional	ADJ
faba-154	21	16	career	career	NOUN
faba-154	21	17	.	.	PUNCT
faba-154	22	1	the	the	DET
faba-154	22	2	paid	pay	VERB
faba-154	22	3	contributions	contribution	NOUN
faba-154	22	4	,	,	PUNCT
faba-154	22	5	the	the	DET
faba-154	22	6	realized	realize	VERB
faba-154	22	7	yield	yield	NOUN
faba-154	22	8	and	and	CCONJ
faba-154	22	9	the	the	DET
faba-154	22	10	fees	fee	NOUN
faba-154	22	11	charged	charge	VERB
faba-154	22	12	by	by	ADP
faba-154	22	13	the	the	DET
faba-154	22	14	managing	manage	VERB
faba-154	22	15	company	company	NOUN
faba-154	22	16	are	be	AUX
faba-154	22	17	the	the	DET
faba-154	22	18	factors	factor	NOUN
faba-154	22	19	that	that	PRON
faba-154	22	20	affect	affect	VERB
faba-154	22	21	most	most	ADJ
faba-154	22	22	pension	pension	NOUN
faba-154	22	23	amount	amount	NOUN
faba-154	22	24	.	.	PUNCT
faba-154	23	1	the	the	DET
faba-154	23	2	insured	insure	VERB
faba-154	23	3	individuals	individual	NOUN
faba-154	23	4	bear	bear	VERB
faba-154	23	5	significant	significant	ADJ
faba-154	23	6	risks	risk	NOUN
faba-154	23	7	both	both	CCONJ
faba-154	23	8	in	in	ADP
faba-154	23	9	the	the	DET
faba-154	23	10	accumulation	accumulation	NOUN
faba-154	23	11	and	and	CCONJ
faba-154	23	12	in	in	ADP
faba-154	23	13	the	the	DET
faba-154	23	14	distribution	distribution	NOUN
faba-154	23	15	phase	phase	NOUN
faba-154	23	16	(	(	PUNCT
faba-154	23	17	blake	blake	NOUN
faba-154	23	18	2006	2006	NUM
faba-154	23	19	)	)	PUNCT
faba-154	23	20	.	.	PUNCT
faba-154	24	1	at	at	ADP
faba-154	24	2	the	the	DET
faba-154	24	3	same	same	ADJ
faba-154	24	4	time	time	NOUN
faba-154	24	5	the	the	DET
faba-154	24	6	so	so	ADV
faba-154	24	7	-	-	PUNCT
faba-154	24	8	called	call	VERB
faba-154	24	9	vested	vested	ADJ
faba-154	24	10	benefits2	benefits2	NOUN
faba-154	24	11	(	(	PUNCT
faba-154	24	12	rights	right	NOUN
faba-154	24	13	)	)	PUNCT
faba-154	24	14	are	be	AUX
faba-154	24	15	determined	determine	VERB
faba-154	24	16	much	much	ADV
faba-154	24	17	more	more	ADV
faba-154	24	18	easily	easily	ADV
faba-154	24	19	than	than	ADP
faba-154	24	20	the	the	DET
faba-154	24	21	corresponding	correspond	VERB
faba-154	24	22	amounts	amount	NOUN
faba-154	24	23	in	in	ADP
faba-154	24	24	a	a	DET
faba-154	24	25	defined	define	VERB
faba-154	24	26	benefit	benefit	NOUN
faba-154	24	27	scheme	scheme	NOUN
faba-154	24	28	.	.	PUNCT
faba-154	25	1	defined	define	VERB
faba-154	25	2	contribution	contribution	NOUN
faba-154	25	3	pension	pension	NOUN
faba-154	25	4	schemes	scheme	NOUN
faba-154	25	5	became	become	VERB
faba-154	25	6	popular	popular	ADJ
faba-154	25	7	in	in	ADP
faba-154	25	8	central	central	ADJ
faba-154	25	9	and	and	CCONJ
faba-154	25	10	eastern	eastern	ADJ
faba-154	25	11	european	european	ADJ
faba-154	25	12	countries	country	NOUN
faba-154	25	13	in	in	ADP
faba-154	25	14	the	the	DET
faba-154	25	15	late	late	ADJ
faba-154	25	16	1990	1990	NUM
faba-154	25	17	’s	’s	NOUN
faba-154	25	18	and	and	CCONJ
faba-154	25	19	early	early	ADJ
faba-154	25	20	2000	2000	NUM
faba-154	25	21	’s	’s	NOUN
faba-154	25	22	.	.	PUNCT
faba-154	26	1	they	they	PRON
faba-154	26	2	were	be	AUX
faba-154	26	3	seen	see	VERB
faba-154	26	4	as	as	ADP
faba-154	26	5	supplementary	supplementary	ADJ
faba-154	26	6	elements	element	NOUN
faba-154	26	7	of	of	ADP
faba-154	26	8	the	the	DET
faba-154	26	9	pay	pay	NOUN
faba-154	26	10	-	-	PUNCT
faba-154	26	11	as	as	ADP
faba-154	26	12	-	-	PUNCT
faba-154	26	13	you	you	PRON
faba-154	26	14	-	-	PUNCT
faba-154	26	15	go	go	VERB
faba-154	26	16	pillars	pillar	NOUN
faba-154	26	17	whose	whose	DET
faba-154	26	18	financial	financial	ADJ
faba-154	26	19	health	health	NOUN
faba-154	26	20	was	be	AUX
faba-154	26	21	expected	expect	VERB
faba-154	26	22	to	to	PART
faba-154	26	23	deteriorate	deteriorate	VERB
faba-154	26	24	in	in	ADP
faba-154	26	25	the	the	DET
faba-154	26	26	next	next	ADJ
faba-154	26	27	decades	decade	NOUN
faba-154	26	28	.	.	PUNCT
faba-154	27	1	the	the	DET
faba-154	27	2	governments	government	NOUN
faba-154	27	3	were	be	AUX
faba-154	27	4	trying	try	VERB
faba-154	27	5	to	to	PART
faba-154	27	6	respond	respond	VERB
faba-154	27	7	to	to	ADP
faba-154	27	8	the	the	DET
faba-154	27	9	negative	negative	ADJ
faba-154	27	10	trend	trend	NOUN
faba-154	27	11	of	of	ADP
faba-154	27	12	population	population	NOUN
faba-154	27	13	aging	aging	NOUN
faba-154	27	14	caused	cause	VERB
faba-154	27	15	by	by	ADP
faba-154	27	16	high	high	ADJ
faba-154	27	17	emigration	emigration	NOUN
faba-154	27	18	rates	rate	NOUN
faba-154	27	19	,	,	PUNCT
faba-154	27	20	decreasing	decrease	VERB
faba-154	27	21	fertility	fertility	NOUN
faba-154	27	22	rates	rate	NOUN
faba-154	27	23	and	and	CCONJ
faba-154	27	24	increasing	increase	VERB
faba-154	27	25	average	average	ADJ
faba-154	27	26	life	life	NOUN
faba-154	27	27	expectancy	expectancy	NOUN
faba-154	27	28	.	.	PUNCT
faba-154	28	1	the	the	DET
faba-154	28	2	expected	expect	VERB
faba-154	28	3	rise	rise	NOUN
faba-154	28	4	in	in	ADP
faba-154	28	5	dependency	dependency	NOUN
faba-154	28	6	ratios3	ratios3	NOUN
faba-154	28	7	meant	mean	VERB
faba-154	28	8	that	that	SCONJ
faba-154	28	9	pay	pay	VERB
faba-154	28	10	-	-	PUNCT
faba-154	28	11	as	as	ADP
faba-154	28	12	-	-	PUNCT
faba-154	28	13	you	you	PRON
faba-154	28	14	-	-	PUNCT
faba-154	28	15	go	go	VERB
faba-154	28	16	pension	pension	NOUN
faba-154	28	17	pillars	pillar	NOUN
faba-154	28	18	could	could	AUX
faba-154	28	19	exert	exert	VERB
faba-154	28	20	significant	significant	ADJ
faba-154	28	21	pressure	pressure	NOUN
faba-154	28	22	on	on	ADP
faba-154	28	23	public	public	ADJ
faba-154	28	24	finances	finance	NOUN
faba-154	28	25	in	in	ADP
faba-154	28	26	the	the	DET
faba-154	28	27	mid	mid	ADJ
faba-154	28	28	and	and	CCONJ
faba-154	28	29	in	in	ADP
faba-154	28	30	the	the	DET
faba-154	28	31	long	long	ADJ
faba-154	28	32	term	term	NOUN
faba-154	28	33	.	.	PUNCT
faba-154	29	1	the	the	DET
faba-154	29	2	fully	fully	ADV
faba-154	29	3	funded	fund	VERB
faba-154	29	4	pillars	pillar	NOUN
faba-154	29	5	of	of	ADP
faba-154	29	6	the	the	DET
faba-154	29	7	pension	pension	NOUN
faba-154	29	8	systems	system	NOUN
faba-154	29	9	were	be	AUX
faba-154	29	10	seen	see	VERB
faba-154	29	11	as	as	ADP
faba-154	29	12	beneficial	beneficial	ADJ
faba-154	29	13	for	for	ADP
faba-154	29	14	the	the	DET
faba-154	29	15	pension	pension	NOUN
faba-154	29	16	system	system	NOUN
faba-154	29	17	itself	itself	PRON
faba-154	29	18	but	but	CCONJ
faba-154	29	19	also	also	ADV
faba-154	29	20	for	for	ADP
faba-154	29	21	the	the	DET
faba-154	29	22	whole	whole	ADJ
faba-154	29	23	financial	financial	ADJ
faba-154	29	24	system	system	NOUN
faba-154	29	25	.	.	PUNCT
faba-154	30	1	there	there	PRON
faba-154	30	2	is	be	VERB
faba-154	30	3	evidence	evidence	NOUN
faba-154	30	4	of	of	ADP
faba-154	30	5	incentivizing	incentivize	VERB
faba-154	30	6	the	the	DET
faba-154	30	7	trade	trade	NOUN
faba-154	30	8	on	on	ADP
faba-154	30	9	the	the	DET
faba-154	30	10	domestic	domestic	ADJ
faba-154	30	11	capital	capital	NOUN
faba-154	30	12	markets	market	NOUN
faba-154	30	13	after	after	ADP
faba-154	30	14	introduction	introduction	NOUN
faba-154	30	15	of	of	ADP
faba-154	30	16	some	some	DET
faba-154	30	17	capital	capital	NOUN
faba-154	30	18	components	component	NOUN
faba-154	30	19	into	into	ADP
faba-154	30	20	the	the	DET
faba-154	30	21	pension	pension	NOUN
faba-154	30	22	system4	system4	NOUN
faba-154	30	23	.	.	PUNCT
faba-154	31	1	davis	davis	PROPN
faba-154	31	2	(	(	PUNCT
faba-154	31	3	1993	1993	NUM
faba-154	31	4	)	)	PUNCT
faba-154	31	5	also	also	ADV
faba-154	31	6	points	point	VERB
faba-154	31	7	out	out	ADP
faba-154	31	8	that	that	SCONJ
faba-154	31	9	pension	pension	NOUN
faba-154	31	10	funds	fund	NOUN
faba-154	31	11	,	,	PUNCT
faba-154	31	12	under	under	ADP
faba-154	31	13	certain	certain	ADJ
faba-154	31	14	assumptions	assumption	NOUN
faba-154	31	15	,	,	PUNCT
faba-154	31	16	can	can	AUX
faba-154	31	17	contribute	contribute	VERB
faba-154	31	18	effectively	effectively	ADV
faba-154	31	19	to	to	ADP
faba-154	31	20	the	the	DET
faba-154	31	21	development	development	NOUN
faba-154	31	22	of	of	ADP
faba-154	31	23	the	the	DET
faba-154	31	24	local	local	ADJ
faba-154	31	25	stock	stock	NOUN
faba-154	31	26	exchanges	exchange	NOUN
faba-154	31	27	.	.	PUNCT
faba-154	32	1	that	that	PRON
faba-154	32	2	was	be	AUX
faba-154	32	3	an	an	DET
faba-154	32	4	additional	additional	ADJ
faba-154	32	5	argument	argument	NOUN
faba-154	32	6	for	for	ADP
faba-154	32	7	the	the	DET
faba-154	32	8	introduction	introduction	NOUN
faba-154	32	9	of	of	ADP
faba-154	32	10	a	a	DET
faba-154	32	11	fully	fully	ADV
faba-154	32	12	funded	fund	VERB
faba-154	32	13	element	element	NOUN
faba-154	32	14	in	in	ADP
faba-154	32	15	the	the	DET
faba-154	32	16	pension	pension	NOUN
faba-154	32	17	systems	system	NOUN
faba-154	32	18	of	of	ADP
faba-154	32	19	countries	country	NOUN
faba-154	32	20	whose	whose	DET
faba-154	32	21	financial	financial	ADJ
faba-154	32	22	markets	market	NOUN
faba-154	32	23	needed	need	VERB
faba-154	32	24	a	a	DET
faba-154	32	25	booster	booster	NOUN
faba-154	32	26	to	to	PART
faba-154	32	27	start	start	VERB
faba-154	32	28	channeling	channel	VERB
faba-154	32	29	more	more	ADV
faba-154	32	30	efficiently	efficiently	ADV
faba-154	32	31	the	the	DET
faba-154	32	32	individual	individual	ADJ
faba-154	32	33	savings	saving	NOUN
faba-154	32	34	towards	towards	ADP
faba-154	32	35	business	business	NOUN
faba-154	32	36	.	.	PUNCT
faba-154	33	1	two	two	NUM
faba-154	33	2	decades	decade	NOUN
faba-154	33	3	after	after	SCONJ
faba-154	33	4	their	their	PRON
faba-154	33	5	introduction	introduction	NOUN
faba-154	33	6	,	,	PUNCT
faba-154	33	7	pension	pension	NOUN
faba-154	33	8	funds	fund	NOUN
faba-154	33	9	in	in	ADP
faba-154	33	10	central	central	ADJ
faba-154	33	11	and	and	CCONJ
faba-154	33	12	eastern	eastern	ADJ
faba-154	33	13	europe	europe	PROPN
faba-154	33	14	have	have	VERB
faba-154	33	15	different	different	ADJ
faba-154	33	16	destinies	destiny	NOUN
faba-154	33	17	in	in	ADP
faba-154	33	18	different	different	ADJ
faba-154	33	19	countries	country	NOUN
faba-154	33	20	.	.	PUNCT
faba-154	34	1	some	some	PRON
faba-154	34	2	of	of	ADP
faba-154	34	3	the	the	DET
faba-154	34	4	governments	government	NOUN
faba-154	34	5	made	make	VERB
faba-154	34	6	“	"	PUNCT
faba-154	34	7	reversal	reversal	NOUN
faba-154	34	8	”	"	PUNCT
faba-154	34	9	reforms5	reforms5	NOUN
faba-154	34	10	(	(	PUNCT
faba-154	34	11	hungary	hungary	NOUN
faba-154	34	12	and	and	CCONJ
faba-154	34	13	poland	poland	PROPN
faba-154	34	14	)	)	PUNCT
faba-154	34	15	,	,	PUNCT
faba-154	34	16	others	other	NOUN
faba-154	34	17	continued	continue	VERB
faba-154	34	18	to	to	PART
faba-154	34	19	support	support	VERB
faba-154	34	20	the	the	DET
faba-154	34	21	funded	fund	VERB
faba-154	34	22	component	component	NOUN
faba-154	34	23	and	and	CCONJ
faba-154	34	24	even	even	ADV
faba-154	34	25	adopted	adopt	VERB
faba-154	34	26	detailed	detailed	ADJ
faba-154	34	27	regulation	regulation	NOUN
faba-154	34	28	concerning	concern	VERB
faba-154	34	29	the	the	DET
faba-154	34	30	pay	pay	VERB
faba-154	34	31	-	-	PUNCT
faba-154	34	32	out	out	ADP
faba-154	34	33	phase	phase	NOUN
faba-154	34	34	(	(	PUNCT
faba-154	34	35	bulgaria	bulgaria	PROPN
faba-154	34	36	)	)	PUNCT
faba-154	34	37	.	.	PUNCT
faba-154	35	1	the	the	DET
faba-154	35	2	current	current	ADJ
faba-154	35	3	research	research	NOUN
faba-154	35	4	is	be	AUX
faba-154	35	5	trying	try	VERB
faba-154	35	6	to	to	PART
faba-154	35	7	shed	shed	VERB
faba-154	35	8	some	some	DET
faba-154	35	9	light	light	NOUN
faba-154	35	10	on	on	ADP
faba-154	35	11	the	the	DET
faba-154	35	12	development	development	NOUN
faba-154	35	13	of	of	ADP
faba-154	35	14	the	the	DET
faba-154	35	15	mandatory	mandatory	ADJ
faba-154	35	16	fully	fully	ADV
faba-154	35	17	funded	fund	VERB
faba-154	35	18	pillars	pillar	NOUN
faba-154	35	19	into	into	ADP
faba-154	35	20	the	the	DET
faba-154	35	21	pension	pension	NOUN
faba-154	35	22	systems	system	NOUN
faba-154	35	23	in	in	ADP
faba-154	35	24	central	central	ADJ
faba-154	35	25	and	and	CCONJ
faba-154	35	26	eastern	eastern	ADJ
faba-154	35	27	european	european	ADJ
faba-154	35	28	countries	country	NOUN
faba-154	35	29	and	and	CCONJ
faba-154	35	30	to	to	PART
faba-154	35	31	give	give	VERB
faba-154	35	32	insight	insight	NOUN
faba-154	35	33	into	into	ADP
faba-154	35	34	some	some	DET
faba-154	35	35	future	future	ADJ
faba-154	35	36	changes	change	NOUN
faba-154	35	37	needed	need	VERB
faba-154	35	38	to	to	PART
faba-154	35	39	strengthen	strengthen	VERB
faba-154	35	40	them	they	PRON
faba-154	35	41	.	.	PUNCT
faba-154	36	1	the	the	DET
faba-154	36	2	basic	basic	ADJ
faba-154	36	3	thesis	thesis	NOUN
faba-154	36	4	is	be	AUX
faba-154	36	5	that	that	SCONJ
faba-154	36	6	fully	fully	ADV
faba-154	36	7	funded	fund	VERB
faba-154	36	8	pillars	pillar	NOUN
faba-154	36	9	need	need	VERB
faba-154	36	10	further	further	ADJ
faba-154	36	11	support	support	NOUN
faba-154	36	12	and	and	CCONJ
faba-154	36	13	reforms	reform	NOUN
faba-154	36	14	in	in	ADP
faba-154	36	15	order	order	NOUN
faba-154	36	16	to	to	PART
faba-154	36	17	become	become	VERB
faba-154	36	18	those	those	DET
faba-154	36	19	elements	element	NOUN
faba-154	36	20	that	that	PRON
faba-154	36	21	can	can	AUX
faba-154	36	22	raise	raise	VERB
faba-154	36	23	sustainability	sustainability	NOUN
faba-154	36	24	and	and	CCONJ
faba-154	36	25	adequacy	adequacy	NOUN
faba-154	36	26	of	of	ADP
faba-154	36	27	the	the	DET
faba-154	36	28	pension	pension	NOUN
faba-154	36	29	systems	system	NOUN
faba-154	36	30	in	in	ADP
faba-154	36	31	the	the	DET
faba-154	36	32	region	region	NOUN
faba-154	36	33	.	.	PUNCT
faba-154	37	1	the	the	DET
faba-154	37	2	studies	study	NOUN
faba-154	37	3	in	in	ADP
faba-154	37	4	this	this	DET
faba-154	37	5	field	field	NOUN
faba-154	37	6	accomplished	accomplish	VERB
faba-154	37	7	in	in	ADP
faba-154	37	8	the	the	DET
faba-154	37	9	last	last	ADJ
faba-154	37	10	years	year	NOUN
faba-154	37	11	have	have	VERB
faba-154	37	12	some	some	DET
faba-154	37	13	controversial	controversial	ADJ
faba-154	37	14	results	result	NOUN
faba-154	37	15	.	.	PUNCT
faba-154	38	1	there	there	PRON
faba-154	38	2	is	be	VERB
faba-154	38	3	no	no	DET
faba-154	38	4	common	common	ADJ
faba-154	38	5	conclusion	conclusion	NOUN
faba-154	38	6	on	on	ADP
faba-154	38	7	the	the	DET
faba-154	38	8	problems	problem	NOUN
faba-154	38	9	that	that	PRON
faba-154	38	10	need	need	VERB
faba-154	38	11	to	to	PART
faba-154	38	12	be	be	AUX
faba-154	38	13	sorted	sort	VERB
faba-154	38	14	out	out	ADP
faba-154	38	15	in	in	ADP
faba-154	38	16	order	order	NOUN
faba-154	38	17	to	to	PART
faba-154	38	18	ensure	ensure	VERB
faba-154	38	19	the	the	DET
faba-154	38	20	success	success	NOUN
faba-154	38	21	of	of	ADP
faba-154	38	22	the	the	DET
faba-154	38	23	capital	capital	NOUN
faba-154	38	24	pension	pension	NOUN
faba-154	38	25	schemes	scheme	NOUN
faba-154	38	26	.	.	PUNCT
faba-154	39	1	bielawska	bielawska	PROPN
faba-154	39	2	(	(	PUNCT
faba-154	39	3	2013	2013	NUM
faba-154	39	4	)	)	PUNCT
faba-154	39	5	points	point	VERB
faba-154	39	6	out	out	ADP
faba-154	39	7	the	the	DET
faba-154	39	8	fiscal	fiscal	ADJ
faba-154	39	9	issues	issue	NOUN
faba-154	39	10	arising	arise	VERB
faba-154	39	11	after	after	ADP
faba-154	39	12	the	the	DET
faba-154	39	13	implementation	implementation	NOUN
faba-154	39	14	of	of	ADP
faba-154	39	15	the	the	DET
faba-154	39	16	pension	pension	NOUN
faba-154	39	17	reforms	reform	NOUN
faba-154	39	18	in	in	ADP
faba-154	39	19	hungary	hungary	PROPN
faba-154	39	20	and	and	CCONJ
faba-154	39	21	poland	poland	PROPN
faba-154	39	22	.	.	PUNCT
faba-154	40	1	the	the	DET
faba-154	40	2	transitional	transitional	ADJ
faba-154	40	3	costs	cost	NOUN
faba-154	40	4	from	from	ADP
faba-154	40	5	purely	purely	ADV
faba-154	40	6	payg	payg	NOUN
faba-154	40	7	pension	pension	NOUN
faba-154	40	8	system	system	NOUN
faba-154	40	9	to	to	PART
faba-154	40	10	mixed	mixed	VERB
faba-154	40	11	one	one	NUM
faba-154	40	12	(	(	PUNCT
faba-154	40	13	pay	pay	NOUN
faba-154	40	14	-	-	PUNCT
faba-154	40	15	as	as	ADP
faba-154	40	16	-	-	PUNCT
faba-154	40	17	yougo	yougo	NOUN
faba-154	40	18	and	and	CCONJ
faba-154	40	19	fully	fully	ADV
faba-154	40	20	funded	fund	VERB
faba-154	40	21	)	)	PUNCT
faba-154	40	22	are	be	AUX
faba-154	40	23	seen	see	VERB
faba-154	40	24	as	as	ADP
faba-154	40	25	one	one	NUM
faba-154	40	26	of	of	ADP
faba-154	40	27	the	the	DET
faba-154	40	28	basic	basic	ADJ
faba-154	40	29	reasons	reason	NOUN
faba-154	40	30	for	for	ADP
faba-154	40	31	implementing	implement	VERB
faba-154	40	32	reversal	reversal	NOUN
faba-154	40	33	reforms	reform	NOUN
faba-154	40	34	in	in	ADP
faba-154	40	35	both	both	DET
faba-154	40	36	countries	country	NOUN
faba-154	40	37	.	.	PUNCT
faba-154	41	1	sebo	sebo	NOUN
faba-154	41	2	and	and	CCONJ
faba-154	41	3	virdzek	virdzek	PROPN
faba-154	41	4	(	(	PUNCT
faba-154	41	5	2013	2013	NUM
faba-154	41	6	)	)	PUNCT
faba-154	41	7	put	put	VERB
faba-154	41	8	special	special	ADJ
faba-154	41	9	accent	accent	NOUN
faba-154	41	10	to	to	ADP
faba-154	41	11	the	the	DET
faba-154	41	12	political	political	ADJ
faba-154	41	13	risk	risk	NOUN
faba-154	41	14	as	as	ADP
faba-154	41	15	a	a	DET
faba-154	41	16	crucial	crucial	ADJ
faba-154	41	17	factor	factor	NOUN
faba-154	41	18	for	for	ADP
faba-154	41	19	the	the	DET
faba-154	41	20	investment	investment	NOUN
faba-154	41	21	performance	performance	NOUN
faba-154	41	22	of	of	ADP
faba-154	41	23	the	the	DET
faba-154	41	24	defined	define	VERB
faba-154	41	25	contribution	contribution	NOUN
faba-154	41	26	pension	pension	NOUN
faba-154	41	27	schemes	scheme	NOUN
faba-154	41	28	in	in	ADP
faba-154	41	29	slovakia	slovakia	PROPN
faba-154	41	30	.	.	PUNCT
faba-154	42	1	the	the	DET
faba-154	42	2	return	return	NOUN
faba-154	42	3	realized	realize	VERB
faba-154	42	4	by	by	ADP
faba-154	42	5	the	the	DET
faba-154	42	6	pension	pension	NOUN
faba-154	42	7	funds	fund	NOUN
faba-154	42	8	operating	operate	VERB
faba-154	42	9	such	such	ADJ
faba-154	42	10	schemes	scheme	NOUN
faba-154	42	11	is	be	AUX
faba-154	42	12	an	an	DET
faba-154	42	13	important	important	ADJ
faba-154	42	14	element	element	NOUN
faba-154	42	15	for	for	ADP
faba-154	42	16	ensuring	ensure	VERB
faba-154	42	17	public	public	ADJ
faba-154	42	18	support	support	NOUN
faba-154	42	19	for	for	ADP
faba-154	42	20	future	future	ADJ
faba-154	42	21	reforms	reform	NOUN
faba-154	42	22	.	.	PUNCT
faba-154	43	1	szczepanski	szczepanski	NOUN
faba-154	43	2	and	and	CCONJ
faba-154	43	3	brzeczek	brzeczek	X
faba-154	43	4	(	(	PUNCT
faba-154	43	5	2013	2013	NUM
faba-154	43	6	)	)	PUNCT
faba-154	43	7	in	in	ADP
faba-154	43	8	addition	addition	NOUN
faba-154	43	9	to	to	ADP
faba-154	43	10	the	the	DET
faba-154	43	11	investment	investment	NOUN
faba-154	43	12	performance	performance	NOUN
faba-154	43	13	show	show	VERB
faba-154	43	14	that	that	SCONJ
faba-154	43	15	specific	specific	ADJ
faba-154	43	16	risk	risk	NOUN
faba-154	43	17	may	may	AUX
faba-154	43	18	arise	arise	VERB
faba-154	43	19	from	from	ADP
faba-154	43	20	typical	typical	ADJ
faba-154	43	21	principal	principal	ADJ
faba-154	43	22	-	-	PUNCT
faba-154	43	23	agent	agent	NOUN
faba-154	43	24	problem	problem	NOUN
faba-154	43	25	in	in	ADP
faba-154	43	26	pension	pension	NOUN
faba-154	43	27	insurance	insurance	NOUN
faba-154	43	28	which	which	PRON
faba-154	43	29	means	mean	VERB
faba-154	43	30	that	that	SCONJ
faba-154	43	31	pension	pension	NOUN
faba-154	43	32	fund	fund	NOUN
faba-154	43	33	managers	manager	NOUN
faba-154	43	34	can	can	AUX
faba-154	43	35	act	act	VERB
faba-154	43	36	not	not	PART
faba-154	43	37	in	in	ADP
faba-154	43	38	the	the	DET
faba-154	43	39	best	good	ADJ
faba-154	43	40	interest	interest	NOUN
faba-154	43	41	of	of	ADP
faba-154	43	42	the	the	DET
faba-154	43	43	members	member	NOUN
faba-154	43	44	of	of	ADP
faba-154	43	45	the	the	DET
faba-154	43	46	scheme	scheme	NOUN
faba-154	43	47	.	.	PUNCT
faba-154	44	1	right	right	ADJ
faba-154	44	2	regulation	regulation	NOUN
faba-154	44	3	is	be	AUX
faba-154	44	4	seen	see	VERB
faba-154	44	5	as	as	ADP
faba-154	44	6	crucial	crucial	ADJ
faba-154	44	7	for	for	ADP
faba-154	44	8	decreasing	decrease	VERB
faba-154	44	9	this	this	DET
faba-154	44	10	type	type	NOUN
faba-154	44	11	of	of	ADP
faba-154	44	12	risk	risk	NOUN
faba-154	44	13	especially	especially	ADV
faba-154	44	14	when	when	SCONJ
faba-154	44	15	pension	pension	NOUN
faba-154	44	16	scheme	scheme	NOUN
faba-154	44	17	is	be	AUX
faba-154	44	18	compulsory	compulsory	ADJ
faba-154	44	19	.	.	PUNCT
faba-154	45	1	at	at	ADP
faba-154	45	2	the	the	DET
faba-154	45	3	same	same	ADJ
faba-154	45	4	time	time	NOUN
faba-154	45	5	different	different	ADJ
faba-154	45	6	research	research	NOUN
faba-154	45	7	paper	paper	NOUN
faba-154	45	8	of	of	ADP
faba-154	45	9	the	the	DET
faba-154	45	10	european	european	PROPN
faba-154	45	11	commission	commission	PROPN
faba-154	45	12	(	(	PUNCT
faba-154	45	13	2010	2010	NUM
faba-154	45	14	;	;	PUNCT
faba-154	45	15	2012	2012	NUM
faba-154	45	16	;	;	PUNCT
faba-154	45	17	2018	2018	NUM
faba-154	45	18	;	;	PUNCT
faba-154	45	19	2021a	2021a	NUM
faba-154	45	20	)	)	PUNCT
faba-154	45	21	show	show	VERB
faba-154	45	22	a	a	DET
faba-154	45	23	persistent	persistent	ADJ
faba-154	45	24	trend	trend	NOUN
faba-154	45	25	of	of	ADP
faba-154	45	26	2	2	NUM
faba-154	45	27	vested	vested	ADJ
faba-154	45	28	benefit	benefit	NOUN
faba-154	45	29	is	be	AUX
faba-154	45	30	the	the	DET
faba-154	45	31	amount	amount	NOUN
faba-154	45	32	the	the	DET
faba-154	45	33	insured	insure	VERB
faba-154	45	34	could	could	AUX
faba-154	45	35	transfer	transfer	VERB
faba-154	45	36	into	into	ADP
faba-154	45	37	another	another	DET
faba-154	45	38	pension	pension	NOUN
faba-154	45	39	fund	fund	NOUN
faba-154	45	40	before	before	ADP
faba-154	45	41	reaching	reach	VERB
faba-154	45	42	retirement	retirement	NOUN
faba-154	45	43	age	age	NOUN
faba-154	45	44	.	.	PUNCT
faba-154	46	1	3	3	NUM
faba-154	46	2	dependency	dependency	NOUN
faba-154	46	3	ratio	ratio	NOUN
faba-154	46	4	measures	measure	NOUN
faba-154	46	5	the	the	DET
faba-154	46	6	ratio	ratio	NOUN
faba-154	46	7	between	between	ADP
faba-154	46	8	those	those	DET
faba-154	46	9	individuals	individual	NOUN
faba-154	46	10	aged	age	VERB
faba-154	46	11	over	over	ADP
faba-154	46	12	65	65	NUM
faba-154	46	13	and	and	CCONJ
faba-154	46	14	those	those	PRON
faba-154	46	15	in	in	ADP
faba-154	46	16	working	work	VERB
faba-154	46	17	age	age	NOUN
faba-154	46	18	.	.	PUNCT
faba-154	47	1	4	4	NUM
faba-154	47	2	there	there	PRON
faba-154	47	3	is	be	VERB
faba-154	47	4	such	such	ADJ
faba-154	47	5	evidence	evidence	NOUN
faba-154	47	6	for	for	ADP
faba-154	47	7	the	the	DET
faba-154	47	8	chilean	chilean	ADJ
faba-154	47	9	stock	stock	NOUN
faba-154	47	10	market	market	NOUN
faba-154	47	11	,	,	PUNCT
faba-154	47	12	where	where	SCONJ
faba-154	47	13	the	the	DET
faba-154	47	14	trade	trade	NOUN
faba-154	47	15	volume	volume	NOUN
faba-154	47	16	increased	increase	VERB
faba-154	47	17	several	several	ADJ
faba-154	47	18	times	time	NOUN
faba-154	47	19	just	just	ADV
faba-154	47	20	in	in	ADP
faba-154	47	21	a	a	DET
faba-154	47	22	few	few	ADJ
faba-154	47	23	years	year	NOUN
faba-154	47	24	after	after	SCONJ
faba-154	47	25	the	the	DET
faba-154	47	26	big	big	ADJ
faba-154	47	27	pension	pension	NOUN
faba-154	47	28	reform	reform	NOUN
faba-154	47	29	in	in	ADP
faba-154	47	30	1980	1980	NUM
faba-154	47	31	’s	’s	PART
faba-154	47	32	5	5	NUM
faba-154	47	33	reversal	reversal	NOUN
faba-154	47	34	reform	reform	NOUN
faba-154	47	35	is	be	AUX
faba-154	47	36	a	a	DET
faba-154	47	37	change	change	NOUN
faba-154	47	38	in	in	ADP
faba-154	47	39	the	the	DET
faba-154	47	40	pension	pension	NOUN
faba-154	47	41	system	system	NOUN
faba-154	47	42	that	that	PRON
faba-154	47	43	destroys	destroy	VERB
faba-154	47	44	the	the	DET
faba-154	47	45	mandatory	mandatory	ADJ
faba-154	47	46	fully	fully	ADV
faba-154	47	47	funded	fund	VERB
faba-154	47	48	component	component	NOUN
faba-154	47	49	into	into	ADP
faba-154	47	50	the	the	DET
faba-154	47	51	pension	pension	NOUN
faba-154	47	52	system	system	NOUN
faba-154	47	53	.	.	PUNCT
faba-154	48	1	such	such	ADJ
faba-154	48	2	reforms	reform	NOUN
faba-154	48	3	were	be	AUX
faba-154	48	4	made	make	VERB
faba-154	48	5	in	in	ADP
faba-154	48	6	hungary	hungary	PROPN
faba-154	48	7	(	(	PUNCT
faba-154	48	8	2011	2011	NUM
faba-154	48	9	)	)	PUNCT
faba-154	48	10	and	and	CCONJ
faba-154	48	11	in	in	ADP
faba-154	48	12	poland	poland	PROPN
faba-154	48	13	(	(	PUNCT
faba-154	48	14	2014	2014	NUM
faba-154	48	15	)	)	PUNCT
faba-154	48	16	jeko	jeko	NOUN
faba-154	48	17	milev	milev	NOUN
faba-154	48	18	/	/	SYM
faba-154	48	19	finance	finance	NOUN
faba-154	48	20	,	,	PUNCT
faba-154	48	21	accounting	accounting	NOUN
faba-154	48	22	and	and	CCONJ
faba-154	48	23	business	business	NOUN
faba-154	48	24	analysis	analysis	NOUN
faba-154	48	25	,	,	PUNCT
faba-154	48	26	volume	volume	NOUN
faba-154	48	27	5	5	NUM
faba-154	48	28	,	,	PUNCT
faba-154	48	29	issue	issue	NOUN
faba-154	48	30	1	1	NUM
faba-154	48	31	,	,	PUNCT
faba-154	48	32	2023	2023	NUM
faba-154	48	33	72	72	NUM
faba-154	48	34	increasing	increase	VERB
faba-154	48	35	asset	asset	NOUN
faba-154	48	36	value	value	NOUN
faba-154	48	37	and	and	CCONJ
faba-154	48	38	number	number	NOUN
faba-154	48	39	of	of	ADP
faba-154	48	40	insured	insure	VERB
faba-154	48	41	individuals	individual	NOUN
faba-154	48	42	in	in	ADP
faba-154	48	43	the	the	DET
faba-154	48	44	fully	fully	ADV
faba-154	48	45	funded	fund	VERB
faba-154	48	46	pillars	pillar	NOUN
faba-154	48	47	of	of	ADP
faba-154	48	48	the	the	DET
faba-154	48	49	pension	pension	NOUN
faba-154	48	50	systems	system	NOUN
faba-154	48	51	throughout	throughout	ADP
faba-154	48	52	european	european	PROPN
faba-154	48	53	union	union	PROPN
faba-154	48	54	(	(	PUNCT
faba-154	48	55	eu	eu	PROPN
faba-154	48	56	)	)	PUNCT
faba-154	48	57	.	.	PUNCT
faba-154	49	1	some	some	PRON
faba-154	49	2	of	of	ADP
faba-154	49	3	the	the	DET
faba-154	49	4	reasons	reason	NOUN
faba-154	49	5	behind	behind	ADP
faba-154	49	6	the	the	DET
faba-154	49	7	observed	observed	ADJ
faba-154	49	8	trend	trend	NOUN
faba-154	49	9	are	be	AUX
faba-154	49	10	related	relate	VERB
faba-154	49	11	to	to	ADP
faba-154	49	12	the	the	DET
faba-154	49	13	expected	expect	VERB
faba-154	49	14	rising	rise	VERB
faba-154	49	15	pressure	pressure	NOUN
faba-154	49	16	on	on	ADP
faba-154	49	17	public	public	ADJ
faba-154	49	18	finances	finance	NOUN
faba-154	49	19	due	due	ADP
faba-154	49	20	to	to	ADP
faba-154	49	21	the	the	DET
faba-154	49	22	aging	aging	NOUN
faba-154	49	23	of	of	ADP
faba-154	49	24	the	the	DET
faba-154	49	25	population	population	NOUN
faba-154	49	26	and	and	CCONJ
faba-154	49	27	the	the	DET
faba-154	49	28	deteriorating	deteriorate	VERB
faba-154	49	29	demographic	demographic	ADJ
faba-154	49	30	structures	structure	NOUN
faba-154	49	31	in	in	ADP
faba-154	49	32	almost	almost	ADV
faba-154	49	33	all	all	PRON
faba-154	49	34	of	of	ADP
faba-154	49	35	the	the	DET
faba-154	49	36	countries	country	NOUN
faba-154	49	37	in	in	ADP
faba-154	49	38	eu	eu	PROPN
faba-154	49	39	.	.	PUNCT
faba-154	50	1	the	the	DET
faba-154	50	2	first	first	ADJ
faba-154	50	3	part	part	NOUN
faba-154	50	4	of	of	ADP
faba-154	50	5	the	the	DET
faba-154	50	6	research	research	NOUN
faba-154	50	7	is	be	AUX
faba-154	50	8	dedicated	dedicate	VERB
faba-154	50	9	to	to	ADP
faba-154	50	10	the	the	DET
faba-154	50	11	actual	actual	ADJ
faba-154	50	12	structure	structure	NOUN
faba-154	50	13	of	of	ADP
faba-154	50	14	the	the	DET
faba-154	50	15	pension	pension	NOUN
faba-154	50	16	systems	system	NOUN
faba-154	50	17	in	in	ADP
faba-154	50	18	all	all	DET
faba-154	50	19	those	those	DET
faba-154	50	20	countries	country	NOUN
faba-154	50	21	that	that	PRON
faba-154	50	22	made	make	VERB
faba-154	50	23	reforms	reform	NOUN
faba-154	50	24	following	follow	VERB
faba-154	50	25	the	the	DET
faba-154	50	26	model	model	NOUN
faba-154	50	27	of	of	ADP
faba-154	50	28	the	the	DET
faba-154	50	29	world	world	PROPN
faba-154	50	30	bank	bank	PROPN
faba-154	50	31	.	.	PUNCT
faba-154	51	1	the	the	DET
faba-154	51	2	second	second	ADJ
faba-154	51	3	part	part	NOUN
faba-154	51	4	is	be	AUX
faba-154	51	5	trying	try	VERB
faba-154	51	6	to	to	PART
faba-154	51	7	classify	classify	VERB
faba-154	51	8	some	some	DET
faba-154	51	9	common	common	ADJ
faba-154	51	10	trends	trend	NOUN
faba-154	51	11	and	and	CCONJ
faba-154	51	12	to	to	PART
faba-154	51	13	outline	outline	VERB
faba-154	51	14	some	some	PRON
faba-154	51	15	of	of	ADP
faba-154	51	16	the	the	DET
faba-154	51	17	risks	risk	NOUN
faba-154	51	18	related	relate	VERB
faba-154	51	19	to	to	ADP
faba-154	51	20	them	they	PRON
faba-154	51	21	.	.	PUNCT
faba-154	52	1	in	in	ADP
faba-154	52	2	conclusion	conclusion	NOUN
faba-154	52	3	recommendations	recommendation	NOUN
faba-154	52	4	are	be	AUX
faba-154	52	5	made	make	VERB
faba-154	52	6	for	for	ADP
faba-154	52	7	some	some	DET
faba-154	52	8	future	future	ADJ
faba-154	52	9	reforms	reform	NOUN
faba-154	52	10	.	.	PUNCT
faba-154	53	1	the	the	DET
faba-154	53	2	mandatory	mandatory	ADJ
faba-154	53	3	defined	define	VERB
faba-154	53	4	contribution	contribution	NOUN
faba-154	53	5	pension	pension	NOUN
faba-154	53	6	schemes	scheme	NOUN
faba-154	53	7	in	in	ADP
faba-154	53	8	central	central	ADJ
faba-154	53	9	and	and	CCONJ
faba-154	53	10	eastern	eastern	ADJ
faba-154	53	11	europe	europe	PROPN
faba-154	53	12	in	in	ADP
faba-154	53	13	the	the	DET
faba-154	53	14	mid	mid	ADJ
faba-154	53	15	1990	1990	NUM
faba-154	53	16	’s	’s	NOUN
faba-154	53	17	the	the	DET
faba-154	53	18	world	world	PROPN
faba-154	53	19	bank	bank	PROPN
faba-154	53	20	published	publish	VERB
faba-154	53	21	a	a	DET
faba-154	53	22	report	report	NOUN
faba-154	53	23	that	that	PRON
faba-154	53	24	strongly	strongly	ADV
faba-154	53	25	recommends	recommend	VERB
faba-154	53	26	structural	structural	ADJ
faba-154	53	27	reforms	reform	NOUN
faba-154	53	28	of	of	ADP
faba-154	53	29	the	the	DET
faba-154	53	30	pension	pension	NOUN
faba-154	53	31	systems	system	NOUN
faba-154	53	32	around	around	ADP
faba-154	53	33	the	the	DET
faba-154	53	34	world	world	NOUN
faba-154	53	35	.	.	PUNCT
faba-154	54	1	at	at	ADP
faba-154	54	2	the	the	DET
faba-154	54	3	center	center	NOUN
faba-154	54	4	of	of	ADP
faba-154	54	5	the	the	DET
faba-154	54	6	reforms	reform	NOUN
faba-154	54	7	was	be	AUX
faba-154	54	8	put	put	VERB
faba-154	54	9	the	the	DET
faba-154	54	10	multi	multi	ADJ
faba-154	54	11	pillar	pillar	NOUN
faba-154	54	12	approach	approach	NOUN
faba-154	54	13	that	that	PRON
faba-154	54	14	combines	combine	VERB
faba-154	54	15	the	the	DET
faba-154	54	16	pay	pay	VERB
faba-154	54	17	-	-	PUNCT
faba-154	54	18	as	as	SCONJ
faba-154	54	19	-	-	PUNCT
faba-154	54	20	you	you	PRON
faba-154	54	21	-	-	PUNCT
faba-154	54	22	go	go	VERB
faba-154	54	23	principle	principle	NOUN
faba-154	54	24	with	with	ADP
faba-154	54	25	the	the	DET
faba-154	54	26	fully	fully	ADV
faba-154	54	27	funded	fund	VERB
faba-154	54	28	one	one	NUM
faba-154	54	29	.	.	PUNCT
faba-154	55	1	the	the	DET
faba-154	55	2	obvious	obvious	ADJ
faba-154	55	3	trend	trend	NOUN
faba-154	55	4	of	of	ADP
faba-154	55	5	increasing	increase	VERB
faba-154	55	6	life	life	NOUN
faba-154	55	7	expectancy	expectancy	NOUN
faba-154	55	8	and	and	CCONJ
faba-154	55	9	decreasing	decrease	VERB
faba-154	55	10	fertility	fertility	NOUN
faba-154	55	11	rates	rate	NOUN
faba-154	55	12	was	be	AUX
faba-154	55	13	expected	expect	VERB
faba-154	55	14	to	to	PART
faba-154	55	15	cause	cause	VERB
faba-154	55	16	gradual	gradual	ADJ
faba-154	55	17	aging	aging	NOUN
faba-154	55	18	of	of	ADP
faba-154	55	19	the	the	DET
faba-154	55	20	population	population	NOUN
faba-154	55	21	and	and	CCONJ
faba-154	55	22	increasing	increase	VERB
faba-154	55	23	strain	strain	NOUN
faba-154	55	24	on	on	ADP
faba-154	55	25	the	the	DET
faba-154	55	26	pension	pension	NOUN
faba-154	55	27	systems	system	NOUN
faba-154	55	28	based	base	VERB
faba-154	55	29	primarily	primarily	ADV
faba-154	55	30	on	on	ADP
faba-154	55	31	pay	pay	NOUN
faba-154	55	32	-	-	PUNCT
faba-154	55	33	as	as	ADP
faba-154	55	34	-	-	PUNCT
faba-154	55	35	you	you	PRON
faba-154	55	36	-	-	PUNCT
faba-154	55	37	go	go	VERB
faba-154	55	38	principle	principle	NOUN
faba-154	55	39	.	.	PUNCT
faba-154	56	1	the	the	DET
faba-154	56	2	parametric	parametric	ADJ
faba-154	56	3	reforms	reform	NOUN
faba-154	56	4	(	(	PUNCT
faba-154	56	5	increasing	increase	VERB
faba-154	56	6	pension	pension	NOUN
faba-154	56	7	age	age	NOUN
faba-154	56	8	,	,	PUNCT
faba-154	56	9	limiting	limit	VERB
faba-154	56	10	early	early	ADJ
faba-154	56	11	retirement	retirement	NOUN
faba-154	56	12	options	option	NOUN
faba-154	56	13	,	,	PUNCT
faba-154	56	14	etc	etc	X
faba-154	56	15	.	.	X
faba-154	56	16	)	)	PUNCT
faba-154	56	17	applied	apply	VERB
faba-154	56	18	to	to	ADP
faba-154	56	19	the	the	DET
faba-154	56	20	state	state	NOUN
faba-154	56	21	pension	pension	NOUN
faba-154	56	22	schemes	scheme	NOUN
faba-154	56	23	were	be	AUX
faba-154	56	24	considered	consider	VERB
faba-154	56	25	as	as	ADP
faba-154	56	26	insufficient	insufficient	ADJ
faba-154	56	27	for	for	ADP
faba-154	56	28	promoting	promote	VERB
faba-154	56	29	long	long	ADJ
faba-154	56	30	term	term	NOUN
faba-154	56	31	sustainability	sustainability	NOUN
faba-154	56	32	and	and	CCONJ
faba-154	56	33	adequacy	adequacy	NOUN
faba-154	56	34	of	of	ADP
faba-154	56	35	pension	pension	NOUN
faba-154	56	36	incomes	income	NOUN
faba-154	56	37	.	.	PUNCT
faba-154	57	1	the	the	DET
faba-154	57	2	introduction	introduction	NOUN
faba-154	57	3	of	of	ADP
faba-154	57	4	fully	fully	ADV
faba-154	57	5	funded	fund	VERB
faba-154	57	6	elements	element	NOUN
faba-154	57	7	into	into	ADP
faba-154	57	8	the	the	DET
faba-154	57	9	pension	pension	NOUN
faba-154	57	10	systems	system	NOUN
faba-154	57	11	was	be	AUX
faba-154	57	12	seen	see	VERB
faba-154	57	13	as	as	ADP
faba-154	57	14	a	a	DET
faba-154	57	15	possibility	possibility	NOUN
faba-154	57	16	to	to	PART
faba-154	57	17	strengthen	strengthen	VERB
faba-154	57	18	the	the	DET
faba-154	57	19	financial	financial	ADJ
faba-154	57	20	condition	condition	NOUN
faba-154	57	21	of	of	ADP
faba-154	57	22	pension	pension	NOUN
faba-154	57	23	insurance	insurance	NOUN
faba-154	57	24	by	by	ADP
faba-154	57	25	relaxing	relax	VERB
faba-154	57	26	part	part	NOUN
faba-154	57	27	of	of	ADP
faba-154	57	28	the	the	DET
faba-154	57	29	burden	burden	NOUN
faba-154	57	30	that	that	PRON
faba-154	57	31	falls	fall	VERB
faba-154	57	32	on	on	ADP
faba-154	57	33	the	the	DET
faba-154	57	34	payas	payas	NOUN
faba-154	57	35	-	-	PUNCT
faba-154	57	36	you	you	PRON
faba-154	57	37	-	-	PUNCT
faba-154	57	38	go	go	VERB
faba-154	57	39	structures	structure	NOUN
faba-154	57	40	,	,	PUNCT
faba-154	57	41	but	but	CCONJ
faba-154	57	42	not	not	PART
faba-154	57	43	only	only	ADV
faba-154	57	44	.	.	PUNCT
faba-154	58	1	fully	fully	ADV
faba-154	58	2	funded	fund	VERB
faba-154	58	3	components	component	NOUN
faba-154	58	4	were	be	AUX
faba-154	58	5	supposed	suppose	VERB
faba-154	58	6	to	to	PART
faba-154	58	7	incentivize	incentivize	VERB
faba-154	58	8	individuals	individual	NOUN
faba-154	58	9	to	to	PART
faba-154	58	10	pay	pay	VERB
faba-154	58	11	contributions	contribution	NOUN
faba-154	58	12	on	on	ADP
faba-154	58	13	real	real	ADJ
faba-154	58	14	incomes	income	NOUN
faba-154	58	15	thus	thus	ADV
faba-154	58	16	constraining	constrain	VERB
faba-154	58	17	“	"	PUNCT
faba-154	58	18	grey	grey	ADJ
faba-154	58	19	economy	economy	NOUN
faba-154	58	20	”	"	PUNCT
faba-154	58	21	which	which	PRON
faba-154	58	22	was	be	AUX
faba-154	58	23	a	a	DET
faba-154	58	24	serious	serious	ADJ
faba-154	58	25	issue	issue	NOUN
faba-154	58	26	for	for	ADP
faba-154	58	27	many	many	ADJ
faba-154	58	28	of	of	ADP
faba-154	58	29	the	the	DET
faba-154	58	30	developing	develop	VERB
faba-154	58	31	countries	country	NOUN
faba-154	58	32	(	(	PUNCT
faba-154	58	33	kirov	kirov	PROPN
faba-154	58	34	2010	2010	NUM
faba-154	58	35	)	)	PUNCT
faba-154	58	36	.	.	PUNCT
faba-154	59	1	at	at	ADP
faba-154	59	2	the	the	DET
faba-154	59	3	same	same	ADJ
faba-154	59	4	time	time	NOUN
faba-154	59	5	capital	capital	NOUN
faba-154	59	6	pension	pension	NOUN
faba-154	59	7	schemes	scheme	NOUN
faba-154	59	8	under	under	ADP
faba-154	59	9	certain	certain	ADJ
faba-154	59	10	assumptions	assumption	NOUN
faba-154	59	11	can	can	AUX
faba-154	59	12	raise	raise	VERB
faba-154	59	13	savings	saving	NOUN
faba-154	59	14	in	in	ADP
faba-154	59	15	the	the	DET
faba-154	59	16	economy	economy	NOUN
faba-154	59	17	and	and	CCONJ
faba-154	59	18	support	support	VERB
faba-154	59	19	stock	stock	NOUN
faba-154	59	20	market	market	NOUN
faba-154	59	21	trade	trade	NOUN
faba-154	59	22	thus	thus	ADV
faba-154	59	23	promoting	promote	VERB
faba-154	59	24	economic	economic	ADJ
faba-154	59	25	growth	growth	NOUN
faba-154	59	26	in	in	ADP
faba-154	59	27	the	the	DET
faba-154	59	28	long	long	ADJ
faba-154	59	29	term	term	NOUN
faba-154	59	30	(	(	PUNCT
faba-154	59	31	davis	davis	PROPN
faba-154	59	32	1993	1993	NUM
faba-154	59	33	)	)	PUNCT
faba-154	59	34	.	.	PUNCT
faba-154	60	1	and	and	CCONJ
faba-154	60	2	finally	finally	ADV
faba-154	60	3	,	,	PUNCT
faba-154	60	4	fully	fully	ADV
faba-154	60	5	funded	fund	VERB
faba-154	60	6	pension	pension	NOUN
faba-154	60	7	systems	system	NOUN
faba-154	60	8	could	could	AUX
faba-154	60	9	have	have	VERB
faba-154	60	10	a	a	DET
faba-154	60	11	better	well	ADJ
faba-154	60	12	return	return	NOUN
faba-154	60	13	to	to	ADP
faba-154	60	14	the	the	DET
faba-154	60	15	insured	insure	VERB
faba-154	60	16	individuals	individual	NOUN
faba-154	60	17	than	than	ADP
faba-154	60	18	pay	pay	VERB
faba-154	60	19	-	-	PUNCT
faba-154	60	20	as	as	ADP
faba-154	60	21	-	-	PUNCT
faba-154	60	22	you	you	PRON
faba-154	60	23	-	-	PUNCT
faba-154	60	24	go	go	VERB
faba-154	60	25	pillars	pillar	NOUN
faba-154	60	26	.	.	PUNCT
faba-154	61	1	according	accord	VERB
faba-154	61	2	to	to	ADP
faba-154	61	3	aaron	aaron	PROPN
faba-154	61	4	(	(	PUNCT
faba-154	61	5	1966	1966	NUM
faba-154	61	6	)	)	PUNCT
faba-154	61	7	,	,	PUNCT
faba-154	61	8	the	the	DET
faba-154	61	9	return	return	NOUN
faba-154	61	10	to	to	PART
faba-154	61	11	pay	pay	VERB
faba-154	61	12	-	-	PUNCT
faba-154	61	13	as	as	ADP
faba-154	61	14	-	-	PUNCT
faba-154	61	15	yougo	yougo	PROPN
faba-154	61	16	depends	depend	VERB
faba-154	61	17	on	on	ADP
faba-154	61	18	two	two	NUM
faba-154	61	19	basic	basic	ADJ
faba-154	61	20	factors	factor	NOUN
faba-154	61	21	–	–	PUNCT
faba-154	61	22	growth	growth	NOUN
faba-154	61	23	rate	rate	NOUN
faba-154	61	24	of	of	ADP
faba-154	61	25	average	average	ADJ
faba-154	61	26	earnings	earning	NOUN
faba-154	61	27	(	(	PUNCT
faba-154	61	28	they	they	PRON
faba-154	61	29	determine	determine	VERB
faba-154	61	30	the	the	DET
faba-154	61	31	amount	amount	NOUN
faba-154	61	32	of	of	ADP
faba-154	61	33	contributions	contribution	NOUN
faba-154	61	34	paid	pay	VERB
faba-154	61	35	into	into	ADP
faba-154	61	36	the	the	DET
faba-154	61	37	social	social	ADJ
faba-154	61	38	security	security	NOUN
faba-154	61	39	system	system	NOUN
faba-154	61	40	)	)	PUNCT
faba-154	61	41	and	and	CCONJ
faba-154	61	42	old	old	ADJ
faba-154	61	43	age	age	NOUN
faba-154	61	44	dependency	dependency	NOUN
faba-154	61	45	ratio	ratio	NOUN
faba-154	61	46	(	(	PUNCT
faba-154	61	47	pensioners	pensioner	NOUN
faba-154	61	48	towards	towards	ADP
faba-154	61	49	working	work	VERB
faba-154	61	50	individuals	individual	NOUN
faba-154	61	51	)	)	PUNCT
faba-154	61	52	.	.	PUNCT
faba-154	62	1	on	on	ADP
faba-154	62	2	the	the	DET
faba-154	62	3	other	other	ADJ
faba-154	62	4	hand	hand	NOUN
faba-154	62	5	,	,	PUNCT
faba-154	62	6	the	the	DET
faba-154	62	7	return	return	NOUN
faba-154	62	8	to	to	ADP
faba-154	62	9	a	a	DET
faba-154	62	10	fully	fully	ADV
faba-154	62	11	funded	fund	VERB
faba-154	62	12	pension	pension	NOUN
faba-154	62	13	system	system	NOUN
faba-154	62	14	depends	depend	VERB
faba-154	62	15	also	also	ADV
faba-154	62	16	on	on	ADP
faba-154	62	17	two	two	NUM
faba-154	62	18	factors	factor	NOUN
faba-154	62	19	:	:	PUNCT
faba-154	62	20	the	the	DET
faba-154	62	21	return	return	NOUN
faba-154	62	22	of	of	ADP
faba-154	62	23	financial	financial	ADJ
faba-154	62	24	assets	asset	NOUN
faba-154	62	25	and	and	CCONJ
faba-154	62	26	the	the	DET
faba-154	62	27	passivity	passivity	NOUN
faba-154	62	28	ratio	ratio	NOUN
faba-154	62	29	(	(	PUNCT
faba-154	62	30	working	work	VERB
faba-154	62	31	age	age	NOUN
faba-154	62	32	towards	towards	ADP
faba-154	62	33	years	year	NOUN
faba-154	62	34	in	in	ADP
faba-154	62	35	retirement	retirement	NOUN
faba-154	62	36	)	)	PUNCT
faba-154	62	37	.	.	PUNCT
faba-154	63	1	davis	davis	PROPN
faba-154	63	2	(	(	PUNCT
faba-154	63	3	1993	1993	NUM
faba-154	63	4	)	)	PUNCT
faba-154	63	5	shows	show	VERB
faba-154	63	6	that	that	SCONJ
faba-154	63	7	in	in	ADP
faba-154	63	8	case	case	NOUN
faba-154	63	9	of	of	ADP
faba-154	63	10	equality	equality	NOUN
faba-154	63	11	between	between	ADP
faba-154	63	12	dependency	dependency	NOUN
faba-154	63	13	ratio	ratio	NOUN
faba-154	63	14	and	and	CCONJ
faba-154	63	15	passivity	passivity	NOUN
faba-154	63	16	ratio	ratio	NOUN
faba-154	63	17	,	,	PUNCT
faba-154	63	18	the	the	DET
faba-154	63	19	return	return	NOUN
faba-154	63	20	solely	solely	ADV
faba-154	63	21	depends	depend	VERB
faba-154	63	22	on	on	ADP
faba-154	63	23	the	the	DET
faba-154	63	24	growth	growth	NOUN
faba-154	63	25	rate	rate	NOUN
faba-154	63	26	of	of	ADP
faba-154	63	27	average	average	ADJ
faba-154	63	28	wage	wage	NOUN
faba-154	63	29	and	and	CCONJ
faba-154	63	30	the	the	DET
faba-154	63	31	return	return	NOUN
faba-154	63	32	of	of	ADP
faba-154	63	33	financial	financial	ADJ
faba-154	63	34	assets	asset	NOUN
faba-154	63	35	.	.	PUNCT
faba-154	64	1	for	for	ADP
faba-154	64	2	many	many	ADJ
faba-154	64	3	countries	country	NOUN
faba-154	64	4	the	the	DET
faba-154	64	5	latter	latter	ADJ
faba-154	64	6	exceeds	exceed	VERB
faba-154	64	7	the	the	DET
faba-154	64	8	former	former	ADJ
faba-154	64	9	,	,	PUNCT
faba-154	64	10	thus	thus	ADV
faba-154	64	11	giving	give	VERB
faba-154	64	12	precedence	precedence	NOUN
faba-154	64	13	to	to	ADP
faba-154	64	14	the	the	DET
faba-154	64	15	fully	fully	ADV
faba-154	64	16	funded	fund	VERB
faba-154	64	17	pension	pension	NOUN
faba-154	64	18	schemes	scheme	NOUN
faba-154	64	19	.	.	PUNCT
faba-154	65	1	in	in	ADP
faba-154	65	2	addition	addition	NOUN
faba-154	65	3	,	,	PUNCT
faba-154	65	4	the	the	DET
faba-154	65	5	already	already	ADV
faba-154	65	6	formed	form	VERB
faba-154	65	7	trend	trend	NOUN
faba-154	65	8	of	of	ADP
faba-154	65	9	population	population	NOUN
faba-154	65	10	aging	aging	NOUN
faba-154	65	11	means	mean	VERB
faba-154	65	12	that	that	SCONJ
faba-154	65	13	the	the	DET
faba-154	65	14	dependency	dependency	NOUN
faba-154	65	15	ratio	ratio	NOUN
faba-154	65	16	is	be	AUX
faba-154	65	17	expected	expect	VERB
faba-154	65	18	to	to	PART
faba-154	65	19	further	far	ADV
faba-154	65	20	deteriorate	deteriorate	VERB
faba-154	65	21	in	in	ADP
faba-154	65	22	the	the	DET
faba-154	65	23	next	next	ADJ
faba-154	65	24	decades	decade	NOUN
faba-154	65	25	giving	give	VERB
faba-154	65	26	another	another	DET
faba-154	65	27	advantage	advantage	NOUN
faba-154	65	28	to	to	ADP
faba-154	65	29	fully	fully	ADV
faba-154	65	30	funded	fund	VERB
faba-154	65	31	structures	structure	NOUN
faba-154	65	32	.	.	PUNCT
faba-154	66	1	all	all	DET
faba-154	66	2	these	these	DET
faba-154	66	3	arguments	argument	NOUN
faba-154	66	4	made	make	VERB
faba-154	66	5	possible	possible	ADJ
faba-154	66	6	the	the	DET
faba-154	66	7	fundamental	fundamental	ADJ
faba-154	66	8	pension	pension	NOUN
faba-154	66	9	reforms	reform	NOUN
faba-154	66	10	implemented	implement	VERB
faba-154	66	11	in	in	ADP
faba-154	66	12	many	many	ADJ
faba-154	66	13	countries	country	NOUN
faba-154	66	14	in	in	ADP
faba-154	66	15	central	central	ADJ
faba-154	66	16	and	and	CCONJ
faba-154	66	17	eastern	eastern	ADJ
faba-154	66	18	europe	europe	PROPN
faba-154	66	19	.	.	PUNCT
faba-154	67	1	hungary	hungary	PROPN
faba-154	67	2	(	(	PUNCT
faba-154	67	3	1998	1998	NUM
faba-154	67	4	)	)	PUNCT
faba-154	67	5	,	,	PUNCT
faba-154	67	6	poland	poland	PROPN
faba-154	67	7	(	(	PUNCT
faba-154	67	8	1999	1999	NUM
faba-154	67	9	)	)	PUNCT
faba-154	67	10	,	,	PUNCT
faba-154	67	11	latvia	latvia	PROPN
faba-154	67	12	(	(	PUNCT
faba-154	67	13	2001	2001	NUM
faba-154	67	14	)	)	PUNCT
faba-154	67	15	,	,	PUNCT
faba-154	67	16	bulgaria	bulgaria	PROPN
faba-154	67	17	(	(	PUNCT
faba-154	67	18	2002	2002	NUM
faba-154	67	19	)	)	PUNCT
faba-154	67	20	,	,	PUNCT
faba-154	67	21	estonia	estonia	PROPN
faba-154	67	22	(	(	PUNCT
faba-154	67	23	2002	2002	NUM
faba-154	67	24	)	)	PUNCT
faba-154	67	25	,	,	PUNCT
faba-154	67	26	croatia	croatia	PROPN
faba-154	67	27	(	(	PUNCT
faba-154	67	28	2002	2002	NUM
faba-154	67	29	)	)	PUNCT
faba-154	67	30	,	,	PUNCT
faba-154	67	31	lithuania	lithuania	PROPN
faba-154	67	32	(	(	PUNCT
faba-154	67	33	2004	2004	NUM
faba-154	67	34	)	)	PUNCT
faba-154	67	35	,	,	PUNCT
faba-154	67	36	slovakia	slovakia	PROPN
faba-154	67	37	(	(	PUNCT
faba-154	67	38	2005	2005	NUM
faba-154	67	39	)	)	PUNCT
faba-154	67	40	,	,	PUNCT
faba-154	67	41	romania	romania	PROPN
faba-154	67	42	(	(	PUNCT
faba-154	67	43	2008	2008	NUM
faba-154	67	44	)	)	PUNCT
faba-154	67	45	made	make	VERB
faba-154	67	46	pension	pension	NOUN
faba-154	67	47	reforms	reform	NOUN
faba-154	67	48	following	follow	VERB
faba-154	67	49	the	the	DET
faba-154	67	50	model	model	NOUN
faba-154	67	51	proposed	propose	VERB
faba-154	67	52	by	by	ADP
faba-154	67	53	the	the	DET
faba-154	67	54	world	world	PROPN
faba-154	67	55	bank	bank	PROPN
faba-154	67	56	.	.	PUNCT
faba-154	68	1	the	the	DET
faba-154	68	2	pension	pension	NOUN
faba-154	68	3	systems	system	NOUN
faba-154	68	4	in	in	ADP
faba-154	68	5	these	these	DET
faba-154	68	6	countries	country	NOUN
faba-154	68	7	have	have	VERB
faba-154	68	8	similar	similar	ADJ
faba-154	68	9	features	feature	NOUN
faba-154	68	10	but	but	CCONJ
faba-154	68	11	also	also	ADV
faba-154	68	12	common	common	ADJ
faba-154	68	13	problems	problem	NOUN
faba-154	68	14	.	.	PUNCT
faba-154	69	1	at	at	ADP
faba-154	69	2	the	the	DET
faba-154	69	3	start	start	NOUN
faba-154	69	4	of	of	ADP
faba-154	69	5	the	the	DET
faba-154	69	6	reform	reform	NOUN
faba-154	69	7	the	the	DET
faba-154	69	8	governments	government	NOUN
faba-154	69	9	had	have	VERB
faba-154	69	10	to	to	PART
faba-154	69	11	address	address	VERB
faba-154	69	12	and	and	CCONJ
faba-154	69	13	solve	solve	VERB
faba-154	69	14	important	important	ADJ
faba-154	69	15	issues	issue	NOUN
faba-154	69	16	concerning	concern	VERB
faba-154	69	17	the	the	DET
faba-154	69	18	exact	exact	ADJ
faba-154	69	19	design	design	NOUN
faba-154	69	20	,	,	PUNCT
faba-154	69	21	structure	structure	NOUN
faba-154	69	22	and	and	CCONJ
faba-154	69	23	financing	financing	NOUN
faba-154	69	24	of	of	ADP
faba-154	69	25	the	the	DET
faba-154	69	26	second	second	ADJ
faba-154	69	27	pillar	pillar	NOUN
faba-154	69	28	pension	pension	NOUN
faba-154	69	29	funds	fund	NOUN
faba-154	69	30	.	.	PUNCT
faba-154	70	1	all	all	PRON
faba-154	70	2	of	of	ADP
faba-154	70	3	the	the	DET
faba-154	70	4	countries	country	NOUN
faba-154	70	5	adopted	adopt	VERB
faba-154	70	6	defined	define	VERB
faba-154	70	7	contribution	contribution	NOUN
faba-154	70	8	pension	pension	NOUN
faba-154	70	9	schemes	scheme	NOUN
faba-154	70	10	with	with	ADP
faba-154	70	11	personal	personal	ADJ
faba-154	70	12	accounts	account	NOUN
faba-154	70	13	,	,	PUNCT
faba-154	70	14	managed	manage	VERB
faba-154	70	15	by	by	ADP
faba-154	70	16	pension	pension	NOUN
faba-154	70	17	insurance	insurance	NOUN
faba-154	70	18	companies	company	NOUN
faba-154	70	19	,	,	PUNCT
faba-154	70	20	structured	structure	VERB
faba-154	70	21	as	as	ADP
faba-154	70	22	separate	separate	ADJ
faba-154	70	23	legal	legal	ADJ
faba-154	70	24	entities	entity	NOUN
faba-154	70	25	.	.	PUNCT
faba-154	71	1	in	in	ADP
faba-154	71	2	the	the	DET
faba-154	71	3	very	very	ADJ
faba-154	71	4	beginning	beginning	NOUN
faba-154	71	5	,	,	PUNCT
faba-154	71	6	it	it	PRON
faba-154	71	7	was	be	AUX
faba-154	71	8	crucial	crucial	ADJ
faba-154	71	9	for	for	SCONJ
faba-154	71	10	the	the	DET
faba-154	71	11	policymakers	policymaker	NOUN
faba-154	71	12	to	to	PART
faba-154	71	13	convince	convince	VERB
faba-154	71	14	insured	insure	VERB
faba-154	71	15	individuals	individual	NOUN
faba-154	71	16	that	that	SCONJ
faba-154	71	17	pension	pension	NOUN
faba-154	71	18	funds	fund	NOUN
faba-154	71	19	are	be	AUX
faba-154	71	20	financial	financial	ADJ
faba-154	71	21	institutions	institution	NOUN
faba-154	71	22	,	,	PUNCT
faba-154	71	23	designed	design	VERB
faba-154	71	24	to	to	PART
faba-154	71	25	support	support	VERB
faba-154	71	26	the	the	DET
faba-154	71	27	pension	pension	NOUN
faba-154	71	28	systems	system	NOUN
faba-154	71	29	and	and	CCONJ
faba-154	71	30	to	to	PART
faba-154	71	31	increase	increase	VERB
faba-154	71	32	probability	probability	NOUN
faba-154	71	33	of	of	ADP
faba-154	71	34	receiving	receive	VERB
faba-154	71	35	benefits	benefit	NOUN
faba-154	71	36	adequate	adequate	ADJ
faba-154	71	37	to	to	ADP
faba-154	71	38	preretirement	preretirement	ADJ
faba-154	71	39	income	income	NOUN
faba-154	71	40	.	.	PUNCT
faba-154	72	1	the	the	DET
faba-154	72	2	idea	idea	NOUN
faba-154	72	3	of	of	ADP
faba-154	72	4	having	have	VERB
faba-154	72	5	an	an	DET
faba-154	72	6	individual	individual	ADJ
faba-154	72	7	account	account	NOUN
faba-154	72	8	for	for	ADP
faba-154	72	9	accumulation	accumulation	NOUN
faba-154	72	10	of	of	ADP
faba-154	72	11	assets	asset	NOUN
faba-154	72	12	for	for	ADP
faba-154	72	13	future	future	ADJ
faba-154	72	14	retirement	retirement	NOUN
faba-154	72	15	appeared	appear	VERB
faba-154	72	16	to	to	PART
faba-154	72	17	be	be	AUX
faba-154	72	18	quite	quite	ADV
faba-154	72	19	innovative	innovative	ADJ
faba-154	72	20	for	for	ADP
faba-154	72	21	countries	country	NOUN
faba-154	72	22	where	where	SCONJ
faba-154	72	23	pension	pension	NOUN
faba-154	72	24	insurance	insurance	NOUN
faba-154	72	25	had	have	AUX
faba-154	72	26	been	be	AUX
faba-154	72	27	organized	organize	VERB
faba-154	72	28	on	on	ADP
faba-154	72	29	semashko6	semashko6	ADJ
faba-154	72	30	model	model	NOUN
faba-154	72	31	for	for	ADP
faba-154	72	32	decades	decade	NOUN
faba-154	72	33	(	(	PUNCT
faba-154	72	34	gochev	gochev	NOUN
faba-154	72	35	and	and	CCONJ
faba-154	72	36	manov	manov	PROPN
faba-154	72	37	2003	2003	NUM
faba-154	72	38	)	)	PUNCT
faba-154	72	39	.	.	PUNCT
faba-154	73	1	social	social	ADJ
faba-154	73	2	security	security	NOUN
faba-154	73	3	systems	system	NOUN
faba-154	73	4	in	in	ADP
faba-154	73	5	all	all	DET
faba-154	73	6	countries	country	NOUN
faba-154	73	7	from	from	ADP
faba-154	73	8	the	the	DET
faba-154	73	9	former	former	ADJ
faba-154	73	10	soviet	soviet	PROPN
faba-154	73	11	bloc	bloc	NOUN
faba-154	73	12	were	be	AUX
faba-154	73	13	financed	finance	VERB
faba-154	73	14	solely	solely	ADV
faba-154	73	15	by	by	ADP
faba-154	73	16	the	the	DET
faba-154	73	17	state	state	NOUN
faba-154	73	18	budget	budget	NOUN
faba-154	73	19	and	and	CCONJ
faba-154	73	20	people	people	NOUN
faba-154	73	21	commonly	commonly	ADV
faba-154	73	22	believed	believe	VERB
faba-154	73	23	that	that	SCONJ
faba-154	73	24	pension	pension	NOUN
faba-154	73	25	insurance	insurance	NOUN
faba-154	73	26	can	can	AUX
faba-154	73	27	not	not	PART
faba-154	73	28	be	be	AUX
faba-154	73	29	financed	finance	VERB
faba-154	73	30	on	on	ADP
faba-154	73	31	other	other	ADJ
faba-154	73	32	grounds	ground	NOUN
faba-154	73	33	than	than	ADP
faba-154	73	34	on	on	ADP
faba-154	73	35	funds	fund	NOUN
faba-154	73	36	provided	provide	VERB
faba-154	73	37	by	by	ADP
faba-154	73	38	the	the	DET
faba-154	73	39	government	government	NOUN
faba-154	73	40	.	.	PUNCT
faba-154	74	1	the	the	DET
faba-154	74	2	financial	financial	ADJ
faba-154	74	3	“	"	PUNCT
faba-154	74	4	pyramids	pyramid	NOUN
faba-154	74	5	”	"	PUNCT
faba-154	74	6	that	that	PRON
faba-154	74	7	existed	exist	VERB
faba-154	74	8	in	in	ADP
faba-154	74	9	some	some	PRON
faba-154	74	10	of	of	ADP
faba-154	74	11	the	the	DET
faba-154	74	12	countries	country	NOUN
faba-154	74	13	in	in	ADP
faba-154	74	14	the	the	DET
faba-154	74	15	years	year	NOUN
faba-154	74	16	after	after	SCONJ
faba-154	74	17	the	the	DET
faba-154	74	18	collapse	collapse	NOUN
faba-154	74	19	of	of	ADP
faba-154	74	20	the	the	DET
faba-154	74	21	communist	communist	ADJ
faba-154	74	22	regimes	regime	NOUN
faba-154	74	23	were	be	AUX
faba-154	74	24	another	another	DET
faba-154	74	25	scar	scar	NOUN
faba-154	74	26	that	that	PRON
faba-154	74	27	had	have	VERB
faba-154	74	28	to	to	PART
faba-154	74	29	be	be	AUX
faba-154	74	30	healed	heal	VERB
faba-154	74	31	.	.	PUNCT
faba-154	75	1	convincing	convince	VERB
faba-154	75	2	people	people	NOUN
faba-154	75	3	that	that	SCONJ
faba-154	75	4	pension	pension	NOUN
faba-154	75	5	funds	fund	NOUN
faba-154	75	6	were	be	AUX
faba-154	75	7	not	not	PART
faba-154	75	8	institutions	institution	NOUN
faba-154	75	9	that	that	PRON
faba-154	75	10	manage	manage	VERB
faba-154	75	11	some	some	DET
faba-154	75	12	other	other	ADJ
faba-154	75	13	“	"	PUNCT
faba-154	75	14	ponzi	ponzi	PRON
faba-154	75	15	scheme	scheme	NOUN
faba-154	75	16	”	"	PUNCT
faba-154	75	17	was	be	AUX
faba-154	75	18	important	important	ADJ
faba-154	75	19	for	for	ADP
faba-154	75	20	the	the	DET
faba-154	75	21	success	success	NOUN
faba-154	75	22	of	of	ADP
faba-154	75	23	the	the	DET
faba-154	75	24	reform	reform	NOUN
faba-154	75	25	.	.	PUNCT
faba-154	76	1	another	another	DET
faba-154	76	2	issue	issue	NOUN
faba-154	76	3	that	that	PRON
faba-154	76	4	had	have	VERB
faba-154	76	5	to	to	PART
faba-154	76	6	be	be	AUX
faba-154	76	7	sorted	sort	VERB
faba-154	76	8	out	out	ADP
faba-154	76	9	was	be	AUX
faba-154	76	10	related	relate	VERB
faba-154	76	11	to	to	ADP
faba-154	76	12	the	the	DET
faba-154	76	13	amount	amount	NOUN
faba-154	76	14	of	of	ADP
faba-154	76	15	the	the	DET
faba-154	76	16	contributions	contribution	NOUN
faba-154	76	17	destined	destine	VERB
faba-154	76	18	to	to	ADP
faba-154	76	19	the	the	DET
faba-154	76	20	pension	pension	NOUN
faba-154	76	21	funds	fund	NOUN
faba-154	76	22	.	.	PUNCT
faba-154	77	1	the	the	DET
faba-154	77	2	approach	approach	NOUN
faba-154	77	3	adopted	adopt	VERB
faba-154	77	4	by	by	ADP
faba-154	77	5	all	all	DET
faba-154	77	6	countries	country	NOUN
faba-154	77	7	,	,	PUNCT
faba-154	77	8	but	but	CCONJ
faba-154	77	9	estonia	estonia	PROPN
faba-154	77	10	,	,	PUNCT
faba-154	77	11	was	be	AUX
faba-154	77	12	to	to	PART
faba-154	77	13	reduce	reduce	VERB
faba-154	77	14	the	the	DET
faba-154	77	15	contribution	contribution	NOUN
faba-154	77	16	due	due	ADP
faba-154	77	17	to	to	ADP
faba-154	77	18	the	the	DET
faba-154	77	19	first	first	ADJ
faba-154	77	20	pillar	pillar	NOUN
faba-154	77	21	and	and	CCONJ
faba-154	77	22	to	to	PART
faba-154	77	23	redirect	redirect	VERB
faba-154	77	24	that	that	DET
faba-154	77	25	amount	amount	NOUN
faba-154	77	26	into	into	ADP
faba-154	77	27	the	the	DET
faba-154	77	28	second	second	ADJ
faba-154	77	29	pillar	pillar	NOUN
faba-154	77	30	.	.	PUNCT
faba-154	78	1	the	the	DET
faba-154	78	2	government	government	NOUN
faba-154	78	3	in	in	ADP
faba-154	78	4	estonia	estonia	PROPN
faba-154	78	5	reduced	reduce	VERB
faba-154	78	6	the	the	DET
faba-154	78	7	6	6	NUM
faba-154	78	8	nikolay	nikolay	NOUN
faba-154	78	9	semashko	semashko	ADJ
faba-154	78	10	is	be	AUX
faba-154	78	11	a	a	DET
faba-154	78	12	russian	russian	ADJ
faba-154	78	13	academic	academic	NOUN
faba-154	78	14	and	and	CCONJ
faba-154	78	15	politician	politician	NOUN
faba-154	78	16	whose	whose	DET
faba-154	78	17	ideas	idea	NOUN
faba-154	78	18	about	about	ADP
faba-154	78	19	social	social	ADJ
faba-154	78	20	security	security	NOUN
faba-154	78	21	were	be	AUX
faba-154	78	22	widely	widely	ADV
faba-154	78	23	accepted	accept	VERB
faba-154	78	24	in	in	ADP
faba-154	78	25	soviet	soviet	PROPN
faba-154	78	26	union	union	PROPN
faba-154	78	27	and	and	CCONJ
faba-154	78	28	countries	country	NOUN
faba-154	78	29	from	from	ADP
faba-154	78	30	the	the	DET
faba-154	78	31	former	former	ADJ
faba-154	78	32	soviet	soviet	ADJ
faba-154	78	33	block	block	NOUN
faba-154	78	34	jeko	jeko	NOUN
faba-154	78	35	milev	milev	NOUN
faba-154	78	36	/	/	SYM
faba-154	78	37	finance	finance	NOUN
faba-154	78	38	,	,	PUNCT
faba-154	78	39	accounting	accounting	NOUN
faba-154	78	40	and	and	CCONJ
faba-154	78	41	business	business	NOUN
faba-154	78	42	analysis	analysis	NOUN
faba-154	78	43	,	,	PUNCT
faba-154	78	44	volume	volume	NOUN
faba-154	78	45	5	5	NUM
faba-154	78	46	,	,	PUNCT
faba-154	78	47	issue	issue	NOUN
faba-154	78	48	1	1	NUM
faba-154	78	49	,	,	PUNCT
faba-154	78	50	2023	2023	NUM
faba-154	78	51	73	73	NUM
faba-154	78	52	payment	payment	NOUN
faba-154	78	53	due	due	ADP
faba-154	78	54	to	to	ADP
faba-154	78	55	the	the	DET
faba-154	78	56	first	first	ADJ
faba-154	78	57	pillar	pillar	NOUN
faba-154	78	58	but	but	CCONJ
faba-154	78	59	also	also	ADV
faba-154	78	60	introduced	introduce	VERB
faba-154	78	61	additional	additional	ADJ
faba-154	78	62	contribution	contribution	NOUN
faba-154	78	63	to	to	PART
faba-154	78	64	finance	finance	VERB
faba-154	78	65	the	the	DET
faba-154	78	66	private	private	ADJ
faba-154	78	67	pension	pension	NOUN
faba-154	78	68	funds	fund	NOUN
faba-154	78	69	in	in	ADP
faba-154	78	70	the	the	DET
faba-154	78	71	country	country	NOUN
faba-154	78	72	.	.	PUNCT
faba-154	79	1	the	the	DET
faba-154	79	2	reduction	reduction	NOUN
faba-154	79	3	of	of	ADP
faba-154	79	4	the	the	DET
faba-154	79	5	contribution	contribution	NOUN
faba-154	79	6	rate	rate	NOUN
faba-154	79	7	for	for	ADP
faba-154	79	8	the	the	DET
faba-154	79	9	first	first	ADJ
faba-154	79	10	pillar	pillar	NOUN
faba-154	79	11	raised	raise	VERB
faba-154	79	12	the	the	DET
faba-154	79	13	question	question	NOUN
faba-154	79	14	of	of	ADP
faba-154	79	15	how	how	SCONJ
faba-154	79	16	to	to	PART
faba-154	79	17	compensate	compensate	VERB
faba-154	79	18	the	the	DET
faba-154	79	19	expected	expect	VERB
faba-154	79	20	lower	low	ADJ
faba-154	79	21	revenues	revenue	NOUN
faba-154	79	22	into	into	ADP
faba-154	79	23	the	the	DET
faba-154	79	24	state	state	NOUN
faba-154	79	25	pension	pension	NOUN
faba-154	79	26	system	system	NOUN
faba-154	79	27	.	.	PUNCT
faba-154	80	1	table	table	NOUN
faba-154	80	2	1	1	NUM
faba-154	80	3	.	.	X
faba-154	80	4	contribution	contribution	NOUN
faba-154	80	5	rates	rate	NOUN
faba-154	80	6	for	for	ADP
faba-154	80	7	the	the	DET
faba-154	80	8	first	first	ADJ
faba-154	80	9	and	and	CCONJ
faba-154	80	10	for	for	ADP
faba-154	80	11	the	the	DET
faba-154	80	12	second	second	ADJ
faba-154	80	13	pillar	pillar	NOUN
faba-154	80	14	at	at	ADP
faba-154	80	15	the	the	DET
faba-154	80	16	start	start	NOUN
faba-154	80	17	of	of	ADP
faba-154	80	18	the	the	DET
faba-154	80	19	reform	reform	NOUN
faba-154	80	20	n	n	CCONJ
faba-154	80	21	:	:	PUNCT
faba-154	80	22	country	country	NOUN
faba-154	80	23	first	first	ADJ
faba-154	80	24	pillar	pillar	NOUN
faba-154	80	25	contribution	contribution	NOUN
faba-154	80	26	rate	rate	NOUN
faba-154	80	27	second	second	ADJ
faba-154	80	28	pillar	pillar	NOUN
faba-154	80	29	contribution	contribution	NOUN
faba-154	80	30	rate	rate	NOUN
faba-154	80	31	1	1	NUM
faba-154	80	32	hungary	hungary	NOUN
faba-154	80	33	18.5	18.5	NUM
faba-154	80	34	%	%	NOUN
faba-154	80	35	8	8	NUM
faba-154	80	36	%	%	NOUN
faba-154	80	37	2	2	NUM
faba-154	80	38	poland	poland	NOUN
faba-154	80	39	12.22	12.22	NUM
faba-154	80	40	%	%	NOUN
faba-154	80	41	7.3	7.3	NUM
faba-154	80	42	%	%	NOUN
faba-154	80	43	3	3	NUM
faba-154	80	44	latvia	latvia	PROPN
faba-154	80	45	18	18	NUM
faba-154	80	46	%	%	NOUN
faba-154	80	47	2	2	NUM
faba-154	80	48	%	%	NOUN
faba-154	80	49	4	4	NUM
faba-154	80	50	bulgaria	bulgaria	NOUN
faba-154	80	51	27	27	NUM
faba-154	80	52	%	%	NOUN
faba-154	80	53	2	2	NUM
faba-154	80	54	%	%	NOUN
faba-154	80	55	5	5	NUM
faba-154	80	56	estonia	estonia	NOUN
faba-154	80	57	16	16	NUM
faba-154	80	58	%	%	NOUN
faba-154	80	59	6	6	NUM
faba-154	80	60	%	%	NOUN
faba-154	80	61	6	6	NUM
faba-154	80	62	croatia	croatia	NOUN
faba-154	80	63	15	15	NUM
faba-154	80	64	%	%	NOUN
faba-154	80	65	5	5	NUM
faba-154	80	66	%	%	NOUN
faba-154	80	67	7	7	NUM
faba-154	80	68	lithuania	lithuania	PROPN
faba-154	80	69	23.4	23.4	NUM
faba-154	80	70	%	%	NOUN
faba-154	80	71	2.5	2.5	NUM
faba-154	80	72	%	%	NOUN
faba-154	80	73	8	8	NUM
faba-154	80	74	slovakia	slovakia	NOUN
faba-154	80	75	9	9	NUM
faba-154	80	76	%	%	NOUN
faba-154	80	77	9	9	NUM
faba-154	80	78	%	%	NOUN
faba-154	80	79	9	9	NUM
faba-154	80	80	romania	romania	NOUN
faba-154	80	81	29	29	NUM
faba-154	80	82	%	%	NOUN
faba-154	80	83	2	2	NUM
faba-154	80	84	%	%	NOUN
faba-154	80	85	source	source	NOUN
faba-154	80	86	:	:	PUNCT
faba-154	80	87	oecd	oecd	PROPN
faba-154	80	88	(	(	PUNCT
faba-154	80	89	2004	2004	NUM
faba-154	80	90	,	,	PUNCT
faba-154	80	91	2008	2008	NUM
faba-154	80	92	)	)	PUNCT
faba-154	80	93	;	;	PUNCT
faba-154	80	94	bejakovic	bejakovic	X
faba-154	80	95	(	(	PUNCT
faba-154	80	96	2019	2019	NUM
faba-154	80	97	)	)	PUNCT
faba-154	80	98	the	the	DET
faba-154	80	99	adopted	adopt	VERB
faba-154	80	100	approach	approach	NOUN
faba-154	80	101	of	of	ADP
faba-154	80	102	financing	finance	VERB
faba-154	80	103	the	the	DET
faba-154	80	104	transition	transition	NOUN
faba-154	80	105	period	period	NOUN
faba-154	80	106	was	be	AUX
faba-154	80	107	different	different	ADJ
faba-154	80	108	for	for	ADP
faba-154	80	109	the	the	DET
faba-154	80	110	various	various	ADJ
faba-154	80	111	countries	country	NOUN
faba-154	80	112	.	.	PUNCT
faba-154	81	1	three	three	NUM
faba-154	81	2	basic	basic	ADJ
faba-154	81	3	models	model	NOUN
faba-154	81	4	were	be	AUX
faba-154	81	5	applied	apply	VERB
faba-154	81	6	:	:	PUNCT
faba-154	81	7	revenues	revenue	NOUN
faba-154	81	8	from	from	ADP
faba-154	81	9	general	general	ADJ
faba-154	81	10	taxation	taxation	NOUN
faba-154	81	11	,	,	PUNCT
faba-154	81	12	own	own	ADJ
faba-154	81	13	resources	resource	NOUN
faba-154	81	14	,	,	PUNCT
faba-154	81	15	additional	additional	ADJ
faba-154	81	16	public	public	ADJ
faba-154	81	17	debt	debt	NOUN
faba-154	81	18	(	(	PUNCT
faba-154	81	19	bielawska	bielawska	NOUN
faba-154	81	20	2013	2013	NUM
faba-154	81	21	)	)	PUNCT
faba-154	81	22	.	.	PUNCT
faba-154	82	1	the	the	DET
faba-154	82	2	combination	combination	NOUN
faba-154	82	3	of	of	ADP
faba-154	82	4	the	the	DET
faba-154	82	5	three	three	NUM
faba-154	82	6	variants	variant	NOUN
faba-154	82	7	was	be	AUX
faba-154	82	8	also	also	ADV
faba-154	82	9	an	an	DET
faba-154	82	10	option	option	NOUN
faba-154	82	11	.	.	PUNCT
faba-154	83	1	the	the	DET
faba-154	83	2	last	last	ADJ
faba-154	83	3	basic	basic	ADJ
faba-154	83	4	issue	issue	NOUN
faba-154	83	5	that	that	PRON
faba-154	83	6	had	have	VERB
faba-154	83	7	to	to	PART
faba-154	83	8	be	be	AUX
faba-154	83	9	addressed	address	VERB
faba-154	83	10	was	be	AUX
faba-154	83	11	related	relate	VERB
faba-154	83	12	to	to	ADP
faba-154	83	13	the	the	DET
faba-154	83	14	individuals	individual	NOUN
faba-154	83	15	allowed	allow	VERB
faba-154	83	16	to	to	PART
faba-154	83	17	join	join	VERB
faba-154	83	18	the	the	DET
faba-154	83	19	new	new	ADJ
faba-154	83	20	pension	pension	NOUN
faba-154	83	21	funds	fund	NOUN
faba-154	83	22	.	.	PUNCT
faba-154	84	1	the	the	DET
faba-154	84	2	very	very	ADJ
faba-154	84	3	nature	nature	NOUN
faba-154	84	4	of	of	ADP
faba-154	84	5	the	the	DET
faba-154	84	6	fully	fully	ADV
faba-154	84	7	funded	fund	VERB
faba-154	84	8	pension	pension	NOUN
faba-154	84	9	systems	system	NOUN
faba-154	84	10	implies	imply	VERB
faba-154	84	11	that	that	SCONJ
faba-154	84	12	insured	insure	VERB
faba-154	84	13	individuals	individual	NOUN
faba-154	84	14	need	need	VERB
faba-154	84	15	a	a	DET
faba-154	84	16	comparatively	comparatively	ADV
faba-154	84	17	long	long	ADJ
faba-154	84	18	period	period	NOUN
faba-154	84	19	in	in	ADP
faba-154	84	20	order	order	NOUN
faba-154	84	21	to	to	PART
faba-154	84	22	accumulate	accumulate	VERB
faba-154	84	23	enough	enough	ADJ
faba-154	84	24	resources	resource	NOUN
faba-154	84	25	into	into	ADP
faba-154	84	26	their	their	PRON
faba-154	84	27	accounts	account	NOUN
faba-154	84	28	.	.	PUNCT
faba-154	85	1	those	those	PRON
faba-154	85	2	of	of	ADP
faba-154	85	3	them	they	PRON
faba-154	85	4	who	who	PRON
faba-154	85	5	were	be	AUX
faba-154	85	6	close	close	ADJ
faba-154	85	7	to	to	ADP
faba-154	85	8	their	their	PRON
faba-154	85	9	retirement	retirement	NOUN
faba-154	85	10	were	be	AUX
faba-154	85	11	excluded	exclude	VERB
faba-154	85	12	from	from	ADP
faba-154	85	13	the	the	DET
faba-154	85	14	possibility	possibility	NOUN
faba-154	85	15	of	of	ADP
faba-154	85	16	saving	saving	NOUN
faba-154	85	17	or	or	CCONJ
faba-154	85	18	they	they	PRON
faba-154	85	19	were	be	AUX
faba-154	85	20	given	give	VERB
faba-154	85	21	the	the	DET
faba-154	85	22	option	option	NOUN
faba-154	85	23	to	to	PART
faba-154	85	24	choose	choose	VERB
faba-154	85	25	whether	whether	SCONJ
faba-154	85	26	to	to	PART
faba-154	85	27	join	join	VERB
faba-154	85	28	the	the	DET
faba-154	85	29	scheme	scheme	NOUN
faba-154	85	30	.	.	PUNCT
faba-154	86	1	the	the	DET
faba-154	86	2	different	different	ADJ
faba-154	86	3	countries	country	NOUN
faba-154	86	4	adopted	adopt	VERB
faba-154	86	5	different	different	ADJ
faba-154	86	6	approaches	approach	NOUN
faba-154	86	7	to	to	ADP
faba-154	86	8	this	this	DET
faba-154	86	9	issue	issue	NOUN
faba-154	86	10	,	,	PUNCT
faba-154	86	11	but	but	CCONJ
faba-154	86	12	the	the	DET
faba-154	86	13	common	common	ADJ
faba-154	86	14	feature	feature	NOUN
faba-154	86	15	was	be	AUX
faba-154	86	16	that	that	SCONJ
faba-154	86	17	not	not	PART
faba-154	86	18	all	all	DET
faba-154	86	19	individuals	individual	NOUN
faba-154	86	20	were	be	AUX
faba-154	86	21	allowed	allow	VERB
faba-154	86	22	to	to	PART
faba-154	86	23	join	join	VERB
faba-154	86	24	the	the	DET
faba-154	86	25	new	new	ADJ
faba-154	86	26	pillar	pillar	NOUN
faba-154	86	27	of	of	ADP
faba-154	86	28	the	the	DET
faba-154	86	29	pension	pension	NOUN
faba-154	86	30	system	system	NOUN
faba-154	86	31	.	.	PUNCT
faba-154	87	1	table	table	NOUN
faba-154	87	2	2	2	NUM
faba-154	87	3	.	.	PUNCT
faba-154	87	4	criteria	criterion	NOUN
faba-154	87	5	for	for	ADP
faba-154	87	6	compulsory	compulsory	ADJ
faba-154	87	7	joining	join	VERB
faba-154	87	8	the	the	DET
faba-154	87	9	second	second	ADJ
faba-154	87	10	pillar	pillar	NOUN
faba-154	87	11	pension	pension	NOUN
faba-154	87	12	funds	fund	NOUN
faba-154	87	13	in	in	ADP
faba-154	87	14	cee	cee	NOUN
faba-154	87	15	countries	country	NOUN
faba-154	87	16	n	n	CCONJ
faba-154	87	17	:	:	PUNCT
faba-154	87	18	country	country	NOUN
faba-154	87	19	individuals	individual	NOUN
faba-154	87	20	mandatory	mandatory	ADV
faba-154	87	21	insured	insure	VERB
faba-154	87	22	into	into	ADP
faba-154	87	23	the	the	DET
faba-154	87	24	new	new	ADJ
faba-154	87	25	pension	pension	NOUN
faba-154	87	26	funds	fund	NOUN
faba-154	87	27	1	1	NUM
faba-154	87	28	hungary	hungary	PROPN
faba-154	87	29	all	all	DET
faba-154	87	30	persons	person	NOUN
faba-154	87	31	under	under	ADP
faba-154	87	32	the	the	DET
faba-154	87	33	age	age	NOUN
faba-154	87	34	of	of	ADP
faba-154	87	35	35	35	NUM
faba-154	87	36	2	2	NUM
faba-154	87	37	poland	poland	NOUN
faba-154	87	38	all	all	DET
faba-154	87	39	persons	person	NOUN
faba-154	87	40	born	bear	VERB
faba-154	87	41	after	after	ADP
faba-154	87	42	31.12.1968	31.12.1968	NUM
faba-154	87	43	3	3	NUM
faba-154	87	44	bulgaria	bulgaria	NOUN
faba-154	87	45	all	all	DET
faba-154	87	46	persons	person	NOUN
faba-154	87	47	born	bear	VERB
faba-154	87	48	after	after	ADP
faba-154	87	49	31.12.1959	31.12.1959	NUM
faba-154	87	50	4	4	NUM
faba-154	87	51	estonia	estonia	NOUN
faba-154	87	52	all	all	DET
faba-154	87	53	persons	person	NOUN
faba-154	87	54	born	bear	VERB
faba-154	87	55	after	after	ADP
faba-154	87	56	31.12.1982	31.12.1982	NUM
faba-154	87	57	5	5	NUM
faba-154	87	58	croatia	croatia	NOUN
faba-154	87	59	all	all	DET
faba-154	87	60	persons	person	NOUN
faba-154	87	61	below	below	ADP
faba-154	87	62	40	40	NUM
faba-154	87	63	years	year	NOUN
faba-154	87	64	6	6	NUM
faba-154	87	65	latvia	latvia	NOUN
faba-154	87	66	all	all	DET
faba-154	87	67	persons	person	NOUN
faba-154	87	68	below	below	ADP
faba-154	87	69	30	30	NUM
faba-154	87	70	years	year	NOUN
faba-154	87	71	on	on	ADP
faba-154	87	72	1st	1st	NOUN
faba-154	87	73	of	of	ADP
faba-154	87	74	july	july	PROPN
faba-154	87	75	2001	2001	NUM
faba-154	87	76	7	7	NUM
faba-154	87	77	lithuania	lithuania	PROPN
faba-154	87	78	all	all	DET
faba-154	87	79	persons	person	NOUN
faba-154	87	80	below	below	ADP
faba-154	87	81	40	40	NUM
faba-154	87	82	years	year	NOUN
faba-154	87	83	8	8	NUM
faba-154	87	84	slovakia	slovakia	NOUN
faba-154	87	85	all	all	DET
faba-154	87	86	persons	person	NOUN
faba-154	87	87	that	that	PRON
faba-154	87	88	start	start	VERB
faba-154	87	89	work	work	NOUN
faba-154	87	90	after	after	ADP
faba-154	87	91	01.01.2005	01.01.2005	PROPN
faba-154	87	92	9	9	NUM
faba-154	87	93	romania	romania	NOUN
faba-154	87	94	all	all	DET
faba-154	87	95	persons	person	NOUN
faba-154	87	96	below	below	ADP
faba-154	87	97	35	35	NUM
faba-154	87	98	years	year	NOUN
faba-154	87	99	source	source	NOUN
faba-154	87	100	:	:	PUNCT
faba-154	87	101	oecd	oecd	PROPN
faba-154	87	102	(	(	PUNCT
faba-154	87	103	2004	2004	NUM
faba-154	87	104	,	,	PUNCT
faba-154	87	105	2008	2008	NUM
faba-154	87	106	)	)	PUNCT
faba-154	87	107	;	;	PUNCT
faba-154	87	108	bejakovic	bejakovic	X
faba-154	87	109	(	(	PUNCT
faba-154	87	110	2019	2019	NUM
faba-154	87	111	)	)	PUNCT
faba-154	87	112	the	the	DET
faba-154	87	113	start	start	NOUN
faba-154	87	114	of	of	ADP
faba-154	87	115	the	the	DET
faba-154	87	116	reform	reform	NOUN
faba-154	87	117	was	be	AUX
faba-154	87	118	promising	promise	VERB
faba-154	87	119	,	,	PUNCT
faba-154	87	120	and	and	CCONJ
faba-154	87	121	many	many	ADJ
faba-154	87	122	individuals	individual	NOUN
faba-154	87	123	were	be	AUX
faba-154	87	124	convinced	convince	VERB
faba-154	87	125	that	that	SCONJ
faba-154	87	126	pension	pension	NOUN
faba-154	87	127	systems	system	NOUN
faba-154	87	128	needed	need	VERB
faba-154	87	129	the	the	DET
faba-154	87	130	adopted	adopt	VERB
faba-154	87	131	change	change	NOUN
faba-154	87	132	.	.	PUNCT
faba-154	88	1	despite	despite	SCONJ
faba-154	88	2	the	the	DET
faba-154	88	3	initial	initial	ADJ
faba-154	88	4	enthusiasm	enthusiasm	NOUN
faba-154	88	5	,	,	PUNCT
faba-154	88	6	the	the	DET
faba-154	88	7	new	new	ADJ
faba-154	88	8	pension	pension	NOUN
faba-154	88	9	funds	fund	NOUN
faba-154	88	10	had	have	VERB
faba-154	88	11	to	to	PART
faba-154	88	12	respond	respond	VERB
faba-154	88	13	to	to	ADP
faba-154	88	14	many	many	ADJ
faba-154	88	15	challenges	challenge	NOUN
faba-154	88	16	in	in	ADP
faba-154	88	17	the	the	DET
faba-154	88	18	following	following	ADJ
faba-154	88	19	years	year	NOUN
faba-154	88	20	.	.	PUNCT
faba-154	89	1	one	one	NUM
faba-154	89	2	of	of	ADP
faba-154	89	3	the	the	DET
faba-154	89	4	first	first	ADJ
faba-154	89	5	appeared	appear	VERB
faba-154	89	6	on	on	ADP
faba-154	89	7	the	the	DET
faba-154	89	8	surface	surface	NOUN
faba-154	89	9	just	just	ADV
faba-154	89	10	a	a	DET
faba-154	89	11	few	few	ADJ
faba-154	89	12	years	year	NOUN
faba-154	89	13	after	after	ADP
faba-154	89	14	the	the	DET
faba-154	89	15	beginning	beginning	NOUN
faba-154	89	16	.	.	PUNCT
faba-154	90	1	the	the	DET
faba-154	90	2	government	government	NOUN
faba-154	90	3	in	in	ADP
faba-154	90	4	hungary	hungary	PROPN
faba-154	90	5	was	be	AUX
faba-154	90	6	not	not	PART
faba-154	90	7	satisfied	satisfied	ADJ
faba-154	90	8	with	with	ADP
faba-154	90	9	the	the	DET
faba-154	90	10	position	position	NOUN
faba-154	90	11	of	of	ADP
faba-154	90	12	the	the	DET
faba-154	90	13	european	european	PROPN
faba-154	90	14	commission	commission	PROPN
faba-154	90	15	that	that	PRON
faba-154	90	16	funds	fund	NOUN
faba-154	90	17	accumulated	accumulate	VERB
faba-154	90	18	into	into	ADP
faba-154	90	19	the	the	DET
faba-154	90	20	second	second	ADJ
faba-154	90	21	pillar	pillar	NOUN
faba-154	90	22	can	can	AUX
faba-154	90	23	not	not	PART
faba-154	90	24	be	be	AUX
faba-154	90	25	deducted	deduct	VERB
faba-154	90	26	from	from	ADP
faba-154	90	27	the	the	DET
faba-154	90	28	official	official	ADJ
faba-154	90	29	public	public	ADJ
faba-154	90	30	debt	debt	NOUN
faba-154	90	31	.	.	PUNCT
faba-154	91	1	the	the	DET
faba-154	91	2	growing	grow	VERB
faba-154	91	3	liabilities	liability	NOUN
faba-154	91	4	of	of	ADP
faba-154	91	5	the	the	DET
faba-154	91	6	government	government	NOUN
faba-154	91	7	appeared	appear	VERB
faba-154	91	8	to	to	PART
faba-154	91	9	be	be	AUX
faba-154	91	10	a	a	DET
faba-154	91	11	threatening	threatening	ADJ
faba-154	91	12	circumstance	circumstance	NOUN
faba-154	91	13	for	for	ADP
faba-154	91	14	the	the	DET
faba-154	91	15	pension	pension	NOUN
faba-154	91	16	funds	fund	NOUN
faba-154	91	17	.	.	PUNCT
faba-154	92	1	the	the	DET
faba-154	92	2	policymakers	policymaker	NOUN
faba-154	92	3	in	in	ADP
faba-154	92	4	the	the	DET
faba-154	92	5	country	country	NOUN
faba-154	92	6	made	make	VERB
faba-154	92	7	a	a	DET
faba-154	92	8	“	"	PUNCT
faba-154	92	9	reversal	reversal	NOUN
faba-154	92	10	”	"	PUNCT
faba-154	92	11	reform	reform	NOUN
faba-154	92	12	and	and	CCONJ
faba-154	92	13	seized	seize	VERB
faba-154	92	14	the	the	DET
faba-154	92	15	funds	fund	NOUN
faba-154	92	16	accumulated	accumulate	VERB
faba-154	92	17	for	for	ADP
faba-154	92	18	a	a	DET
faba-154	92	19	period	period	NOUN
faba-154	92	20	of	of	ADP
faba-154	92	21	13	13	NUM
faba-154	92	22	years	year	NOUN
faba-154	92	23	.	.	PUNCT
faba-154	93	1	so	so	ADV
faba-154	93	2	,	,	PUNCT
faba-154	93	3	in	in	ADP
faba-154	93	4	2011	2011	NUM
faba-154	93	5	the	the	DET
faba-154	93	6	hungarian	hungarian	ADJ
faba-154	93	7	compulsory	compulsory	ADJ
faba-154	93	8	second	second	ADJ
faba-154	93	9	pillar	pillar	NOUN
faba-154	93	10	pension	pension	NOUN
faba-154	93	11	funds	fund	NOUN
faba-154	93	12	stopped	stop	VERB
faba-154	93	13	to	to	PART
faba-154	93	14	exist	exist	VERB
faba-154	93	15	.	.	PUNCT
faba-154	94	1	the	the	DET
faba-154	94	2	reversal	reversal	NOUN
faba-154	94	3	was	be	AUX
faba-154	94	4	made	make	VERB
faba-154	94	5	by	by	ADP
faba-154	94	6	introducing	introduce	VERB
faba-154	94	7	strong	strong	ADJ
faba-154	94	8	incentives7	incentives7	NOUN
faba-154	94	9	for	for	SCONJ
faba-154	94	10	all	all	DET
faba-154	94	11	individuals	individual	NOUN
faba-154	94	12	to	to	PART
faba-154	94	13	transfer	transfer	VERB
faba-154	94	14	“	"	PUNCT
faba-154	94	15	voluntarily	voluntarily	ADV
faba-154	94	16	”	"	PUNCT
faba-154	94	17	their	their	PRON
faba-154	94	18	accumulated	accumulate	VERB
faba-154	94	19	resources	resource	NOUN
faba-154	94	20	into	into	ADP
faba-154	94	21	the	the	DET
faba-154	94	22	first	first	ADJ
faba-154	94	23	pillar	pillar	NOUN
faba-154	94	24	of	of	ADP
faba-154	94	25	the	the	DET
faba-154	94	26	system	system	NOUN
faba-154	94	27	.	.	PUNCT
faba-154	95	1	similar	similar	ADJ
faba-154	95	2	transformation	transformation	NOUN
faba-154	95	3	was	be	AUX
faba-154	95	4	made	make	VERB
faba-154	95	5	in	in	ADP
faba-154	95	6	poland	poland	PROPN
faba-154	95	7	a	a	DET
faba-154	95	8	few	few	ADJ
faba-154	95	9	years	year	NOUN
faba-154	95	10	later	later	ADV
faba-154	95	11	.	.	PUNCT
faba-154	96	1	due	due	ADP
faba-154	96	2	to	to	ADP
faba-154	96	3	the	the	DET
faba-154	96	4	wish	wish	NOUN
faba-154	96	5	of	of	ADP
faba-154	96	6	the	the	DET
faba-154	96	7	government	government	NOUN
faba-154	96	8	to	to	PART
faba-154	96	9	keep	keep	VERB
faba-154	96	10	the	the	DET
faba-154	96	11	ratio	ratio	NOUN
faba-154	96	12	public	public	ADJ
faba-154	96	13	debt	debt	NOUN
faba-154	96	14	/	/	SYM
faba-154	96	15	gdp	gdp	NOUN
faba-154	96	16	on	on	ADP
faba-154	96	17	acceptable	acceptable	ADJ
faba-154	96	18	level	level	NOUN
faba-154	96	19	,	,	PUNCT
faba-154	96	20	the	the	DET
faba-154	96	21	ruling	rule	VERB
faba-154	96	22	class	class	NOUN
faba-154	96	23	forced	force	VERB
faba-154	96	24	second	second	ADJ
faba-154	96	25	pillar	pillar	NOUN
faba-154	96	26	pension	pension	NOUN
faba-154	96	27	funds	fund	NOUN
faba-154	96	28	to	to	PART
faba-154	96	29	transfer	transfer	VERB
faba-154	96	30	their	their	PRON
faba-154	96	31	polish	polish	ADJ
faba-154	96	32	government	government	NOUN
faba-154	96	33	bonds	bond	NOUN
faba-154	96	34	into	into	ADP
faba-154	96	35	the	the	DET
faba-154	96	36	state	state	NOUN
faba-154	96	37	social	social	ADJ
faba-154	96	38	security	security	NOUN
faba-154	96	39	system	system	NOUN
faba-154	96	40	.	.	PUNCT
faba-154	97	1	then	then	ADV
faba-154	97	2	,	,	PUNCT
faba-154	97	3	the	the	DET
faba-154	97	4	state	state	NOUN
faba-154	97	5	officials	official	NOUN
faba-154	97	6	promised	promise	VERB
faba-154	97	7	to	to	PART
faba-154	97	8	take	take	VERB
faba-154	97	9	responsibility	responsibility	NOUN
faba-154	97	10	of	of	ADP
faba-154	97	11	paying	pay	VERB
faba-154	97	12	an	an	DET
faba-154	97	13	additional	additional	ADJ
faba-154	97	14	part	part	NOUN
faba-154	97	15	of	of	ADP
faba-154	97	16	the	the	DET
faba-154	97	17	pension	pension	NOUN
faba-154	97	18	benefits	benefit	NOUN
faba-154	97	19	proportionate	proportionate	ADJ
faba-154	97	20	to	to	ADP
faba-154	97	21	the	the	DET
faba-154	97	22	share	share	NOUN
faba-154	97	23	of	of	ADP
faba-154	97	24	government	government	NOUN
faba-154	97	25	securities	security	NOUN
faba-154	97	26	transferred	transfer	VERB
faba-154	97	27	to	to	ADP
faba-154	97	28	the	the	DET
faba-154	97	29	budget	budget	NOUN
faba-154	97	30	.	.	PUNCT
faba-154	98	1	polish	polish	ADJ
faba-154	98	2	pension	pension	NOUN
faba-154	98	3	funds	fund	NOUN
faba-154	98	4	were	be	AUX
faba-154	98	5	restricted	restrict	VERB
faba-154	98	6	to	to	PART
faba-154	98	7	invest	invest	VERB
faba-154	98	8	primarily	primarily	ADV
faba-154	98	9	into	into	ADP
faba-154	98	10	corporate	corporate	ADJ
faba-154	98	11	instruments	instrument	NOUN
faba-154	98	12	,	,	PUNCT
faba-154	98	13	and	and	CCONJ
faba-154	98	14	at	at	ADP
faba-154	98	15	the	the	DET
faba-154	98	16	same	same	ADJ
faba-154	98	17	time	time	NOUN
faba-154	98	18	they	they	PRON
faba-154	98	19	started	start	VERB
faba-154	98	20	to	to	PART
faba-154	98	21	gradually	gradually	ADV
faba-154	98	22	transfer	transfer	VERB
faba-154	98	23	the	the	DET
faba-154	98	24	savings	saving	NOUN
faba-154	98	25	of	of	ADP
faba-154	98	26	those	those	DET
faba-154	98	27	individuals	individual	NOUN
faba-154	98	28	who	who	PRON
faba-154	98	29	have	have	VERB
faba-154	98	30	10	10	NUM
faba-154	98	31	years	year	NOUN
faba-154	98	32	to	to	PART
faba-154	98	33	retirement	retirement	VERB
faba-154	98	34	into	into	ADP
faba-154	98	35	the	the	DET
faba-154	98	36	state	state	NOUN
faba-154	98	37	payg	payg	NOUN
faba-154	98	38	7	7	NUM
faba-154	98	39	the	the	DET
faba-154	98	40	adopted	adopt	VERB
faba-154	98	41	new	new	ADJ
faba-154	98	42	regulation	regulation	NOUN
faba-154	98	43	required	require	VERB
faba-154	98	44	those	those	PRON
faba-154	98	45	who	who	PRON
faba-154	98	46	choose	choose	VERB
faba-154	98	47	to	to	PART
faba-154	98	48	stay	stay	VERB
faba-154	98	49	within	within	ADP
faba-154	98	50	the	the	DET
faba-154	98	51	second	second	ADJ
faba-154	98	52	pillar	pillar	NOUN
faba-154	98	53	to	to	PART
faba-154	98	54	give	give	VERB
faba-154	98	55	up	up	ADP
faba-154	98	56	their	their	PRON
faba-154	98	57	pension	pension	NOUN
faba-154	98	58	benefit	benefit	NOUN
faba-154	98	59	due	due	ADJ
faba-154	98	60	by	by	ADP
faba-154	98	61	the	the	DET
faba-154	98	62	state	state	NOUN
faba-154	98	63	.	.	PUNCT
faba-154	99	1	jeko	jeko	NOUN
faba-154	99	2	milev	milev	NOUN
faba-154	99	3	/	/	SYM
faba-154	99	4	finance	finance	NOUN
faba-154	99	5	,	,	PUNCT
faba-154	99	6	accounting	accounting	NOUN
faba-154	99	7	and	and	CCONJ
faba-154	99	8	business	business	NOUN
faba-154	99	9	analysis	analysis	NOUN
faba-154	99	10	,	,	PUNCT
faba-154	99	11	volume	volume	NOUN
faba-154	99	12	5	5	NUM
faba-154	99	13	,	,	PUNCT
faba-154	99	14	issue	issue	NOUN
faba-154	99	15	1	1	NUM
faba-154	99	16	,	,	PUNCT
faba-154	99	17	2023	2023	NUM
faba-154	99	18	74	74	NUM
faba-154	99	19	pillar	pillar	NOUN
faba-154	99	20	.	.	PUNCT
faba-154	100	1	no	no	DET
faba-154	100	2	other	other	ADJ
faba-154	100	3	cee	cee	NOUN
faba-154	100	4	government	government	NOUN
faba-154	100	5	took	take	VERB
faba-154	100	6	actions	action	NOUN
faba-154	100	7	like	like	ADP
faba-154	100	8	these	these	PRON
faba-154	100	9	,	,	PUNCT
faba-154	100	10	but	but	CCONJ
faba-154	100	11	some	some	DET
faba-154	100	12	milder	mild	ADJ
faba-154	100	13	measures	measure	NOUN
faba-154	100	14	aimed	aim	VERB
faba-154	100	15	at	at	ADP
faba-154	100	16	constraining	constrain	VERB
faba-154	100	17	the	the	DET
faba-154	100	18	activity	activity	NOUN
faba-154	100	19	of	of	ADP
faba-154	100	20	pension	pension	NOUN
faba-154	100	21	funds	fund	NOUN
faba-154	100	22	were	be	AUX
faba-154	100	23	assumed	assume	VERB
faba-154	100	24	by	by	ADP
faba-154	100	25	each	each	PRON
faba-154	100	26	of	of	ADP
faba-154	100	27	the	the	DET
faba-154	100	28	researched	research	VERB
faba-154	100	29	countries	country	NOUN
faba-154	100	30	.	.	PUNCT
faba-154	101	1	the	the	DET
faba-154	101	2	following	follow	VERB
faba-154	101	3	table	table	NOUN
faba-154	101	4	summarizes	summarize	NOUN
faba-154	101	5	some	some	PRON
faba-154	101	6	of	of	ADP
faba-154	101	7	them	they	PRON
faba-154	101	8	.	.	PUNCT
faba-154	102	1	table	table	NOUN
faba-154	102	2	3	3	NUM
faba-154	102	3	.	.	PUNCT
faba-154	103	1	regulative	regulative	ADJ
faba-154	103	2	changes	change	NOUN
faba-154	103	3	made	make	VERB
faba-154	103	4	in	in	ADP
faba-154	103	5	the	the	DET
faba-154	103	6	cee	cee	NOUN
faba-154	103	7	countries	country	NOUN
faba-154	103	8	aimed	aim	VERB
faba-154	103	9	at	at	ADP
faba-154	103	10	constraining	constrain	VERB
faba-154	103	11	the	the	DET
faba-154	103	12	activity	activity	NOUN
faba-154	103	13	of	of	ADP
faba-154	103	14	second	second	ADJ
faba-154	103	15	pillar	pillar	NOUN
faba-154	103	16	pension	pension	NOUN
faba-154	103	17	funds	fund	NOUN
faba-154	103	18	n	n	CCONJ
faba-154	103	19	:	:	PUNCT
faba-154	103	20	country	country	NOUN
faba-154	103	21	measure	measure	NOUN
faba-154	103	22	taken	take	VERB
faba-154	103	23	by	by	ADP
faba-154	103	24	the	the	DET
faba-154	103	25	policymakers	policymaker	NOUN
faba-154	103	26	1	1	NUM
faba-154	103	27	hungary	hungary	NOUN
faba-154	103	28	full	full	ADJ
faba-154	103	29	“	"	PUNCT
faba-154	103	30	reversal	reversal	NOUN
faba-154	103	31	”	"	PUNCT
faba-154	103	32	reform	reform	NOUN
faba-154	103	33	(	(	PUNCT
faba-154	103	34	seizure	seizure	NOUN
faba-154	103	35	of	of	ADP
faba-154	103	36	pension	pension	NOUN
faba-154	103	37	assets	asset	NOUN
faba-154	103	38	)	)	PUNCT
faba-154	103	39	2	2	NUM
faba-154	103	40	poland	poland	PROPN
faba-154	103	41	contribution	contribution	NOUN
faba-154	103	42	rate	rate	NOUN
faba-154	103	43	reduced	reduce	VERB
faba-154	103	44	to	to	ADP
faba-154	103	45	2.92	2.92	NUM
faba-154	103	46	%	%	NOUN
faba-154	103	47	.	.	PUNCT
faba-154	104	1	assets	asset	NOUN
faba-154	104	2	in	in	ADP
faba-154	104	3	government	government	NOUN
faba-154	104	4	bonds	bond	NOUN
faba-154	104	5	transferred	transfer	VERB
faba-154	104	6	to	to	ADP
faba-154	104	7	the	the	DET
faba-154	104	8	state	state	NOUN
faba-154	104	9	social	social	ADJ
faba-154	104	10	security	security	NOUN
faba-154	104	11	system	system	NOUN
faba-154	104	12	and	and	CCONJ
faba-154	104	13	redeemed	redeem	VERB
faba-154	104	14	.	.	PUNCT
faba-154	105	1	assets	asset	NOUN
faba-154	105	2	from	from	ADP
faba-154	105	3	pension	pension	NOUN
faba-154	105	4	funds	fund	NOUN
faba-154	105	5	transferred	transfer	VERB
faba-154	105	6	gradually	gradually	ADV
faba-154	105	7	to	to	PART
faba-154	105	8	payg	payg	VERB
faba-154	105	9	pillar	pillar	NOUN
faba-154	105	10	10	10	NUM
faba-154	105	11	years	year	NOUN
faba-154	105	12	prior	prior	ADV
faba-154	105	13	to	to	ADP
faba-154	105	14	retirement	retirement	NOUN
faba-154	105	15	.	.	PUNCT
faba-154	106	1	3	3	NUM
faba-154	106	2	bulgaria	bulgaria	PROPN
faba-154	106	3	part	part	NOUN
faba-154	106	4	of	of	ADP
faba-154	106	5	the	the	DET
faba-154	106	6	assets	asset	NOUN
faba-154	106	7	of	of	ADP
faba-154	106	8	occupational	occupational	ADJ
faba-154	106	9	pension	pension	NOUN
faba-154	106	10	funds	fund	NOUN
faba-154	106	11	were	be	AUX
faba-154	106	12	seized	seize	VERB
faba-154	106	13	.	.	PUNCT
faba-154	107	1	insured	insure	VERB
faba-154	107	2	individuals	individual	NOUN
faba-154	107	3	were	be	AUX
faba-154	107	4	allowed	allow	VERB
faba-154	107	5	to	to	PART
faba-154	107	6	transfer	transfer	VERB
faba-154	107	7	their	their	PRON
faba-154	107	8	resources	resource	NOUN
faba-154	107	9	from	from	ADP
faba-154	107	10	the	the	DET
faba-154	107	11	second	second	NOUN
faba-154	107	12	into	into	ADP
faba-154	107	13	the	the	DET
faba-154	107	14	first	first	ADJ
faba-154	107	15	pillar	pillar	NOUN
faba-154	107	16	of	of	ADP
faba-154	107	17	the	the	DET
faba-154	107	18	system	system	NOUN
faba-154	107	19	.	.	PUNCT
faba-154	108	1	contribution	contribution	NOUN
faba-154	108	2	rate	rate	NOUN
faba-154	108	3	remains	remain	VERB
faba-154	108	4	at	at	ADP
faba-154	108	5	5	5	NUM
faba-154	108	6	%	%	NOUN
faba-154	108	7	.	.	PUNCT
faba-154	109	1	4	4	NUM
faba-154	109	2	estonia	estonia	PROPN
faba-154	109	3	6	6	NUM
faba-154	109	4	%	%	NOUN
faba-154	109	5	contribution	contribution	NOUN
faba-154	109	6	rate	rate	NOUN
faba-154	109	7	cut	cut	VERB
faba-154	109	8	to	to	ADP
faba-154	109	9	0	0	NUM
faba-154	109	10	%	%	NOUN
faba-154	109	11	between	between	ADP
faba-154	109	12	june	june	PROPN
faba-154	109	13	2009	2009	NUM
faba-154	109	14	and	and	CCONJ
faba-154	109	15	january	january	PROPN
faba-154	109	16	2011	2011	NUM
faba-154	109	17	and	and	CCONJ
faba-154	109	18	shifted	shift	VERB
faba-154	109	19	to	to	ADP
faba-154	109	20	payg	payg	NOUN
faba-154	109	21	.	.	PUNCT
faba-154	110	1	then	then	ADV
faba-154	110	2	gradual	gradual	ADJ
faba-154	110	3	increase	increase	NOUN
faba-154	110	4	from	from	ADP
faba-154	110	5	2011	2011	NUM
faba-154	110	6	.	.	PUNCT
faba-154	111	1	5	5	NUM
faba-154	111	2	croatia	croatia	PROPN
faba-154	111	3	option	option	NOUN
faba-154	111	4	to	to	PART
faba-154	111	5	exit	exit	VERB
faba-154	111	6	the	the	DET
faba-154	111	7	scheme	scheme	NOUN
faba-154	111	8	6	6	NUM
faba-154	111	9	latvia	latvia	PROPN
faba-154	111	10	8	8	NUM
faba-154	111	11	%	%	NOUN
faba-154	111	12	contribution	contribution	NOUN
faba-154	111	13	rate	rate	NOUN
faba-154	111	14	reduced	reduce	VERB
faba-154	111	15	to	to	ADP
faba-154	111	16	2	2	NUM
faba-154	111	17	%	%	NOUN
faba-154	111	18	in	in	ADP
faba-154	111	19	may	may	PROPN
faba-154	111	20	2009	2009	NUM
faba-154	111	21	.	.	PUNCT
faba-154	112	1	then	then	ADV
faba-154	112	2	increased	increase	VERB
faba-154	112	3	to	to	ADP
faba-154	112	4	4	4	NUM
faba-154	112	5	%	%	NOUN
faba-154	112	6	from	from	ADP
faba-154	112	7	2013	2013	NUM
faba-154	112	8	7	7	NUM
faba-154	112	9	lithuania	lithuania	PROPN
faba-154	112	10	5.5	5.5	NUM
faba-154	112	11	%	%	NOUN
faba-154	112	12	contribution	contribution	NOUN
faba-154	112	13	rate	rate	NOUN
faba-154	112	14	reduced	reduce	VERB
faba-154	112	15	to	to	ADP
faba-154	112	16	2	2	NUM
faba-154	112	17	%	%	NOUN
faba-154	112	18	in	in	ADP
faba-154	112	19	2009	2009	NUM
faba-154	112	20	.	.	PUNCT
faba-154	113	1	introduced	introduce	VERB
faba-154	113	2	voluntary	voluntary	ADJ
faba-154	113	3	participation	participation	NOUN
faba-154	113	4	8	8	NUM
faba-154	113	5	slovakia	slovakia	NOUN
faba-154	113	6	9	9	NUM
faba-154	113	7	%	%	NOUN
faba-154	113	8	contribution	contribution	NOUN
faba-154	113	9	rate	rate	NOUN
faba-154	113	10	reduced	reduce	VERB
faba-154	113	11	to	to	ADP
faba-154	113	12	4	4	NUM
faba-154	113	13	%	%	NOUN
faba-154	113	14	in	in	ADP
faba-154	113	15	2013	2013	NUM
faba-154	113	16	.	.	PUNCT
faba-154	114	1	option	option	NOUN
faba-154	114	2	to	to	PART
faba-154	114	3	enter	enter	VERB
faba-154	114	4	and	and	CCONJ
faba-154	114	5	to	to	PART
faba-154	114	6	exit	exit	VERB
faba-154	114	7	the	the	DET
faba-154	114	8	scheme	scheme	NOUN
faba-154	114	9	9	9	NUM
faba-154	114	10	romania	romania	NOUN
faba-154	114	11	reduction	reduction	NOUN
faba-154	114	12	in	in	ADP
faba-154	114	13	planned	plan	VERB
faba-154	114	14	growth	growth	NOUN
faba-154	114	15	path	path	NOUN
faba-154	114	16	of	of	ADP
faba-154	114	17	contribution	contribution	NOUN
faba-154	114	18	rate	rate	NOUN
faba-154	114	19	from	from	ADP
faba-154	114	20	2	2	NUM
faba-154	114	21	%	%	NOUN
faba-154	114	22	to	to	ADP
faba-154	114	23	6	6	NUM
faba-154	114	24	%	%	NOUN
faba-154	114	25	.	.	PUNCT
faba-154	115	1	rate	rate	NOUN
faba-154	115	2	froze	freeze	VERB
faba-154	115	3	at	at	ADP
faba-154	115	4	2	2	NUM
faba-154	115	5	%	%	NOUN
faba-154	115	6	,	,	PUNCT
faba-154	115	7	started	start	VERB
faba-154	115	8	to	to	PART
faba-154	115	9	increase	increase	VERB
faba-154	115	10	from	from	ADP
faba-154	115	11	2011	2011	NUM
faba-154	115	12	at	at	ADP
faba-154	115	13	annual	annual	ADJ
faba-154	115	14	rate	rate	NOUN
faba-154	115	15	of	of	ADP
faba-154	115	16	0.5	0.5	NUM
faba-154	115	17	p.p	p.p	PROPN
faba-154	115	18	.	.	PROPN
faba-154	115	19	source	source	NOUN
faba-154	115	20	:	:	PUNCT
faba-154	115	21	bielawska	bielawska	NOUN
faba-154	115	22	(	(	PUNCT
faba-154	115	23	2015	2015	NUM
faba-154	115	24	)	)	PUNCT
faba-154	115	25	,	,	PUNCT
faba-154	116	1	[	[	X
faba-154	116	2	based	base	VERB
faba-154	116	3	on	on	ADP
faba-154	116	4	price	price	NOUN
faba-154	116	5	and	and	CCONJ
faba-154	116	6	rudolph	rudolph	NOUN
faba-154	116	7	(	(	PUNCT
faba-154	116	8	2013	2013	NUM
faba-154	116	9	)	)	PUNCT
faba-154	116	10	and	and	CCONJ
faba-154	116	11	schwarz	schwarz	NOUN
faba-154	116	12	(	(	PUNCT
faba-154	116	13	2011	2011	NUM
faba-154	116	14	)	)	PUNCT
faba-154	116	15	]	]	PUNCT
faba-154	116	16	and	and	CCONJ
faba-154	116	17	author	author	NOUN
faba-154	116	18	’s	’s	PART
faba-154	116	19	update	update	NOUN
faba-154	116	20	the	the	DET
faba-154	116	21	adopted	adopt	VERB
faba-154	116	22	changes	change	NOUN
faba-154	116	23	undoubtfully	undoubtfully	ADV
faba-154	116	24	show	show	VERB
faba-154	116	25	that	that	PRON
faba-154	116	26	second	second	ADJ
faba-154	116	27	pillar	pillar	NOUN
faba-154	116	28	pension	pension	NOUN
faba-154	116	29	funds	fund	NOUN
faba-154	116	30	in	in	ADP
faba-154	116	31	the	the	DET
faba-154	116	32	cee	cee	NOUN
faba-154	116	33	region	region	NOUN
faba-154	116	34	are	be	AUX
faba-154	116	35	exposed	expose	VERB
faba-154	116	36	to	to	ADP
faba-154	116	37	significant	significant	ADJ
faba-154	116	38	political	political	ADJ
faba-154	116	39	risk	risk	NOUN
faba-154	116	40	.	.	PUNCT
faba-154	117	1	though	though	SCONJ
faba-154	117	2	managed	manage	VERB
faba-154	117	3	by	by	ADP
faba-154	117	4	private	private	ADJ
faba-154	117	5	institutions	institution	NOUN
faba-154	117	6	,	,	PUNCT
faba-154	117	7	these	these	DET
faba-154	117	8	types	type	NOUN
faba-154	117	9	of	of	ADP
faba-154	117	10	pension	pension	NOUN
faba-154	117	11	schemes	scheme	NOUN
faba-154	117	12	are	be	AUX
faba-154	117	13	financed	finance	VERB
faba-154	117	14	by	by	ADP
faba-154	117	15	compulsory	compulsory	ADJ
faba-154	117	16	contributions	contribution	NOUN
faba-154	117	17	and	and	CCONJ
faba-154	117	18	that	that	PRON
faba-154	117	19	makes	make	VERB
faba-154	117	20	them	they	PRON
faba-154	117	21	quite	quite	ADV
faba-154	117	22	vulnerable	vulnerable	ADJ
faba-154	117	23	to	to	ADP
faba-154	117	24	political	political	ADJ
faba-154	117	25	decisions	decision	NOUN
faba-154	117	26	.	.	PUNCT
faba-154	118	1	the	the	DET
faba-154	118	2	governments	government	NOUN
faba-154	118	3	in	in	ADP
faba-154	118	4	all	all	DET
faba-154	118	5	countries	country	NOUN
faba-154	118	6	were	be	AUX
faba-154	118	7	inclined	incline	VERB
faba-154	118	8	to	to	PART
faba-154	118	9	consider	consider	VERB
faba-154	118	10	the	the	DET
faba-154	118	11	second	second	ADJ
faba-154	118	12	pillar	pillar	NOUN
faba-154	118	13	as	as	ADP
faba-154	118	14	part	part	NOUN
faba-154	118	15	of	of	ADP
faba-154	118	16	the	the	DET
faba-154	118	17	public	public	ADJ
faba-154	118	18	pension	pension	NOUN
faba-154	118	19	systems	system	NOUN
faba-154	118	20	and	and	CCONJ
faba-154	118	21	the	the	DET
faba-154	118	22	past	past	ADJ
faba-154	118	23	experience	experience	NOUN
faba-154	118	24	proves	prove	VERB
faba-154	118	25	that	that	SCONJ
faba-154	118	26	they	they	PRON
faba-154	118	27	can	can	AUX
faba-154	118	28	easily	easily	ADV
faba-154	118	29	change	change	VERB
faba-154	118	30	the	the	DET
faba-154	118	31	rules	rule	NOUN
faba-154	118	32	in	in	ADP
faba-154	118	33	a	a	DET
faba-154	118	34	way	way	NOUN
faba-154	118	35	that	that	PRON
faba-154	118	36	puts	put	VERB
faba-154	118	37	the	the	DET
faba-154	118	38	funds	fund	NOUN
faba-154	118	39	under	under	ADP
faba-154	118	40	significant	significant	ADJ
faba-154	118	41	risk	risk	NOUN
faba-154	118	42	.	.	PUNCT
faba-154	119	1	the	the	DET
faba-154	119	2	basic	basic	ADJ
faba-154	119	3	reason	reason	NOUN
faba-154	119	4	for	for	ADP
faba-154	119	5	the	the	DET
faba-154	119	6	accomplished	accomplished	ADJ
faba-154	119	7	reverse	reverse	ADJ
faba-154	119	8	reforms	reform	NOUN
faba-154	119	9	was	be	AUX
faba-154	119	10	related	relate	VERB
faba-154	119	11	to	to	ADP
faba-154	119	12	the	the	DET
faba-154	119	13	need	need	NOUN
faba-154	119	14	for	for	ADP
faba-154	119	15	additional	additional	ADJ
faba-154	119	16	resources	resource	NOUN
faba-154	119	17	that	that	PRON
faba-154	119	18	could	could	AUX
faba-154	119	19	temporarily	temporarily	ADV
faba-154	119	20	relax	relax	VERB
faba-154	119	21	part	part	NOUN
faba-154	119	22	of	of	ADP
faba-154	119	23	the	the	DET
faba-154	119	24	burden	burden	NOUN
faba-154	119	25	on	on	ADP
faba-154	119	26	public	public	ADJ
faba-154	119	27	finances	finance	NOUN
faba-154	119	28	,	,	PUNCT
faba-154	119	29	but	but	CCONJ
faba-154	119	30	two	two	NUM
faba-154	119	31	other	other	ADJ
faba-154	119	32	factors	factor	NOUN
faba-154	119	33	must	must	AUX
faba-154	119	34	be	be	AUX
faba-154	119	35	mentioned	mention	VERB
faba-154	119	36	as	as	ADV
faba-154	119	37	well	well	ADV
faba-154	119	38	.	.	PUNCT
faba-154	120	1	first	first	ADV
faba-154	120	2	,	,	PUNCT
faba-154	120	3	comparatively	comparatively	ADV
faba-154	120	4	low	low	ADJ
faba-154	120	5	amounts	amount	NOUN
faba-154	120	6	accumulated	accumulate	VERB
faba-154	120	7	into	into	ADP
faba-154	120	8	the	the	DET
faba-154	120	9	funds	fund	NOUN
faba-154	120	10	.	.	PUNCT
faba-154	121	1	at	at	ADV
faba-154	121	2	least	least	ADV
faba-154	121	3	three	three	NUM
faba-154	121	4	reasons	reason	NOUN
faba-154	121	5	could	could	AUX
faba-154	121	6	explain	explain	VERB
faba-154	121	7	the	the	DET
faba-154	121	8	unfavorable	unfavorable	ADJ
faba-154	121	9	situation	situation	NOUN
faba-154	121	10	:	:	PUNCT
faba-154	121	11	low	low	ADJ
faba-154	121	12	contribution	contribution	NOUN
faba-154	121	13	rates	rate	NOUN
faba-154	121	14	,	,	PUNCT
faba-154	121	15	short	short	ADJ
faba-154	121	16	period	period	NOUN
faba-154	121	17	of	of	ADP
faba-154	121	18	accumulation	accumulation	NOUN
faba-154	121	19	and	and	CCONJ
faba-154	121	20	comparatively	comparatively	ADV
faba-154	121	21	low	low	ADJ
faba-154	121	22	yield	yield	NOUN
faba-154	121	23	.	.	PUNCT
faba-154	122	1	pension	pension	NOUN
faba-154	122	2	funds	fund	NOUN
faba-154	122	3	are	be	AUX
faba-154	122	4	widely	widely	ADV
faba-154	122	5	blamed	blame	VERB
faba-154	122	6	for	for	ADP
faba-154	122	7	the	the	DET
faba-154	122	8	realized	realize	VERB
faba-154	122	9	yield	yield	NOUN
faba-154	122	10	for	for	ADP
faba-154	122	11	the	the	DET
faba-154	122	12	time	time	NOUN
faba-154	122	13	of	of	ADP
faba-154	122	14	their	their	PRON
faba-154	122	15	existence	existence	NOUN
faba-154	122	16	,	,	PUNCT
faba-154	122	17	but	but	CCONJ
faba-154	122	18	in	in	ADP
faba-154	122	19	an	an	DET
faba-154	122	20	environment	environment	NOUN
faba-154	122	21	of	of	ADP
faba-154	122	22	very	very	ADV
faba-154	122	23	strict	strict	ADJ
faba-154	122	24	regulation	regulation	NOUN
faba-154	122	25	rules	rule	NOUN
faba-154	122	26	and	and	CCONJ
faba-154	122	27	extremely	extremely	ADV
faba-154	122	28	low	low	ADJ
faba-154	122	29	interest	interest	NOUN
faba-154	122	30	rates	rate	NOUN
faba-154	122	31	for	for	ADP
faba-154	122	32	more	more	ADJ
faba-154	122	33	than	than	ADP
faba-154	122	34	a	a	PRON
faba-154	122	35	decade	decade	NOUN
faba-154	122	36	,	,	PUNCT
faba-154	122	37	the	the	DET
faba-154	122	38	achieved	achieve	VERB
faba-154	122	39	low	low	ADJ
faba-154	122	40	return	return	NOUN
faba-154	122	41	is	be	AUX
faba-154	122	42	not	not	PART
faba-154	122	43	a	a	DET
faba-154	122	44	surprise	surprise	NOUN
faba-154	122	45	.	.	PUNCT
faba-154	123	1	however	however	ADV
faba-154	123	2	,	,	PUNCT
faba-154	123	3	the	the	DET
faba-154	123	4	pension	pension	NOUN
faba-154	123	5	funds	fund	NOUN
faba-154	123	6	,	,	PUNCT
faba-154	123	7	in	in	ADP
faba-154	123	8	those	those	DET
faba-154	123	9	countries	country	NOUN
faba-154	123	10	with	with	ADP
faba-154	123	11	established	establish	VERB
faba-154	123	12	multi	multi	ADJ
faba-154	123	13	-	-	ADJ
faba-154	123	14	fund	fund	NOUN
faba-154	123	15	systems	system	NOUN
faba-154	123	16	,	,	PUNCT
faba-154	123	17	were	be	AUX
faba-154	123	18	able	able	ADJ
faba-154	123	19	to	to	PART
faba-154	123	20	realize	realize	VERB
faba-154	123	21	significantly	significantly	ADV
faba-154	123	22	higher	high	ADJ
faba-154	123	23	returns	return	NOUN
faba-154	123	24	in	in	ADP
faba-154	123	25	the	the	DET
faba-154	123	26	aggressive	aggressive	ADJ
faba-154	123	27	portfolios	portfolio	NOUN
faba-154	123	28	than	than	ADP
faba-154	123	29	in	in	ADP
faba-154	123	30	the	the	DET
faba-154	123	31	conservative	conservative	ADJ
faba-154	123	32	and	and	CCONJ
faba-154	123	33	balanced	balanced	ADJ
faba-154	123	34	ones	one	NOUN
faba-154	123	35	.	.	PUNCT
faba-154	124	1	the	the	DET
faba-154	124	2	countries	country	NOUN
faba-154	124	3	which	which	PRON
faba-154	124	4	did	do	AUX
faba-154	124	5	not	not	PART
faba-154	124	6	introduce	introduce	VERB
faba-154	124	7	portfolios	portfolio	NOUN
faba-154	124	8	with	with	ADP
faba-154	124	9	different	different	ADJ
faba-154	124	10	risk	risk	NOUN
faba-154	124	11	profiles	profile	NOUN
faba-154	124	12	were	be	AUX
faba-154	124	13	not	not	PART
faba-154	124	14	able	able	ADJ
faba-154	124	15	to	to	PART
faba-154	124	16	take	take	VERB
faba-154	124	17	advantage	advantage	NOUN
faba-154	124	18	of	of	ADP
faba-154	124	19	the	the	DET
faba-154	124	20	prolonged	prolong	VERB
faba-154	124	21	upward	upward	ADJ
faba-154	124	22	trend	trend	NOUN
faba-154	124	23	in	in	ADP
faba-154	124	24	the	the	DET
faba-154	124	25	stock	stock	NOUN
faba-154	124	26	markets	market	NOUN
faba-154	124	27	for	for	ADP
faba-154	124	28	the	the	DET
faba-154	124	29	last	last	ADJ
faba-154	124	30	decade	decade	NOUN
faba-154	124	31	.	.	PUNCT
faba-154	125	1	daneva	daneva	PROPN
faba-154	125	2	(	(	PUNCT
faba-154	125	3	2018	2018	NUM
faba-154	125	4	)	)	PUNCT
faba-154	125	5	and	and	CCONJ
faba-154	125	6	pandurska	pandurska	NOUN
faba-154	125	7	(	(	PUNCT
faba-154	125	8	2020	2020	NUM
faba-154	125	9	)	)	PUNCT
faba-154	125	10	show	show	VERB
faba-154	125	11	the	the	DET
faba-154	125	12	positive	positive	ADJ
faba-154	125	13	features	feature	NOUN
faba-154	125	14	of	of	ADP
faba-154	125	15	multi	multi	ADJ
faba-154	125	16	-	-	ADJ
faba-154	125	17	fund	fund	NOUN
faba-154	125	18	system	system	NOUN
faba-154	125	19	and	and	CCONJ
faba-154	125	20	its	its	PRON
faba-154	125	21	importance	importance	NOUN
faba-154	125	22	for	for	ADP
faba-154	125	23	the	the	DET
faba-154	125	24	insured	insure	VERB
faba-154	125	25	individuals	individual	NOUN
faba-154	125	26	in	in	ADP
faba-154	125	27	defined	define	VERB
faba-154	125	28	contribution	contribution	NOUN
faba-154	125	29	schemes	scheme	NOUN
faba-154	125	30	.	.	PUNCT
faba-154	126	1	the	the	DET
faba-154	126	2	second	second	ADJ
faba-154	126	3	basic	basic	ADJ
faba-154	126	4	reason	reason	NOUN
faba-154	126	5	for	for	ADP
faba-154	126	6	the	the	DET
faba-154	126	7	implemented	implement	VERB
faba-154	126	8	reverse	reverse	ADJ
faba-154	126	9	reforms	reform	NOUN
faba-154	126	10	stems	stem	VERB
faba-154	126	11	from	from	ADP
faba-154	126	12	the	the	DET
faba-154	126	13	first	first	ADJ
faba-154	126	14	one	one	NUM
faba-154	126	15	.	.	PUNCT
faba-154	127	1	when	when	SCONJ
faba-154	127	2	accrual	accrual	ADJ
faba-154	127	3	of	of	ADP
faba-154	127	4	resources	resource	NOUN
faba-154	127	5	into	into	ADP
faba-154	127	6	individual	individual	ADJ
faba-154	127	7	accounts	account	NOUN
faba-154	127	8	is	be	AUX
faba-154	127	9	not	not	PART
faba-154	127	10	considered	consider	VERB
faba-154	127	11	as	as	ADP
faba-154	127	12	significant	significant	ADJ
faba-154	127	13	,	,	PUNCT
faba-154	127	14	public	public	ADJ
faba-154	127	15	opinion	opinion	NOUN
faba-154	127	16	is	be	AUX
faba-154	127	17	not	not	PART
faba-154	127	18	so	so	ADV
faba-154	127	19	noisy	noisy	ADJ
faba-154	127	20	in	in	ADP
faba-154	127	21	opposing	oppose	VERB
faba-154	127	22	the	the	DET
faba-154	127	23	changes	change	NOUN
faba-154	127	24	that	that	PRON
faba-154	127	25	would	would	AUX
faba-154	127	26	destroy	destroy	VERB
faba-154	127	27	individual	individual	ADJ
faba-154	127	28	savings	saving	NOUN
faba-154	127	29	.	.	PUNCT
faba-154	128	1	the	the	DET
faba-154	128	2	reversals	reversal	NOUN
faba-154	128	3	in	in	ADP
faba-154	128	4	both	both	CCONJ
faba-154	128	5	hungary	hungary	PROPN
faba-154	128	6	and	and	CCONJ
faba-154	128	7	poland	poland	PROPN
faba-154	128	8	showed	show	VERB
faba-154	128	9	that	that	SCONJ
faba-154	128	10	general	general	ADJ
faba-154	128	11	public	public	NOUN
faba-154	128	12	is	be	AUX
faba-154	128	13	not	not	PART
faba-154	128	14	decisive	decisive	ADJ
faba-154	128	15	in	in	ADP
faba-154	128	16	protecting	protect	VERB
faba-154	128	17	its	its	PRON
faba-154	128	18	own	own	ADJ
faba-154	128	19	rights	right	NOUN
faba-154	128	20	and	and	CCONJ
faba-154	128	21	resources	resource	NOUN
faba-154	128	22	in	in	ADP
faba-154	128	23	the	the	DET
faba-154	128	24	second	second	ADJ
faba-154	128	25	pillar	pillar	NOUN
faba-154	128	26	pension	pension	NOUN
faba-154	128	27	funds	fund	NOUN
faba-154	128	28	.	.	PUNCT
faba-154	129	1	the	the	DET
faba-154	129	2	governments	government	NOUN
faba-154	129	3	were	be	AUX
faba-154	129	4	able	able	ADJ
faba-154	129	5	to	to	PART
faba-154	129	6	implement	implement	VERB
faba-154	129	7	legislative	legislative	ADJ
faba-154	129	8	changes	change	NOUN
faba-154	129	9	without	without	ADP
faba-154	129	10	meeting	meet	VERB
faba-154	129	11	any	any	DET
faba-154	129	12	significant	significant	ADJ
faba-154	129	13	resistance	resistance	NOUN
faba-154	129	14	.	.	PUNCT
faba-154	130	1	to	to	ADP
faba-154	130	2	a	a	DET
faba-154	130	3	certain	certain	ADJ
faba-154	130	4	extent	extent	NOUN
faba-154	130	5	this	this	PRON
faba-154	130	6	is	be	AUX
faba-154	130	7	also	also	ADV
faba-154	130	8	due	due	ADJ
faba-154	130	9	to	to	ADP
faba-154	130	10	the	the	DET
faba-154	130	11	lack	lack	NOUN
faba-154	130	12	of	of	ADP
faba-154	130	13	understanding	understanding	NOUN
faba-154	130	14	of	of	ADP
faba-154	130	15	what	what	PRON
faba-154	130	16	exactly	exactly	ADV
faba-154	130	17	is	be	AUX
faba-154	130	18	lost	lose	VERB
faba-154	130	19	and	and	CCONJ
faba-154	130	20	what	what	PRON
faba-154	130	21	function	function	VERB
faba-154	130	22	pension	pension	NOUN
faba-154	130	23	funds	fund	NOUN
faba-154	130	24	fulfill	fulfill	NOUN
faba-154	130	25	.	.	PUNCT
faba-154	131	1	all	all	DET
faba-154	131	2	measures	measure	NOUN
faba-154	131	3	taken	take	VERB
faba-154	131	4	in	in	ADP
faba-154	131	5	the	the	DET
faba-154	131	6	last	last	ADJ
faba-154	131	7	decade	decade	NOUN
faba-154	131	8	show	show	VERB
faba-154	131	9	declining	decline	VERB
faba-154	131	10	and	and	CCONJ
faba-154	131	11	volatile	volatile	ADJ
faba-154	131	12	support	support	NOUN
faba-154	131	13	by	by	ADP
faba-154	131	14	the	the	DET
faba-154	131	15	policymakers	policymaker	NOUN
faba-154	131	16	in	in	ADP
faba-154	131	17	cee	cee	PROPN
faba-154	131	18	region	region	NOUN
faba-154	131	19	for	for	ADP
faba-154	131	20	the	the	DET
faba-154	131	21	second	second	ADJ
faba-154	131	22	pillar	pillar	NOUN
faba-154	131	23	,	,	PUNCT
faba-154	131	24	despite	despite	SCONJ
faba-154	131	25	the	the	DET
faba-154	131	26	initial	initial	ADJ
faba-154	131	27	enthusiasm	enthusiasm	NOUN
faba-154	131	28	among	among	ADP
faba-154	131	29	governments	government	NOUN
faba-154	131	30	that	that	PRON
faba-154	131	31	initiated	initiate	VERB
faba-154	131	32	the	the	DET
faba-154	131	33	reforms	reform	NOUN
faba-154	131	34	.	.	PUNCT
faba-154	132	1	the	the	DET
faba-154	132	2	fundamental	fundamental	ADJ
faba-154	132	3	question	question	NOUN
faba-154	132	4	is	be	AUX
faba-154	132	5	whether	whether	SCONJ
faba-154	132	6	pension	pension	NOUN
faba-154	132	7	funds	fund	NOUN
faba-154	132	8	should	should	AUX
faba-154	132	9	continue	continue	VERB
faba-154	132	10	to	to	PART
faba-154	132	11	be	be	AUX
faba-154	132	12	considered	consider	VERB
faba-154	132	13	as	as	ADP
faba-154	132	14	important	important	ADJ
faba-154	132	15	elements	element	NOUN
faba-154	132	16	in	in	ADP
faba-154	132	17	raising	raise	VERB
faba-154	132	18	sustainability	sustainability	NOUN
faba-154	132	19	and	and	CCONJ
faba-154	132	20	adequacy	adequacy	NOUN
faba-154	132	21	of	of	ADP
faba-154	132	22	the	the	DET
faba-154	132	23	pension	pension	NOUN
faba-154	132	24	systems	system	NOUN
faba-154	132	25	in	in	ADP
faba-154	132	26	cee	cee	NOUN
faba-154	132	27	countries	country	NOUN
faba-154	132	28	.	.	PUNCT
faba-154	133	1	defined	define	VERB
faba-154	133	2	contribution	contribution	NOUN
faba-154	133	3	pension	pension	NOUN
faba-154	133	4	schemes	scheme	NOUN
faba-154	133	5	as	as	ADP
faba-154	133	6	a	a	DET
faba-154	133	7	factor	factor	NOUN
faba-154	133	8	for	for	ADP
faba-154	133	9	future	future	ADJ
faba-154	133	10	sustainability	sustainability	NOUN
faba-154	133	11	and	and	CCONJ
faba-154	133	12	adequacy	adequacy	NOUN
faba-154	133	13	of	of	ADP
faba-154	133	14	pension	pension	NOUN
faba-154	133	15	systems	system	NOUN
faba-154	133	16	in	in	ADP
faba-154	133	17	europe	europe	PROPN
faba-154	133	18	in	in	ADP
faba-154	133	19	a	a	DET
faba-154	133	20	number	number	NOUN
faba-154	133	21	of	of	ADP
faba-154	133	22	research	research	NOUN
faba-154	133	23	papers	paper	NOUN
faba-154	133	24	(	(	PUNCT
faba-154	133	25	european	european	PROPN
faba-154	133	26	commission	commission	PROPN
faba-154	133	27	2010	2010	NUM
faba-154	133	28	;	;	PUNCT
faba-154	133	29	2012	2012	NUM
faba-154	133	30	;	;	PUNCT
faba-154	133	31	2015	2015	NUM
faba-154	133	32	;	;	PUNCT
faba-154	133	33	2018	2018	NUM
faba-154	133	34	;	;	PUNCT
faba-154	133	35	2021b	2021b	NUM
faba-154	133	36	)	)	PUNCT
faba-154	133	37	published	publish	VERB
faba-154	133	38	in	in	ADP
faba-154	133	39	the	the	DET
faba-154	133	40	last	last	ADJ
faba-154	133	41	decade	decade	NOUN
faba-154	133	42	,	,	PUNCT
faba-154	133	43	european	european	ADJ
faba-154	133	44	commission	commission	PROPN
faba-154	133	45	continuously	continuously	ADV
faba-154	133	46	underline	underline	VERB
faba-154	133	47	the	the	DET
faba-154	133	48	problems	problem	NOUN
faba-154	133	49	stemming	stem	VERB
faba-154	133	50	from	from	ADP
faba-154	133	51	the	the	DET
faba-154	133	52	aging	aging	NOUN
faba-154	133	53	of	of	ADP
faba-154	133	54	the	the	DET
faba-154	133	55	jeko	jeko	NOUN
faba-154	133	56	milev	milev	NOUN
faba-154	133	57	/	/	SYM
faba-154	133	58	finance	finance	NOUN
faba-154	133	59	,	,	PUNCT
faba-154	133	60	accounting	accounting	NOUN
faba-154	133	61	and	and	CCONJ
faba-154	133	62	business	business	NOUN
faba-154	133	63	analysis	analysis	NOUN
faba-154	133	64	,	,	PUNCT
faba-154	133	65	volume	volume	NOUN
faba-154	133	66	5	5	NUM
faba-154	133	67	,	,	PUNCT
faba-154	133	68	issue	issue	NOUN
faba-154	133	69	1	1	NUM
faba-154	133	70	,	,	PUNCT
faba-154	133	71	2023	2023	NUM
faba-154	133	72	75	75	NUM
faba-154	133	73	population	population	NOUN
faba-154	133	74	and	and	CCONJ
faba-154	133	75	the	the	DET
faba-154	133	76	deteriorating	deteriorate	VERB
faba-154	133	77	demographic	demographic	ADJ
faba-154	133	78	structures	structure	NOUN
faba-154	133	79	for	for	ADP
faba-154	133	80	the	the	DET
faba-154	133	81	future	future	ADJ
faba-154	133	82	sustainability	sustainability	NOUN
faba-154	133	83	of	of	ADP
faba-154	133	84	the	the	DET
faba-154	133	85	pension	pension	NOUN
faba-154	133	86	systems	system	NOUN
faba-154	133	87	around	around	ADP
faba-154	133	88	europe	europe	PROPN
faba-154	133	89	.	.	PUNCT
faba-154	134	1	these	these	DET
faba-154	134	2	unfavorable	unfavorable	ADJ
faba-154	134	3	trends	trend	NOUN
faba-154	134	4	are	be	AUX
faba-154	134	5	expected	expect	VERB
faba-154	134	6	to	to	PART
faba-154	134	7	be	be	AUX
faba-154	134	8	managed	manage	VERB
faba-154	134	9	by	by	ADP
faba-154	134	10	pension	pension	NOUN
faba-154	134	11	reforms	reform	NOUN
faba-154	134	12	which	which	PRON
faba-154	134	13	are	be	AUX
faba-154	134	14	seen	see	VERB
faba-154	134	15	mostly	mostly	ADV
faba-154	134	16	in	in	ADP
faba-154	134	17	the	the	DET
faba-154	134	18	following	following	ADJ
faba-154	134	19	directions	direction	NOUN
faba-154	134	20	:	:	PUNCT
faba-154	134	21	raising	raise	VERB
faba-154	134	22	employment	employment	NOUN
faba-154	134	23	rates	rate	NOUN
faba-154	134	24	among	among	ADP
faba-154	134	25	elderly	elderly	ADJ
faba-154	134	26	,	,	PUNCT
faba-154	134	27	increasing	increase	VERB
faba-154	134	28	pension	pension	NOUN
faba-154	134	29	age	age	NOUN
faba-154	134	30	,	,	PUNCT
faba-154	134	31	and	and	CCONJ
faba-154	134	32	enhancing	enhance	VERB
faba-154	134	33	the	the	DET
faba-154	134	34	opportunities	opportunity	NOUN
faba-154	134	35	to	to	PART
faba-154	134	36	build	build	VERB
faba-154	134	37	up	up	ADP
faba-154	134	38	safe	safe	ADJ
faba-154	134	39	complementary	complementary	ADJ
faba-154	134	40	retirement	retirement	NOUN
faba-154	134	41	savings	saving	NOUN
faba-154	134	42	.	.	PUNCT
faba-154	135	1	the	the	DET
faba-154	135	2	reforms	reform	NOUN
faba-154	135	3	that	that	PRON
faba-154	135	4	member	member	NOUN
faba-154	135	5	states	state	NOUN
faba-154	135	6	are	be	AUX
faba-154	135	7	expected	expect	VERB
faba-154	135	8	to	to	PART
faba-154	135	9	implement	implement	VERB
faba-154	135	10	concern	concern	NOUN
faba-154	135	11	both	both	CCONJ
faba-154	135	12	the	the	DET
faba-154	135	13	pay	pay	VERB
faba-154	135	14	-	-	PUNCT
faba-154	135	15	as	as	ADP
faba-154	135	16	-	-	PUNCT
faba-154	135	17	you	you	PRON
faba-154	135	18	-	-	PUNCT
faba-154	135	19	go	go	VERB
faba-154	135	20	pillar	pillar	NOUN
faba-154	135	21	and	and	CCONJ
faba-154	135	22	the	the	DET
faba-154	135	23	fully	fully	ADV
faba-154	135	24	funded	fund	VERB
faba-154	135	25	one	one	NUM
faba-154	135	26	since	since	SCONJ
faba-154	135	27	the	the	DET
faba-154	135	28	observed	observe	VERB
faba-154	135	29	trend	trend	NOUN
faba-154	135	30	of	of	ADP
faba-154	135	31	population	population	NOUN
faba-154	135	32	aging	aging	NOUN
faba-154	135	33	is	be	AUX
faba-154	135	34	supposed	suppose	VERB
faba-154	135	35	to	to	PART
faba-154	135	36	affect	affect	VERB
faba-154	135	37	adversely	adversely	ADV
faba-154	135	38	all	all	PRON
faba-154	135	39	of	of	ADP
faba-154	135	40	the	the	DET
faba-154	135	41	pension	pension	NOUN
faba-154	135	42	columns	column	NOUN
faba-154	135	43	.	.	PUNCT
faba-154	136	1	prolonged	prolonged	ADJ
faba-154	136	2	saving	saving	NOUN
faba-154	136	3	and	and	CCONJ
faba-154	136	4	gradual	gradual	ADJ
faba-154	136	5	buildup	buildup	NOUN
faba-154	136	6	of	of	ADP
faba-154	136	7	pool	pool	NOUN
faba-154	136	8	of	of	ADP
faba-154	136	9	assets	asset	NOUN
faba-154	136	10	is	be	AUX
faba-154	136	11	seen	see	VERB
faba-154	136	12	as	as	ADP
faba-154	136	13	irrevocable	irrevocable	ADJ
faba-154	136	14	trend	trend	NOUN
faba-154	136	15	that	that	PRON
faba-154	136	16	can	can	AUX
faba-154	136	17	effectively	effectively	ADV
faba-154	136	18	support	support	VERB
faba-154	136	19	elderly	elderly	ADJ
faba-154	136	20	in	in	ADP
faba-154	136	21	receiving	receive	VERB
faba-154	136	22	adequate	adequate	ADJ
faba-154	136	23	pension	pension	NOUN
faba-154	136	24	benefits	benefit	NOUN
faba-154	136	25	but	but	CCONJ
faba-154	136	26	also	also	ADV
faba-154	136	27	governments	government	NOUN
faba-154	136	28	in	in	ADP
faba-154	136	29	securing	secure	VERB
faba-154	136	30	sustainability	sustainability	NOUN
faba-154	136	31	in	in	ADP
faba-154	136	32	public	public	ADJ
faba-154	136	33	finances	finance	NOUN
faba-154	136	34	.	.	PUNCT
faba-154	137	1	the	the	DET
faba-154	137	2	2022	2022	NUM
faba-154	137	3	global	global	ADJ
faba-154	137	4	pension	pension	NOUN
faba-154	137	5	index	index	NOUN
faba-154	137	6	,	,	PUNCT
faba-154	137	7	published	publish	VERB
faba-154	137	8	by	by	ADP
faba-154	137	9	mercer	mercer	PROPN
faba-154	137	10	and	and	CCONJ
faba-154	137	11	cfa	cfa	PROPN
faba-154	137	12	institute	institute	PROPN
faba-154	137	13	(	(	PUNCT
faba-154	137	14	2022)8	2022)8	PROPN
faba-154	137	15	confirmed	confirm	VERB
faba-154	137	16	once	once	ADV
faba-154	137	17	again	again	ADV
faba-154	137	18	that	that	SCONJ
faba-154	137	19	those	those	DET
faba-154	137	20	countries	country	NOUN
faba-154	137	21	which	which	PRON
faba-154	137	22	were	be	AUX
faba-154	137	23	able	able	ADJ
faba-154	137	24	to	to	PART
faba-154	137	25	build	build	VERB
faba-154	137	26	robust	robust	ADJ
faba-154	137	27	funded	fund	VERB
faba-154	137	28	component	component	NOUN
faba-154	137	29	into	into	ADP
faba-154	137	30	their	their	PRON
faba-154	137	31	pension	pension	NOUN
faba-154	137	32	systems	system	NOUN
faba-154	137	33	take	take	VERB
faba-154	137	34	top	top	ADJ
faba-154	137	35	ten	ten	NUM
faba-154	137	36	of	of	ADP
faba-154	137	37	the	the	DET
faba-154	137	38	places	place	NOUN
faba-154	137	39	in	in	ADP
faba-154	137	40	the	the	DET
faba-154	137	41	“	"	PUNCT
faba-154	137	42	quality	quality	NOUN
faba-154	137	43	of	of	ADP
faba-154	137	44	pension	pension	NOUN
faba-154	137	45	systems	system	NOUN
faba-154	137	46	”	"	PUNCT
faba-154	137	47	ranking	rank	VERB
faba-154	137	48	:	:	PUNCT
faba-154	137	49	table	table	NOUN
faba-154	137	50	4	4	NUM
faba-154	137	51	.	.	NOUN
faba-154	137	52	2022	2022	NUM
faba-154	137	53	mercer	mercer	PROPN
faba-154	137	54	and	and	CCONJ
faba-154	137	55	cfa	cfa	PROPN
faba-154	137	56	global	global	ADJ
faba-154	137	57	pension	pension	NOUN
faba-154	137	58	index	index	NOUN
faba-154	137	59	about	about	ADP
faba-154	137	60	quality	quality	NOUN
faba-154	137	61	of	of	ADP
faba-154	137	62	pension	pension	NOUN
faba-154	137	63	systems	system	NOUN
faba-154	137	64	n	n	CCONJ
faba-154	137	65	:	:	PUNCT
faba-154	137	66	system	system	NOUN
faba-154	137	67	overall	overall	ADJ
faba-154	137	68	grade	grade	NOUN
faba-154	137	69	overall	overall	ADJ
faba-154	137	70	score	score	NOUN
faba-154	137	71	adequacy	adequacy	NOUN
faba-154	137	72	sustainability	sustainability	NOUN
faba-154	137	73	integrity	integrity	NOUN
faba-154	137	74	1	1	NUM
faba-154	137	75	iceland	iceland	PROPN
faba-154	137	76	a	a	DET
faba-154	137	77	84.7	84.7	NUM
faba-154	137	78	85.8	85.8	NUM
faba-154	137	79	83.8	83.8	NUM
faba-154	137	80	84.4	84.4	NUM
faba-154	137	81	2	2	NUM
faba-154	137	82	netherlands	netherland	NOUN
faba-154	137	83	a	a	DET
faba-154	137	84	84.6	84.6	NUM
faba-154	137	85	84.9	84.9	NUM
faba-154	137	86	81.9	81.9	NUM
faba-154	137	87	87.8	87.8	NUM
faba-154	137	88	3	3	NUM
faba-154	137	89	denmark	denmark	NOUN
faba-154	137	90	a	a	DET
faba-154	137	91	82.0	82.0	NUM
faba-154	137	92	81.4	81.4	NUM
faba-154	137	93	82.5	82.5	NUM
faba-154	137	94	82.1	82.1	NUM
faba-154	137	95	4	4	NUM
faba-154	137	96	israel	israel	PROPN
faba-154	137	97	b+	b+	VERB
faba-154	137	98	79.8	79.8	NUM
faba-154	137	99	75.7	75.7	NUM
faba-154	137	100	81.9	81.9	NUM
faba-154	137	101	83.2	83.2	NUM
faba-154	137	102	5	5	NUM
faba-154	137	103	finland	finland	NOUN
faba-154	137	104	b+	b+	VERB
faba-154	137	105	77.2	77.2	NUM
faba-154	137	106	77.5	77.5	NUM
faba-154	137	107	65.3	65.3	NUM
faba-154	137	108	93.3	93.3	NUM
faba-154	137	109	6	6	NUM
faba-154	137	110	australia	australia	NOUN
faba-154	137	111	b+	b+	ADP
faba-154	137	112	76.8	76.8	NUM
faba-154	137	113	70.2	70.2	NUM
faba-154	137	114	77.2	77.2	NUM
faba-154	137	115	86.8	86.8	NUM
faba-154	137	116	7	7	NUM
faba-154	137	117	norway	norway	NOUN
faba-154	137	118	b+	b+	VERB
faba-154	137	119	75.3	75.3	NUM
faba-154	137	120	79.0	79.0	NUM
faba-154	137	121	60.4	60.4	NUM
faba-154	137	122	90.3	90.3	NUM
faba-154	137	123	8	8	NUM
faba-154	137	124	sweden	sweden	NOUN
faba-154	137	125	b	b	PROPN
faba-154	137	126	74.6	74.6	NUM
faba-154	137	127	70.6	70.6	NUM
faba-154	137	128	75.7	75.7	NUM
faba-154	137	129	79.5	79.5	NUM
faba-154	137	130	9	9	NUM
faba-154	137	131	singapore	singapore	PROPN
faba-154	137	132	b	b	PROPN
faba-154	137	133	74.1	74.1	NUM
faba-154	137	134	77.3	77.3	NUM
faba-154	137	135	65.4	65.4	NUM
faba-154	137	136	81.0	81.0	NUM
faba-154	137	137	10	10	NUM
faba-154	137	138	uk	uk	PROPN
faba-154	137	139	b	b	PROPN
faba-154	137	140	73.7	73.7	NUM
faba-154	137	141	76.5	76.5	NUM
faba-154	137	142	63.9	63.9	NUM
faba-154	137	143	83.0	83.0	NUM
faba-154	137	144	source	source	NOUN
faba-154	137	145	:	:	PUNCT
faba-154	137	146	mercer	mercer	PROPN
faba-154	137	147	cfa	cfa	PROPN
faba-154	137	148	institute	institute	PROPN
faba-154	137	149	global	global	PROPN
faba-154	137	150	pension	pension	PROPN
faba-154	137	151	index	index	NOUN
faba-154	137	152	2022	2022	NUM
faba-154	137	153	highlights	highlight	NOUN
faba-154	137	154	key	key	ADJ
faba-154	137	155	challenges	challenge	NOUN
faba-154	137	156	of	of	ADP
faba-154	137	157	defined	define	VERB
faba-154	137	158	contribution	contribution	NOUN
faba-154	137	159	plans	plan	NOUN
faba-154	137	160	for	for	ADP
faba-154	137	161	retirees	retiree	NOUN
faba-154	137	162	.	.	PUNCT
faba-154	138	1	online	online	ADJ
faba-154	138	2	:	:	PUNCT
faba-154	139	1	[	[	X
faba-154	139	2	https://www.cfainstitute.org/en/about/press-releases/2022/mercer-cfainstitute-global-pension-index-2022	https://www.cfainstitute.org/en/about/press-releases/2022/mercer-cfainstitute-global-pension-index-2022	X
faba-154	139	3	]	]	PUNCT
faba-154	139	4	the	the	DET
faba-154	139	5	above	above	ADJ
faba-154	139	6	table	table	NOUN
faba-154	139	7	shows	show	VERB
faba-154	139	8	that	that	SCONJ
faba-154	139	9	7	7	NUM
faba-154	139	10	of	of	ADP
faba-154	139	11	the	the	DET
faba-154	139	12	first	first	ADJ
faba-154	139	13	10	10	NUM
faba-154	139	14	most	most	ADV
faba-154	139	15	robust	robust	ADJ
faba-154	139	16	pension	pension	NOUN
faba-154	139	17	systems	system	NOUN
faba-154	139	18	are	be	AUX
faba-154	139	19	in	in	ADP
faba-154	139	20	europe	europe	PROPN
faba-154	139	21	with	with	ADP
faba-154	139	22	no	no	DET
faba-154	139	23	country	country	NOUN
faba-154	139	24	from	from	ADP
faba-154	139	25	cee	cee	PROPN
faba-154	139	26	region	region	NOUN
faba-154	139	27	.	.	PUNCT
faba-154	140	1	the	the	DET
faba-154	140	2	report	report	NOUN
faba-154	140	3	outlines	outline	VERB
faba-154	140	4	an	an	DET
faba-154	140	5	important	important	ADJ
faba-154	140	6	trend	trend	NOUN
faba-154	140	7	in	in	ADP
faba-154	140	8	the	the	DET
faba-154	140	9	last	last	ADJ
faba-154	140	10	years	year	NOUN
faba-154	140	11	–	–	PUNCT
faba-154	140	12	the	the	DET
faba-154	140	13	gradual	gradual	ADJ
faba-154	140	14	turning	turning	NOUN
faba-154	140	15	of	of	ADP
faba-154	140	16	defined	define	VERB
faba-154	140	17	-	-	PUNCT
faba-154	140	18	benefit	benefit	NOUN
faba-154	140	19	pension	pension	NOUN
faba-154	140	20	plans	plan	NOUN
faba-154	140	21	into	into	ADP
faba-154	140	22	defined	define	VERB
faba-154	140	23	contribution	contribution	NOUN
faba-154	140	24	pension	pension	NOUN
faba-154	140	25	schemes	scheme	NOUN
faba-154	140	26	.	.	PUNCT
faba-154	141	1	this	this	PRON
faba-154	141	2	is	be	AUX
faba-154	141	3	a	a	DET
faba-154	141	4	sustainable	sustainable	ADJ
faba-154	141	5	trend	trend	NOUN
faba-154	141	6	and	and	CCONJ
faba-154	141	7	expectations	expectation	NOUN
faba-154	141	8	are	be	AUX
faba-154	141	9	that	that	PRON
faba-154	141	10	more	more	ADJ
faba-154	141	11	and	and	CCONJ
faba-154	141	12	more	more	ADJ
faba-154	141	13	people	people	NOUN
faba-154	141	14	will	will	AUX
faba-154	141	15	depend	depend	VERB
faba-154	141	16	on	on	ADP
faba-154	141	17	this	this	DET
faba-154	141	18	type	type	NOUN
faba-154	141	19	of	of	ADP
faba-154	141	20	pension	pension	NOUN
faba-154	141	21	schemes	scheme	NOUN
faba-154	141	22	in	in	ADP
faba-154	141	23	the	the	DET
faba-154	141	24	next	next	ADJ
faba-154	141	25	decades	decade	NOUN
faba-154	141	26	.	.	PUNCT
faba-154	142	1	defined	define	VERB
faba-154	142	2	contribution	contribution	NOUN
faba-154	142	3	pensions	pension	NOUN
faba-154	142	4	are	be	AUX
faba-154	142	5	expected	expect	VERB
faba-154	142	6	to	to	PART
faba-154	142	7	play	play	VERB
faba-154	142	8	a	a	DET
faba-154	142	9	crucial	crucial	ADJ
faba-154	142	10	role	role	NOUN
faba-154	142	11	in	in	ADP
faba-154	142	12	mitigating	mitigate	VERB
faba-154	142	13	the	the	DET
faba-154	142	14	adverse	adverse	ADJ
faba-154	142	15	effects	effect	NOUN
faba-154	142	16	on	on	ADP
faba-154	142	17	the	the	DET
faba-154	142	18	pay	pay	NOUN
faba-154	142	19	-	-	PUNCT
faba-154	142	20	as	as	ADP
faba-154	142	21	-	-	PUNCT
faba-154	142	22	you	you	PRON
faba-154	142	23	-	-	PUNCT
faba-154	142	24	go	go	NOUN
faba-154	142	25	systems	system	NOUN
faba-154	142	26	caused	cause	VERB
faba-154	142	27	by	by	ADP
faba-154	142	28	the	the	DET
faba-154	142	29	negative	negative	ADJ
faba-154	142	30	demographic	demographic	ADJ
faba-154	142	31	processes	process	NOUN
faba-154	142	32	.	.	PUNCT
faba-154	143	1	their	their	PRON
faba-154	143	2	future	future	ADJ
faba-154	143	3	development	development	NOUN
faba-154	143	4	is	be	AUX
faba-154	143	5	considered	consider	VERB
faba-154	143	6	as	as	ADP
faba-154	143	7	a	a	DET
faba-154	143	8	priority	priority	NOUN
faba-154	143	9	in	in	ADP
faba-154	143	10	many	many	ADJ
faba-154	143	11	of	of	ADP
faba-154	143	12	the	the	DET
faba-154	143	13	oecd	oecd	PROPN
faba-154	143	14	countries	country	NOUN
faba-154	143	15	.	.	PUNCT
faba-154	144	1	together	together	ADV
faba-154	144	2	with	with	ADP
faba-154	144	3	the	the	DET
faba-154	144	4	gradual	gradual	ADJ
faba-154	144	5	increase	increase	NOUN
faba-154	144	6	of	of	ADP
faba-154	144	7	pension	pension	NOUN
faba-154	144	8	age	age	NOUN
faba-154	144	9	,	,	PUNCT
faba-154	144	10	the	the	DET
faba-154	144	11	strengthening	strengthening	NOUN
faba-154	144	12	of	of	ADP
faba-154	144	13	the	the	DET
faba-154	144	14	fully	fully	ADV
faba-154	144	15	funded	fund	VERB
faba-154	144	16	components	component	NOUN
faba-154	144	17	in	in	ADP
faba-154	144	18	the	the	DET
faba-154	144	19	pension	pension	NOUN
faba-154	144	20	systems	system	NOUN
faba-154	144	21	is	be	AUX
faba-154	144	22	the	the	DET
faba-154	144	23	most	most	ADV
faba-154	144	24	obvious	obvious	ADJ
faba-154	144	25	trend	trend	NOUN
faba-154	144	26	in	in	ADP
faba-154	144	27	the	the	DET
faba-154	144	28	last	last	ADJ
faba-154	144	29	decade	decade	NOUN
faba-154	144	30	.	.	PUNCT
faba-154	145	1	incentivizing	incentivize	VERB
faba-154	145	2	additional	additional	ADJ
faba-154	145	3	saving	saving	NOUN
faba-154	145	4	,	,	PUNCT
faba-154	145	5	governments	government	NOUN
faba-154	145	6	are	be	AUX
faba-154	145	7	trying	try	VERB
faba-154	145	8	to	to	PART
faba-154	145	9	raise	raise	VERB
faba-154	145	10	both	both	DET
faba-154	145	11	sustainability	sustainability	NOUN
faba-154	145	12	and	and	CCONJ
faba-154	145	13	adequacy	adequacy	NOUN
faba-154	145	14	of	of	ADP
faba-154	145	15	the	the	DET
faba-154	145	16	pension	pension	NOUN
faba-154	145	17	systems	system	NOUN
faba-154	145	18	in	in	ADP
faba-154	145	19	the	the	DET
faba-154	145	20	long	long	ADJ
faba-154	145	21	term	term	NOUN
faba-154	145	22	.	.	PUNCT
faba-154	146	1	the	the	DET
faba-154	146	2	main	main	ADJ
faba-154	146	3	question	question	NOUN
faba-154	146	4	is	be	AUX
faba-154	146	5	not	not	PART
faba-154	146	6	whether	whether	SCONJ
faba-154	146	7	defined	define	VERB
faba-154	146	8	contribution	contribution	NOUN
faba-154	146	9	pension	pension	NOUN
faba-154	146	10	schemes	scheme	NOUN
faba-154	146	11	should	should	AUX
faba-154	146	12	exist	exist	VERB
faba-154	146	13	but	but	CCONJ
faba-154	146	14	how	how	SCONJ
faba-154	146	15	to	to	PART
faba-154	146	16	be	be	AUX
faba-154	146	17	developed	develop	VERB
faba-154	146	18	further	far	ADV
faba-154	146	19	so	so	SCONJ
faba-154	146	20	that	that	PRON
faba-154	146	21	to	to	PART
faba-154	146	22	respond	respond	VERB
faba-154	146	23	to	to	ADP
faba-154	146	24	the	the	DET
faba-154	146	25	future	future	ADJ
faba-154	146	26	challenges	challenge	NOUN
faba-154	146	27	brought	bring	VERB
faba-154	146	28	by	by	ADP
faba-154	146	29	the	the	DET
faba-154	146	30	aging	aging	NOUN
faba-154	146	31	of	of	ADP
faba-154	146	32	the	the	DET
faba-154	146	33	population	population	NOUN
faba-154	146	34	.	.	PUNCT
faba-154	147	1	it	it	PRON
faba-154	147	2	’s	’	VERB
faba-154	147	3	worth	worth	ADJ
faba-154	147	4	noting	note	VERB
faba-154	147	5	once	once	ADV
faba-154	147	6	again	again	ADV
faba-154	147	7	that	that	SCONJ
faba-154	147	8	within	within	ADP
faba-154	147	9	defined	define	VERB
faba-154	147	10	contribution	contribution	NOUN
faba-154	147	11	pension	pension	NOUN
faba-154	147	12	schemes	scheme	NOUN
faba-154	147	13	investment	investment	NOUN
faba-154	147	14	risk	risk	NOUN
faba-154	147	15	is	be	AUX
faba-154	147	16	transferred	transfer	VERB
faba-154	147	17	towards	towards	ADP
faba-154	147	18	the	the	DET
faba-154	147	19	insured	insured	ADJ
faba-154	147	20	individual	individual	NOUN
faba-154	147	21	.	.	PUNCT
faba-154	148	1	the	the	DET
faba-154	148	2	amount	amount	NOUN
faba-154	148	3	accumulated	accumulate	VERB
faba-154	148	4	at	at	ADP
faba-154	148	5	the	the	DET
faba-154	148	6	date	date	NOUN
faba-154	148	7	of	of	ADP
faba-154	148	8	retirement	retirement	NOUN
faba-154	148	9	is	be	AUX
faba-154	148	10	crucial	crucial	ADJ
faba-154	148	11	in	in	ADP
faba-154	148	12	determining	determine	VERB
faba-154	148	13	the	the	DET
faba-154	148	14	future	future	ADJ
faba-154	148	15	pension	pension	NOUN
faba-154	148	16	amount	amount	NOUN
faba-154	148	17	.	.	PUNCT
faba-154	149	1	from	from	ADP
faba-154	149	2	this	this	DET
faba-154	149	3	point	point	NOUN
faba-154	149	4	of	of	ADP
faba-154	149	5	view	view	NOUN
faba-154	149	6	,	,	PUNCT
faba-154	149	7	three	three	NUM
faba-154	149	8	elements	element	NOUN
faba-154	149	9	are	be	AUX
faba-154	149	10	of	of	ADP
faba-154	149	11	utmost	utmost	ADJ
faba-154	149	12	importance	importance	NOUN
faba-154	149	13	in	in	ADP
faba-154	149	14	securing	secure	VERB
faba-154	149	15	long	long	ADJ
faba-154	149	16	term	term	NOUN
faba-154	149	17	stability	stability	NOUN
faba-154	149	18	of	of	ADP
faba-154	149	19	the	the	DET
faba-154	149	20	scheme	scheme	NOUN
faba-154	149	21	:	:	PUNCT
faba-154	149	22	regular	regular	ADJ
faba-154	149	23	payment	payment	NOUN
faba-154	149	24	of	of	ADP
faba-154	149	25	contributions	contribution	NOUN
faba-154	149	26	,	,	PUNCT
faba-154	149	27	yield	yield	NOUN
faba-154	149	28	realized	realize	VERB
faba-154	149	29	by	by	ADP
faba-154	149	30	the	the	DET
faba-154	149	31	pension	pension	NOUN
faba-154	149	32	companies	company	NOUN
faba-154	149	33	and	and	CCONJ
faba-154	149	34	management	management	NOUN
faba-154	149	35	fees	fee	NOUN
faba-154	149	36	.	.	PUNCT
faba-154	150	1	the	the	DET
faba-154	150	2	experience	experience	NOUN
faba-154	150	3	of	of	ADP
faba-154	150	4	the	the	DET
faba-154	150	5	cee	cee	NOUN
faba-154	150	6	countries	country	NOUN
faba-154	150	7	in	in	ADP
faba-154	150	8	the	the	DET
faba-154	150	9	last	last	ADJ
faba-154	150	10	two	two	NUM
faba-154	150	11	decades	decade	NOUN
faba-154	150	12	in	in	ADP
faba-154	150	13	managing	manage	VERB
faba-154	150	14	pension	pension	NOUN
faba-154	150	15	schemes	scheme	NOUN
faba-154	150	16	based	base	VERB
faba-154	150	17	on	on	ADP
faba-154	150	18	a	a	DET
faba-154	150	19	fully	fully	ADV
faba-154	150	20	funded	fund	VERB
faba-154	150	21	principle	principle	NOUN
faba-154	150	22	shows	show	VERB
faba-154	150	23	that	that	SCONJ
faba-154	150	24	proper	proper	ADJ
faba-154	150	25	regulation	regulation	NOUN
faba-154	150	26	is	be	AUX
faba-154	150	27	important	important	ADJ
faba-154	150	28	for	for	ADP
faba-154	150	29	each	each	PRON
faba-154	150	30	of	of	ADP
faba-154	150	31	the	the	DET
faba-154	150	32	three	three	NUM
faba-154	150	33	components	component	NOUN
faba-154	150	34	.	.	PUNCT
faba-154	151	1	the	the	DET
faba-154	151	2	regular	regular	ADJ
faba-154	151	3	payment	payment	NOUN
faba-154	151	4	of	of	ADP
faba-154	151	5	contributions	contribution	NOUN
faba-154	151	6	is	be	AUX
faba-154	151	7	maybe	maybe	ADV
faba-154	151	8	the	the	DET
faba-154	151	9	only	only	ADJ
faba-154	151	10	element	element	NOUN
faba-154	151	11	that	that	PRON
faba-154	151	12	does	do	AUX
faba-154	151	13	n’t	not	PART
faba-154	151	14	depend	depend	VERB
faba-154	151	15	so	so	ADV
faba-154	151	16	strongly	strongly	ADV
faba-154	151	17	on	on	ADP
faba-154	151	18	the	the	DET
faba-154	151	19	efforts	effort	NOUN
faba-154	151	20	of	of	ADP
faba-154	151	21	the	the	DET
faba-154	151	22	regulator	regulator	NOUN
faba-154	151	23	since	since	SCONJ
faba-154	151	24	the	the	DET
faba-154	151	25	practice	practice	NOUN
faba-154	151	26	shows	show	VERB
faba-154	151	27	that	that	SCONJ
faba-154	151	28	there	there	PRON
faba-154	151	29	are	be	VERB
faba-154	151	30	variety	variety	NOUN
faba-154	151	31	of	of	ADP
faba-154	151	32	reasons	reason	NOUN
faba-154	151	33	for	for	ADP
faba-154	151	34	not	not	PART
faba-154	151	35	paying	pay	VERB
faba-154	151	36	contributions	contribution	NOUN
faba-154	151	37	for	for	ADP
faba-154	151	38	a	a	DET
faba-154	151	39	certain	certain	ADJ
faba-154	151	40	period	period	NOUN
faba-154	151	41	.	.	PUNCT
faba-154	152	1	individuals	individual	NOUN
faba-154	152	2	with	with	ADP
faba-154	152	3	irregular	irregular	ADJ
faba-154	152	4	payments	payment	NOUN
faba-154	152	5	are	be	AUX
faba-154	152	6	expected	expect	VERB
faba-154	152	7	to	to	PART
faba-154	152	8	rely	rely	VERB
faba-154	152	9	primarily	primarily	ADV
faba-154	152	10	on	on	ADP
faba-154	152	11	the	the	DET
faba-154	152	12	pay	pay	NOUN
faba-154	152	13	-	-	PUNCT
faba-154	152	14	as	as	ADP
faba-154	152	15	-	-	PUNCT
faba-154	152	16	you	you	PRON
faba-154	152	17	-	-	PUNCT
faba-154	152	18	go	go	NOUN
faba-154	152	19	system	system	NOUN
faba-154	152	20	as	as	SCONJ
faba-154	152	21	fully	fully	ADV
faba-154	152	22	funded	fund	VERB
faba-154	152	23	pension	pension	NOUN
faba-154	152	24	funds	fund	NOUN
faba-154	152	25	are	be	AUX
faba-154	152	26	not	not	PART
faba-154	152	27	supposed	suppose	VERB
faba-154	152	28	to	to	PART
faba-154	152	29	transfer	transfer	VERB
faba-154	152	30	resources	resource	NOUN
faba-154	152	31	among	among	ADP
faba-154	152	32	individual	individual	ADJ
faba-154	152	33	accounts	account	NOUN
faba-154	152	34	.	.	PUNCT
faba-154	153	1	nonetheless	nonetheless	ADV
faba-154	153	2	,	,	PUNCT
faba-154	153	3	the	the	DET
faba-154	153	4	efforts	effort	NOUN
faba-154	153	5	to	to	PART
faba-154	153	6	limit	limit	VERB
faba-154	153	7	the	the	DET
faba-154	153	8	extent	extent	NOUN
faba-154	153	9	of	of	ADP
faba-154	153	10	this	this	DET
faba-154	153	11	group	group	NOUN
faba-154	153	12	should	should	AUX
faba-154	153	13	be	be	AUX
faba-154	153	14	continuous	continuous	ADJ
faba-154	153	15	,	,	PUNCT
faba-154	153	16	including	include	VERB
faba-154	153	17	variety	variety	NOUN
faba-154	153	18	of	of	ADP
faba-154	153	19	incentives	incentive	NOUN
faba-154	153	20	so	so	SCONJ
faba-154	153	21	that	that	PRON
faba-154	153	22	to	to	PART
faba-154	153	23	constrain	constrain	VERB
faba-154	153	24	at	at	ADP
faba-154	153	25	least	least	ADJ
faba-154	153	26	the	the	DET
faba-154	153	27	number	number	NOUN
faba-154	153	28	of	of	ADP
faba-154	153	29	those	those	PRON
faba-154	153	30	who	who	PRON
faba-154	153	31	voluntarily	voluntarily	ADV
faba-154	153	32	are	be	AUX
faba-154	153	33	trying	try	VERB
faba-154	153	34	to	to	PART
faba-154	153	35	escape	escape	VERB
faba-154	153	36	the	the	DET
faba-154	153	37	payments	payment	NOUN
faba-154	153	38	into	into	ADP
faba-154	153	39	the	the	DET
faba-154	153	40	pension	pension	NOUN
faba-154	153	41	fund	fund	NOUN
faba-154	153	42	.	.	PUNCT
faba-154	154	1	the	the	DET
faba-154	154	2	investment	investment	NOUN
faba-154	154	3	rules	rule	NOUN
faba-154	154	4	are	be	AUX
faba-154	154	5	the	the	DET
faba-154	154	6	second	second	ADJ
faba-154	154	7	factor	factor	NOUN
faba-154	154	8	of	of	ADP
faba-154	154	9	great	great	ADJ
faba-154	154	10	significance	significance	NOUN
faba-154	154	11	for	for	ADP
faba-154	154	12	improving	improve	VERB
faba-154	154	13	the	the	DET
faba-154	154	14	accumulation	accumulation	NOUN
faba-154	154	15	of	of	ADP
faba-154	154	16	resources	resource	NOUN
faba-154	154	17	into	into	ADP
faba-154	154	18	individuals	individual	NOUN
faba-154	154	19	’	'	PUNCT
faba-154	154	20	account	account	NOUN
faba-154	154	21	.	.	PUNCT
faba-154	155	1	the	the	DET
faba-154	155	2	risks	risk	NOUN
faba-154	155	3	to	to	PART
faba-154	155	4	which	which	PRON
faba-154	155	5	individuals	individual	NOUN
faba-154	155	6	are	be	AUX
faba-154	155	7	exposed	expose	VERB
faba-154	155	8	at	at	ADP
faba-154	155	9	different	different	ADJ
faba-154	155	10	stages	stage	NOUN
faba-154	155	11	of	of	ADP
faba-154	155	12	their	their	PRON
faba-154	155	13	lives	life	NOUN
faba-154	155	14	are	be	AUX
faba-154	155	15	different	different	ADJ
faba-154	155	16	(	(	PUNCT
faba-154	155	17	milev	milev	NOUN
faba-154	155	18	2014	2014	NUM
faba-154	155	19	)	)	PUNCT
faba-154	155	20	.	.	PUNCT
faba-154	156	1	those	those	PRON
faba-154	156	2	who	who	PRON
faba-154	156	3	have	have	AUX
faba-154	156	4	just	just	ADV
faba-154	156	5	entered	enter	VERB
faba-154	156	6	into	into	ADP
faba-154	156	7	the	the	DET
faba-154	156	8	labor	labor	NOUN
faba-154	156	9	market	market	NOUN
faba-154	156	10	and	and	CCONJ
faba-154	156	11	whose	whose	DET
faba-154	156	12	investment	investment	NOUN
faba-154	156	13	horizon	horizon	NOUN
faba-154	156	14	is	be	AUX
faba-154	156	15	expected	expect	VERB
faba-154	156	16	to	to	PART
faba-154	156	17	be	be	AUX
faba-154	156	18	over	over	ADP
faba-154	156	19	30	30	NUM
faba-154	156	20	years	year	NOUN
faba-154	156	21	need	need	VERB
faba-154	156	22	to	to	PART
faba-154	156	23	worry	worry	VERB
faba-154	156	24	most	most	ADV
faba-154	156	25	about	about	ADP
faba-154	156	26	the	the	DET
faba-154	156	27	inflation	inflation	NOUN
faba-154	156	28	risk	risk	NOUN
faba-154	156	29	.	.	PUNCT
faba-154	157	1	the	the	DET
faba-154	157	2	risk	risk	NOUN
faba-154	157	3	of	of	ADP
faba-154	157	4	declining	decline	VERB
faba-154	157	5	purchasing	purchasing	NOUN
faba-154	157	6	power	power	NOUN
faba-154	157	7	of	of	ADP
faba-154	157	8	money	money	NOUN
faba-154	157	9	is	be	AUX
faba-154	157	10	very	very	ADV
faba-154	157	11	serious	serious	ADJ
faba-154	157	12	for	for	ADP
faba-154	157	13	all	all	DET
faba-154	157	14	types	type	NOUN
faba-154	157	15	of	of	ADP
faba-154	157	16	fully	fully	ADV
faba-154	157	17	funded	fund	VERB
faba-154	157	18	pension	pension	NOUN
faba-154	157	19	schemes	scheme	NOUN
faba-154	157	20	.	.	PUNCT
faba-154	158	1	if	if	SCONJ
faba-154	158	2	pension	pension	NOUN
faba-154	158	3	funds	fund	NOUN
faba-154	158	4	’	'	PUNCT
faba-154	158	5	8	8	NUM
faba-154	158	6	mercer	mercer	PROPN
faba-154	158	7	and	and	CCONJ
faba-154	158	8	cfa	cfa	PROPN
faba-154	158	9	institute	institute	PROPN
faba-154	158	10	publish	publish	VERB
faba-154	158	11	on	on	ADP
faba-154	158	12	a	a	DET
faba-154	158	13	regular	regular	ADJ
faba-154	158	14	basis	basis	NOUN
faba-154	158	15	global	global	ADJ
faba-154	158	16	pension	pension	NOUN
faba-154	158	17	index	index	NOUN
faba-154	158	18	(	(	PUNCT
faba-154	158	19	mcgpi	mcgpi	PROPN
faba-154	158	20	)	)	PUNCT
faba-154	158	21	by	by	ADP
faba-154	158	22	studying	study	VERB
faba-154	158	23	the	the	DET
faba-154	158	24	pension	pension	NOUN
faba-154	158	25	systems	system	NOUN
faba-154	158	26	of	of	ADP
faba-154	158	27	44	44	NUM
faba-154	158	28	countries	country	NOUN
faba-154	158	29	accounting	account	VERB
faba-154	158	30	for	for	ADP
faba-154	158	31	65	65	NUM
faba-154	158	32	%	%	NOUN
faba-154	158	33	of	of	ADP
faba-154	158	34	world	world	NOUN
faba-154	158	35	’s	’s	PART
faba-154	158	36	population	population	NOUN
faba-154	158	37	.	.	PUNCT
faba-154	159	1	jeko	jeko	NOUN
faba-154	159	2	milev	milev	NOUN
faba-154	159	3	/	/	SYM
faba-154	159	4	finance	finance	NOUN
faba-154	159	5	,	,	PUNCT
faba-154	159	6	accounting	accounting	NOUN
faba-154	159	7	and	and	CCONJ
faba-154	159	8	business	business	NOUN
faba-154	159	9	analysis	analysis	NOUN
faba-154	159	10	,	,	PUNCT
faba-154	159	11	volume	volume	NOUN
faba-154	159	12	5	5	NUM
faba-154	159	13	,	,	PUNCT
faba-154	159	14	issue	issue	NOUN
faba-154	159	15	1	1	NUM
faba-154	159	16	,	,	PUNCT
faba-154	159	17	2023	2023	NUM
faba-154	159	18	76	76	NUM
faba-154	159	19	rate	rate	NOUN
faba-154	159	20	of	of	ADP
faba-154	159	21	return	return	NOUN
faba-154	159	22	continuously	continuously	ADV
faba-154	159	23	lags	lag	VERB
faba-154	159	24	behind	behind	ADP
faba-154	159	25	the	the	DET
faba-154	159	26	inflation	inflation	NOUN
faba-154	159	27	rate	rate	NOUN
faba-154	159	28	,	,	PUNCT
faba-154	159	29	the	the	DET
faba-154	159	30	probability	probability	NOUN
faba-154	159	31	of	of	ADP
faba-154	159	32	accumulating	accumulate	VERB
faba-154	159	33	enough	enough	ADJ
faba-154	159	34	resources	resource	NOUN
faba-154	159	35	to	to	PART
faba-154	159	36	finance	finance	VERB
faba-154	159	37	pension	pension	NOUN
faba-154	159	38	benefit	benefit	NOUN
faba-154	159	39	adequate	adequate	ADJ
faba-154	159	40	to	to	ADP
faba-154	159	41	the	the	DET
faba-154	159	42	preretirement	preretirement	ADJ
faba-154	159	43	income	income	NOUN
faba-154	159	44	decreases	decrease	VERB
faba-154	159	45	significantly	significantly	ADV
faba-154	159	46	.	.	PUNCT
faba-154	160	1	assuming	assume	VERB
faba-154	160	2	some	some	DET
faba-154	160	3	risk	risk	NOUN
faba-154	160	4	in	in	ADP
faba-154	160	5	terms	term	NOUN
faba-154	160	6	of	of	ADP
faba-154	160	7	higher	high	ADJ
faba-154	160	8	volatility	volatility	NOUN
faba-154	160	9	of	of	ADP
faba-154	160	10	asset	asset	NOUN
faba-154	160	11	prices	price	NOUN
faba-154	160	12	in	in	ADP
faba-154	160	13	the	the	DET
faba-154	160	14	short	short	ADJ
faba-154	160	15	term	term	NOUN
faba-154	160	16	in	in	ADP
faba-154	160	17	exchange	exchange	NOUN
faba-154	160	18	for	for	ADP
faba-154	160	19	a	a	DET
faba-154	160	20	raised	raise	VERB
faba-154	160	21	probability	probability	NOUN
faba-154	160	22	of	of	ADP
faba-154	160	23	realizing	realize	VERB
faba-154	160	24	yield	yield	NOUN
faba-154	160	25	that	that	PRON
faba-154	160	26	exceeds	exceed	VERB
faba-154	160	27	inflation	inflation	NOUN
faba-154	160	28	in	in	ADP
faba-154	160	29	the	the	DET
faba-154	160	30	mid	mid	ADJ
faba-154	160	31	and	and	CCONJ
faba-154	160	32	in	in	ADP
faba-154	160	33	the	the	DET
faba-154	160	34	long	long	ADJ
faba-154	160	35	term	term	NOUN
faba-154	160	36	looks	look	VERB
faba-154	160	37	like	like	ADP
faba-154	160	38	a	a	DET
faba-154	160	39	good	good	ADJ
faba-154	160	40	deal	deal	NOUN
faba-154	160	41	for	for	ADP
faba-154	160	42	those	those	DET
faba-154	160	43	individuals	individual	NOUN
faba-154	160	44	.	.	PUNCT
faba-154	161	1	on	on	ADP
faba-154	161	2	the	the	DET
faba-154	161	3	other	other	ADJ
faba-154	161	4	hand	hand	NOUN
faba-154	161	5	,	,	PUNCT
faba-154	161	6	people	people	NOUN
faba-154	161	7	whose	whose	DET
faba-154	161	8	retirement	retirement	NOUN
faba-154	161	9	is	be	AUX
faba-154	161	10	close	close	ADJ
faba-154	161	11	and	and	CCONJ
faba-154	161	12	respectively	respectively	ADV
faba-154	161	13	the	the	DET
faba-154	161	14	investment	investment	NOUN
faba-154	161	15	horizon	horizon	NOUN
faba-154	161	16	is	be	AUX
faba-154	161	17	short	short	ADJ
faba-154	161	18	need	need	NOUN
faba-154	161	19	mostly	mostly	ADV
faba-154	161	20	stability	stability	NOUN
faba-154	161	21	of	of	ADP
faba-154	161	22	their	their	PRON
faba-154	161	23	investment	investment	NOUN
faba-154	161	24	.	.	PUNCT
faba-154	162	1	any	any	DET
faba-154	162	2	significant	significant	ADJ
faba-154	162	3	drop	drop	NOUN
faba-154	162	4	in	in	ADP
faba-154	162	5	the	the	DET
faba-154	162	6	value	value	NOUN
faba-154	162	7	of	of	ADP
faba-154	162	8	their	their	PRON
faba-154	162	9	portfolio	portfolio	NOUN
faba-154	162	10	of	of	ADP
faba-154	162	11	assets	asset	NOUN
faba-154	162	12	just	just	ADV
faba-154	162	13	prior	prior	ADV
faba-154	162	14	to	to	ADP
faba-154	162	15	the	the	DET
faba-154	162	16	date	date	NOUN
faba-154	162	17	of	of	ADP
faba-154	162	18	retirement	retirement	NOUN
faba-154	162	19	can	can	AUX
faba-154	162	20	seriously	seriously	ADV
faba-154	162	21	hurt	hurt	VERB
faba-154	162	22	their	their	PRON
faba-154	162	23	financial	financial	ADJ
faba-154	162	24	position	position	NOUN
faba-154	162	25	and	and	CCONJ
faba-154	162	26	the	the	DET
faba-154	162	27	possibility	possibility	NOUN
faba-154	162	28	of	of	ADP
faba-154	162	29	financing	finance	VERB
faba-154	162	30	adequate	adequate	ADJ
faba-154	162	31	benefit	benefit	NOUN
faba-154	162	32	.	.	PUNCT
faba-154	163	1	flexibility	flexibility	NOUN
faba-154	163	2	of	of	ADP
faba-154	163	3	investment	investment	NOUN
faba-154	163	4	rules	rule	NOUN
faba-154	163	5	is	be	AUX
faba-154	163	6	quite	quite	ADV
faba-154	163	7	important	important	ADJ
faba-154	163	8	especially	especially	ADV
faba-154	163	9	when	when	SCONJ
faba-154	163	10	insured	insured	ADJ
faba-154	163	11	individuals	individual	NOUN
faba-154	163	12	are	be	AUX
faba-154	163	13	the	the	DET
faba-154	163	14	ones	one	NOUN
faba-154	163	15	that	that	PRON
faba-154	163	16	bear	bear	VERB
faba-154	163	17	the	the	DET
faba-154	163	18	investment	investment	NOUN
faba-154	163	19	risk	risk	NOUN
faba-154	163	20	.	.	PUNCT
faba-154	164	1	some	some	PRON
faba-154	164	2	of	of	ADP
faba-154	164	3	the	the	DET
faba-154	164	4	cee	cee	NOUN
faba-154	164	5	countries	country	NOUN
faba-154	164	6	were	be	AUX
faba-154	164	7	able	able	ADJ
faba-154	164	8	to	to	PART
faba-154	164	9	introduce	introduce	VERB
faba-154	164	10	the	the	DET
faba-154	164	11	multi	multi	ADJ
faba-154	164	12	-	-	ADJ
faba-154	164	13	fund	fund	ADJ
faba-154	164	14	system	system	NOUN
faba-154	164	15	thus	thus	ADV
faba-154	164	16	enabling	enable	VERB
faba-154	164	17	pension	pension	NOUN
faba-154	164	18	companies	company	NOUN
faba-154	164	19	to	to	PART
faba-154	164	20	structure	structure	VERB
faba-154	164	21	portfolios	portfolio	NOUN
faba-154	164	22	with	with	ADP
faba-154	164	23	different	different	ADJ
faba-154	164	24	risk	risk	NOUN
faba-154	164	25	profiles	profile	NOUN
faba-154	164	26	for	for	ADP
faba-154	164	27	the	the	DET
faba-154	164	28	different	different	ADJ
faba-154	164	29	groups	group	NOUN
faba-154	164	30	of	of	ADP
faba-154	164	31	insured	insure	VERB
faba-154	164	32	.	.	PUNCT
faba-154	165	1	the	the	DET
faba-154	165	2	investment	investment	NOUN
faba-154	165	3	results	result	NOUN
faba-154	165	4	of	of	ADP
faba-154	165	5	the	the	DET
faba-154	165	6	funds	fund	NOUN
faba-154	165	7	with	with	ADP
faba-154	165	8	different	different	ADJ
faba-154	165	9	risk	risk	NOUN
faba-154	165	10	level	level	NOUN
faba-154	165	11	undoubtfully	undoubtfully	ADV
faba-154	165	12	show	show	VERB
faba-154	165	13	that	that	SCONJ
faba-154	165	14	aggressive	aggressive	ADJ
faba-154	165	15	portfolios	portfolio	NOUN
faba-154	165	16	’	'	PUNCT
faba-154	165	17	rate	rate	NOUN
faba-154	165	18	of	of	ADP
faba-154	165	19	return	return	NOUN
faba-154	165	20	is	be	AUX
faba-154	165	21	higher	high	ADJ
faba-154	165	22	than	than	ADP
faba-154	165	23	the	the	DET
faba-154	165	24	one	one	NUM
faba-154	165	25	of	of	ADP
faba-154	165	26	the	the	DET
faba-154	165	27	conservative	conservative	ADJ
faba-154	165	28	funds	fund	NOUN
faba-154	165	29	for	for	ADP
faba-154	165	30	the	the	DET
faba-154	165	31	last	last	ADJ
faba-154	165	32	10	10	NUM
faba-154	165	33	years	year	NOUN
faba-154	165	34	.	.	PUNCT
faba-154	166	1	the	the	DET
faba-154	166	2	unprecedented	unprecedented	ADJ
faba-154	166	3	last	last	ADJ
faba-154	166	4	decade	decade	NOUN
faba-154	166	5	of	of	ADP
faba-154	166	6	zero	zero	NUM
faba-154	166	7	and	and	CCONJ
faba-154	166	8	negative	negative	ADJ
faba-154	166	9	interest	interest	NOUN
faba-154	166	10	rates	rate	NOUN
faba-154	166	11	was	be	AUX
faba-154	166	12	quite	quite	ADV
faba-154	166	13	appropriate	appropriate	ADJ
faba-154	166	14	for	for	ADP
faba-154	166	15	investing	invest	VERB
faba-154	166	16	in	in	ADP
faba-154	166	17	variable	variable	ADJ
faba-154	166	18	income	income	NOUN
faba-154	166	19	instruments	instrument	NOUN
faba-154	166	20	and	and	CCONJ
faba-154	166	21	the	the	DET
faba-154	166	22	funds	fund	NOUN
faba-154	166	23	in	in	ADP
faba-154	166	24	countries	country	NOUN
faba-154	166	25	where	where	SCONJ
faba-154	166	26	investment	investment	NOUN
faba-154	166	27	regulations	regulation	NOUN
faba-154	166	28	were	be	AUX
faba-154	166	29	not	not	PART
faba-154	166	30	so	so	ADV
faba-154	166	31	restrictive	restrictive	ADJ
faba-154	166	32	took	take	VERB
faba-154	166	33	significant	significant	ADJ
faba-154	166	34	advantage	advantage	NOUN
faba-154	166	35	relative	relative	ADJ
faba-154	166	36	to	to	ADP
faba-154	166	37	others	other	NOUN
faba-154	166	38	.	.	PUNCT
faba-154	167	1	insured	insure	VERB
faba-154	167	2	individuals	individual	NOUN
faba-154	167	3	in	in	ADP
faba-154	167	4	estonia	estonia	PROPN
faba-154	167	5	,	,	PUNCT
faba-154	167	6	latvia	latvia	PROPN
faba-154	167	7	,	,	PUNCT
faba-154	167	8	lithuania	lithuania	PROPN
faba-154	167	9	and	and	CCONJ
faba-154	167	10	slovakia	slovakia	PROPN
faba-154	167	11	were	be	AUX
faba-154	167	12	able	able	ADJ
faba-154	167	13	to	to	PART
faba-154	167	14	select	select	VERB
faba-154	167	15	aggressive	aggressive	ADJ
faba-154	167	16	strategy	strategy	NOUN
faba-154	167	17	for	for	ADP
faba-154	167	18	their	their	PRON
faba-154	167	19	pension	pension	NOUN
faba-154	167	20	savings	saving	NOUN
faba-154	167	21	and	and	CCONJ
faba-154	167	22	the	the	DET
faba-154	167	23	assumed	assume	VERB
faba-154	167	24	risk	risk	NOUN
faba-154	167	25	was	be	AUX
faba-154	167	26	compensated	compensate	VERB
faba-154	167	27	with	with	ADP
faba-154	167	28	significantly	significantly	ADV
faba-154	167	29	higher	high	ADJ
faba-154	167	30	return9	return9	NOUN
faba-154	167	31	.	.	PUNCT
faba-154	168	1	it	it	PRON
faba-154	168	2	is	be	AUX
faba-154	168	3	an	an	DET
faba-154	168	4	interesting	interesting	ADJ
faba-154	168	5	fact	fact	NOUN
faba-154	168	6	that	that	SCONJ
faba-154	168	7	the	the	DET
faba-154	168	8	funds	fund	NOUN
faba-154	168	9	whose	whose	DET
faba-154	168	10	rate	rate	NOUN
faba-154	168	11	of	of	ADP
faba-154	168	12	return	return	NOUN
faba-154	168	13	is	be	AUX
faba-154	168	14	the	the	DET
faba-154	168	15	highest	high	ADJ
faba-154	168	16	one	one	NUM
faba-154	168	17	are	be	AUX
faba-154	168	18	those	those	PRON
faba-154	168	19	with	with	ADP
faba-154	168	20	adopted	adopt	VERB
faba-154	168	21	passive	passive	ADJ
faba-154	168	22	investment	investment	NOUN
faba-154	168	23	strategy	strategy	NOUN
faba-154	168	24	following	follow	VERB
faba-154	168	25	some	some	DET
faba-154	168	26	market	market	NOUN
faba-154	168	27	index10	index10	NOUN
faba-154	168	28	.	.	PUNCT
faba-154	169	1	the	the	DET
faba-154	169	2	funds	fund	NOUN
faba-154	169	3	in	in	ADP
faba-154	169	4	countries	country	NOUN
faba-154	169	5	where	where	SCONJ
faba-154	169	6	regulatory	regulatory	ADJ
faba-154	169	7	restrictions	restriction	NOUN
faba-154	169	8	did	do	AUX
faba-154	169	9	n’t	not	PART
faba-154	169	10	allow	allow	VERB
faba-154	169	11	the	the	DET
faba-154	169	12	construction	construction	NOUN
faba-154	169	13	of	of	ADP
faba-154	169	14	different	different	ADJ
faba-154	169	15	portfolios	portfolio	NOUN
faba-154	169	16	of	of	ADP
faba-154	169	17	assets	asset	NOUN
faba-154	169	18	adjusted	adjust	VERB
faba-154	169	19	for	for	ADP
faba-154	169	20	the	the	DET
faba-154	169	21	risk	risk	NOUN
faba-154	169	22	profile	profile	NOUN
faba-154	169	23	of	of	ADP
faba-154	169	24	the	the	DET
faba-154	169	25	insured	insure	VERB
faba-154	169	26	individuals	individual	NOUN
faba-154	169	27	were	be	AUX
faba-154	169	28	not	not	PART
faba-154	169	29	so	so	ADV
faba-154	169	30	successful	successful	ADJ
faba-154	169	31	in	in	ADP
faba-154	169	32	their	their	PRON
faba-154	169	33	investment	investment	NOUN
faba-154	169	34	performance	performance	NOUN
faba-154	169	35	in	in	ADP
faba-154	169	36	the	the	DET
faba-154	169	37	last	last	ADJ
faba-154	169	38	decade	decade	NOUN
faba-154	169	39	.	.	PUNCT
faba-154	170	1	investment	investment	NOUN
faba-154	170	2	managers	manager	NOUN
faba-154	170	3	in	in	ADP
faba-154	170	4	those	those	DET
faba-154	170	5	countries	country	NOUN
faba-154	170	6	were	be	AUX
faba-154	170	7	trying	try	VERB
faba-154	170	8	to	to	PART
faba-154	170	9	follow	follow	VERB
faba-154	170	10	a	a	DET
faba-154	170	11	balanced	balanced	ADJ
faba-154	170	12	strategy	strategy	NOUN
faba-154	170	13	but	but	CCONJ
faba-154	170	14	investing	invest	VERB
faba-154	170	15	traditionally	traditionally	ADV
faba-154	170	16	in	in	ADP
faba-154	170	17	fixed	fix	VERB
faba-154	170	18	income	income	NOUN
faba-154	170	19	instruments	instrument	NOUN
faba-154	170	20	in	in	ADP
faba-154	170	21	an	an	DET
faba-154	170	22	environment	environment	NOUN
faba-154	170	23	of	of	ADP
faba-154	170	24	extremely	extremely	ADV
faba-154	170	25	low	low	ADJ
faba-154	170	26	interest	interest	NOUN
faba-154	170	27	rates	rate	NOUN
faba-154	170	28	proved	prove	VERB
faba-154	170	29	to	to	PART
faba-154	170	30	be	be	AUX
faba-154	170	31	an	an	DET
faba-154	170	32	unsuccessful	unsuccessful	ADJ
faba-154	170	33	approach	approach	NOUN
faba-154	170	34	for	for	ADP
faba-154	170	35	the	the	DET
faba-154	170	36	past	past	ADJ
faba-154	170	37	years	year	NOUN
faba-154	170	38	.	.	PUNCT
faba-154	171	1	the	the	DET
faba-154	171	2	exact	exact	ADJ
faba-154	171	3	results	result	NOUN
faba-154	171	4	of	of	ADP
faba-154	171	5	the	the	DET
faba-154	171	6	different	different	ADJ
faba-154	171	7	types	type	NOUN
faba-154	171	8	of	of	ADP
faba-154	171	9	funds	fund	NOUN
faba-154	171	10	and	and	CCONJ
faba-154	171	11	the	the	DET
faba-154	171	12	comparison	comparison	NOUN
faba-154	171	13	with	with	ADP
faba-154	171	14	the	the	DET
faba-154	171	15	inflation	inflation	NOUN
faba-154	171	16	rate	rate	NOUN
faba-154	171	17	will	will	AUX
faba-154	171	18	be	be	AUX
faba-154	171	19	analyzed	analyze	VERB
faba-154	171	20	in	in	ADP
faba-154	171	21	another	another	DET
faba-154	171	22	research	research	NOUN
faba-154	171	23	.	.	PUNCT
faba-154	172	1	management	management	NOUN
faba-154	172	2	fees	fee	NOUN
faba-154	172	3	are	be	AUX
faba-154	172	4	the	the	DET
faba-154	172	5	third	third	ADJ
faba-154	172	6	component	component	NOUN
faba-154	172	7	that	that	PRON
faba-154	172	8	seriously	seriously	ADV
faba-154	172	9	affects	affect	VERB
faba-154	172	10	the	the	DET
faba-154	172	11	amount	amount	NOUN
faba-154	172	12	accumulated	accumulate	VERB
faba-154	172	13	into	into	ADP
faba-154	172	14	one	one	NUM
faba-154	172	15	’s	’s	PART
faba-154	172	16	individual	individual	ADJ
faba-154	172	17	account	account	NOUN
faba-154	172	18	.	.	PUNCT
faba-154	173	1	the	the	DET
faba-154	173	2	costs	cost	NOUN
faba-154	173	3	incurred	incur	VERB
faba-154	173	4	by	by	ADP
faba-154	173	5	the	the	DET
faba-154	173	6	insured	insure	VERB
faba-154	173	7	individuals	individual	NOUN
faba-154	173	8	directly	directly	ADV
faba-154	173	9	reduce	reduce	VERB
faba-154	173	10	the	the	DET
faba-154	173	11	realized	realize	VERB
faba-154	173	12	yield	yield	NOUN
faba-154	173	13	and	and	CCONJ
faba-154	173	14	could	could	AUX
faba-154	173	15	significantly	significantly	ADV
faba-154	173	16	influence	influence	VERB
faba-154	173	17	the	the	DET
faba-154	173	18	performance	performance	NOUN
faba-154	173	19	of	of	ADP
faba-154	173	20	the	the	DET
faba-154	173	21	fund	fund	NOUN
faba-154	173	22	.	.	PUNCT
faba-154	174	1	the	the	DET
faba-154	174	2	fees	fee	NOUN
faba-154	174	3	charged	charge	VERB
faba-154	174	4	by	by	ADP
faba-154	174	5	the	the	DET
faba-154	174	6	compulsory	compulsory	ADJ
faba-154	174	7	pension	pension	NOUN
faba-154	174	8	funds	fund	NOUN
faba-154	174	9	in	in	ADP
faba-154	174	10	cee	cee	NOUN
faba-154	174	11	countries	country	NOUN
faba-154	174	12	are	be	AUX
faba-154	174	13	strictly	strictly	ADV
faba-154	174	14	regulated	regulate	VERB
faba-154	174	15	.	.	PUNCT
faba-154	175	1	according	accord	VERB
faba-154	175	2	to	to	ADP
faba-154	175	3	davis	davis	PROPN
faba-154	175	4	(	(	PUNCT
faba-154	175	5	1993	1993	NUM
faba-154	175	6	)	)	PUNCT
faba-154	175	7	“	"	PUNCT
faba-154	175	8	costs	cost	NOUN
faba-154	175	9	are	be	AUX
faba-154	175	10	higher	high	ADJ
faba-154	175	11	for	for	ADP
faba-154	175	12	small	small	ADJ
faba-154	175	13	funds	fund	NOUN
faba-154	175	14	than	than	ADP
faba-154	175	15	large	large	ADJ
faba-154	175	16	,	,	PUNCT
faba-154	175	17	and	and	CCONJ
faba-154	175	18	for	for	ADP
faba-154	175	19	defined	define	VERB
faba-154	175	20	benefit	benefit	NOUN
faba-154	175	21	relative	relative	ADJ
faba-154	175	22	to	to	ADP
faba-154	175	23	defined	define	VERB
faba-154	175	24	contribution	contribution	NOUN
faba-154	175	25	”	"	PUNCT
faba-154	175	26	.	.	PUNCT
faba-154	176	1	this	this	DET
faba-154	176	2	observation	observation	NOUN
faba-154	176	3	is	be	AUX
faba-154	176	4	partly	partly	ADV
faba-154	176	5	confirmed	confirm	VERB
faba-154	176	6	by	by	ADP
faba-154	176	7	the	the	DET
faba-154	176	8	development	development	NOUN
faba-154	176	9	of	of	ADP
faba-154	176	10	the	the	DET
faba-154	176	11	bulgarian	bulgarian	ADJ
faba-154	176	12	pension	pension	NOUN
faba-154	176	13	insurance	insurance	NOUN
faba-154	176	14	companies	company	NOUN
faba-154	176	15	whose	whose	DET
faba-154	176	16	fees	fee	NOUN
faba-154	176	17	charged	charge	VERB
faba-154	176	18	on	on	ADP
faba-154	176	19	the	the	DET
faba-154	176	20	managed	manage	VERB
faba-154	176	21	funds	fund	NOUN
faba-154	176	22	’	'	PUNCT
faba-154	176	23	assets	asset	NOUN
faba-154	176	24	were	be	AUX
faba-154	176	25	higher	high	ADJ
faba-154	176	26	at	at	ADP
faba-154	176	27	the	the	DET
faba-154	176	28	beginning	beginning	NOUN
faba-154	176	29	of	of	ADP
faba-154	176	30	their	their	PRON
faba-154	176	31	operation	operation	NOUN
faba-154	176	32	and	and	CCONJ
faba-154	176	33	gradually	gradually	ADV
faba-154	176	34	declined	decline	VERB
faba-154	176	35	.	.	PUNCT
faba-154	177	1	the	the	DET
faba-154	177	2	investment	investment	NOUN
faba-154	177	3	fee	fee	NOUN
faba-154	177	4	charged	charge	VERB
faba-154	177	5	on	on	ADP
faba-154	177	6	the	the	DET
faba-154	177	7	value	value	NOUN
faba-154	177	8	of	of	ADP
faba-154	177	9	the	the	DET
faba-154	177	10	managed	manage	VERB
faba-154	177	11	assets	asset	NOUN
faba-154	177	12	used	use	VERB
faba-154	177	13	to	to	PART
faba-154	177	14	be	be	AUX
faba-154	177	15	maximum	maximum	ADJ
faba-154	177	16	1	1	NUM
faba-154	177	17	%	%	NOUN
faba-154	177	18	annually	annually	ADV
faba-154	177	19	for	for	ADP
faba-154	177	20	the	the	DET
faba-154	177	21	period	period	NOUN
faba-154	177	22	between	between	ADP
faba-154	177	23	2002	2002	NUM
faba-154	177	24	and	and	CCONJ
faba-154	177	25	2015	2015	NUM
faba-154	177	26	and	and	CCONJ
faba-154	177	27	then	then	ADV
faba-154	177	28	it	it	PRON
faba-154	177	29	was	be	AUX
faba-154	177	30	lowered	lower	VERB
faba-154	177	31	to	to	ADP
faba-154	177	32	maximum	maximum	NOUN
faba-154	177	33	0.75	0.75	NUM
faba-154	177	34	%	%	NOUN
faba-154	177	35	in	in	ADP
faba-154	177	36	2019	2019	NUM
faba-154	177	37	.	.	PUNCT
faba-154	178	1	the	the	DET
faba-154	178	2	management	management	NOUN
faba-154	178	3	fee	fee	NOUN
faba-154	178	4	charged	charge	VERB
faba-154	178	5	on	on	ADP
faba-154	178	6	each	each	DET
faba-154	178	7	paid	pay	VERB
faba-154	178	8	contribution	contribution	NOUN
faba-154	178	9	was	be	AUX
faba-154	178	10	maximum	maximum	ADJ
faba-154	178	11	5	5	NUM
faba-154	178	12	%	%	NOUN
faba-154	178	13	between	between	ADP
faba-154	178	14	2002	2002	NUM
faba-154	178	15	and	and	CCONJ
faba-154	178	16	2015	2015	NUM
faba-154	178	17	and	and	CCONJ
faba-154	178	18	has	have	AUX
faba-154	178	19	been	be	AUX
faba-154	178	20	gradually	gradually	ADV
faba-154	178	21	reduced	reduce	VERB
faba-154	178	22	to	to	ADP
faba-154	178	23	3.75	3.75	NUM
faba-154	178	24	%	%	NOUN
faba-154	178	25	since	since	SCONJ
faba-154	178	26	2019	2019	NUM
faba-154	178	27	.	.	PUNCT
faba-154	179	1	the	the	DET
faba-154	179	2	observation	observation	NOUN
faba-154	179	3	“	"	PUNCT
faba-154	179	4	the	the	DET
faba-154	179	5	smaller	small	ADJ
faba-154	179	6	the	the	DET
faba-154	179	7	fund	fund	NOUN
faba-154	179	8	,	,	PUNCT
faba-154	179	9	the	the	PRON
faba-154	179	10	higher	high	ADJ
faba-154	179	11	the	the	DET
faba-154	179	12	fees	fee	NOUN
faba-154	179	13	”	"	PUNCT
faba-154	179	14	is	be	AUX
faba-154	179	15	quite	quite	ADV
faba-154	179	16	valid	valid	ADJ
faba-154	179	17	for	for	ADP
faba-154	179	18	the	the	DET
faba-154	179	19	development	development	NOUN
faba-154	179	20	of	of	ADP
faba-154	179	21	the	the	DET
faba-154	179	22	universal	universal	ADJ
faba-154	179	23	pension	pension	NOUN
faba-154	179	24	funds	fund	NOUN
faba-154	179	25	in	in	ADP
faba-154	179	26	bulgaria	bulgaria	PROPN
faba-154	179	27	.	.	PUNCT
faba-154	180	1	however	however	ADV
faba-154	180	2	,	,	PUNCT
faba-154	180	3	the	the	DET
faba-154	180	4	regulator	regulator	NOUN
faba-154	180	5	,	,	PUNCT
faba-154	180	6	in	in	ADP
faba-154	180	7	this	this	DET
faba-154	180	8	case	case	NOUN
faba-154	180	9	,	,	PUNCT
faba-154	180	10	plays	play	VERB
faba-154	180	11	a	a	DET
faba-154	180	12	major	major	ADJ
faba-154	180	13	role	role	NOUN
faba-154	180	14	since	since	SCONJ
faba-154	180	15	the	the	DET
faba-154	180	16	general	general	ADJ
faba-154	180	17	practice	practice	NOUN
faba-154	180	18	was	be	AUX
faba-154	180	19	pension	pension	NOUN
faba-154	180	20	companies	company	NOUN
faba-154	180	21	to	to	PART
faba-154	180	22	charge	charge	VERB
faba-154	180	23	the	the	DET
faba-154	180	24	maximum	maximum	ADJ
faba-154	180	25	allowed	allow	VERB
faba-154	180	26	amount	amount	NOUN
faba-154	180	27	.	.	PUNCT
faba-154	181	1	the	the	DET
faba-154	181	2	fact	fact	NOUN
faba-154	181	3	that	that	SCONJ
faba-154	181	4	fees	fee	NOUN
faba-154	181	5	are	be	AUX
faba-154	181	6	gradually	gradually	ADV
faba-154	181	7	decreasing	decrease	VERB
faba-154	181	8	is	be	AUX
faba-154	181	9	a	a	DET
faba-154	181	10	positive	positive	ADJ
faba-154	181	11	one	one	NOUN
faba-154	181	12	and	and	CCONJ
faba-154	181	13	could	could	AUX
faba-154	181	14	further	far	ADV
faba-154	181	15	boost	boost	VERB
faba-154	181	16	the	the	DET
faba-154	181	17	performance	performance	NOUN
faba-154	181	18	of	of	ADP
faba-154	181	19	the	the	DET
faba-154	181	20	funds	fund	NOUN
faba-154	181	21	in	in	ADP
faba-154	181	22	the	the	DET
faba-154	181	23	next	next	ADJ
faba-154	181	24	years	year	NOUN
faba-154	181	25	.	.	PUNCT
faba-154	182	1	similar	similar	ADJ
faba-154	182	2	trend	trend	NOUN
faba-154	182	3	is	be	AUX
faba-154	182	4	observed	observe	VERB
faba-154	182	5	for	for	ADP
faba-154	182	6	the	the	DET
faba-154	182	7	fees	fee	NOUN
faba-154	182	8	charged	charge	VERB
faba-154	182	9	by	by	ADP
faba-154	182	10	the	the	DET
faba-154	182	11	pension	pension	NOUN
faba-154	182	12	companies	company	NOUN
faba-154	182	13	in	in	ADP
faba-154	182	14	other	other	ADJ
faba-154	182	15	cee	cee	NOUN
faba-154	182	16	countries	country	NOUN
faba-154	182	17	as	as	ADV
faba-154	182	18	well	well	ADV
faba-154	182	19	.	.	PUNCT
faba-154	183	1	the	the	DET
faba-154	183	2	three	three	NUM
faba-154	183	3	analyzed	analyze	VERB
faba-154	183	4	components	component	NOUN
faba-154	183	5	(	(	PUNCT
faba-154	183	6	paid	pay	VERB
faba-154	183	7	contributions	contribution	NOUN
faba-154	183	8	,	,	PUNCT
faba-154	183	9	realized	realize	VERB
faba-154	183	10	yield	yield	NOUN
faba-154	183	11	,	,	PUNCT
faba-154	183	12	charged	charge	VERB
faba-154	183	13	fees	fee	NOUN
faba-154	183	14	)	)	PUNCT
faba-154	183	15	are	be	AUX
faba-154	183	16	undoubtfully	undoubtfully	ADV
faba-154	183	17	important	important	ADJ
faba-154	183	18	for	for	ADP
faba-154	183	19	establishing	establish	VERB
faba-154	183	20	defined	define	VERB
faba-154	183	21	contribution	contribution	NOUN
faba-154	183	22	pension	pension	NOUN
faba-154	183	23	schemes	scheme	NOUN
faba-154	183	24	as	as	ADP
faba-154	183	25	an	an	DET
faba-154	183	26	important	important	ADJ
faba-154	183	27	factor	factor	NOUN
faba-154	183	28	for	for	ADP
faba-154	183	29	the	the	DET
faba-154	183	30	future	future	ADJ
faba-154	183	31	adequacy	adequacy	NOUN
faba-154	183	32	and	and	CCONJ
faba-154	183	33	sustainability	sustainability	NOUN
faba-154	183	34	of	of	ADP
faba-154	183	35	the	the	DET
faba-154	183	36	pension	pension	NOUN
faba-154	183	37	systems	system	NOUN
faba-154	183	38	in	in	ADP
faba-154	183	39	cee	cee	NOUN
faba-154	183	40	countries	country	NOUN
faba-154	183	41	.	.	PUNCT
faba-154	184	1	however	however	ADV
faba-154	184	2	,	,	PUNCT
faba-154	184	3	there	there	PRON
faba-154	184	4	is	be	VERB
faba-154	184	5	one	one	NUM
faba-154	184	6	crucial	crucial	ADJ
faba-154	184	7	element	element	NOUN
faba-154	184	8	that	that	SCONJ
faba-154	184	9	if	if	SCONJ
faba-154	184	10	not	not	PART
faba-154	184	11	put	put	VERB
faba-154	184	12	under	under	ADP
faba-154	184	13	control	control	NOUN
faba-154	184	14	,	,	PUNCT
faba-154	184	15	could	could	AUX
faba-154	184	16	devastate	devastate	VERB
faba-154	184	17	the	the	DET
faba-154	184	18	fully	fully	ADV
faba-154	184	19	funded	fund	VERB
faba-154	184	20	pillars	pillar	NOUN
faba-154	184	21	in	in	ADP
faba-154	184	22	all	all	PRON
faba-154	184	23	of	of	ADP
faba-154	184	24	the	the	DET
faba-154	184	25	countries	country	NOUN
faba-154	184	26	in	in	ADP
faba-154	184	27	europe	europe	PROPN
faba-154	184	28	–	–	PUNCT
faba-154	184	29	inflation	inflation	NOUN
faba-154	184	30	.	.	PUNCT
faba-154	185	1	the	the	DET
faba-154	185	2	last	last	ADJ
faba-154	185	3	decade	decade	NOUN
faba-154	185	4	of	of	ADP
faba-154	185	5	unprecedented	unprecedented	ADJ
faba-154	185	6	low	low	ADJ
faba-154	185	7	interest	interest	NOUN
faba-154	185	8	rates	rate	NOUN
faba-154	185	9	and	and	CCONJ
faba-154	185	10	very	very	ADV
faba-154	185	11	loose	loose	ADJ
faba-154	185	12	monetary	monetary	ADJ
faba-154	185	13	policy	policy	NOUN
faba-154	185	14	implemented	implement	VERB
faba-154	185	15	by	by	ADP
faba-154	185	16	the	the	DET
faba-154	185	17	main	main	ADJ
faba-154	185	18	central	central	ADJ
faba-154	185	19	banks	bank	NOUN
faba-154	185	20	(	(	PUNCT
faba-154	185	21	mostly	mostly	ADV
faba-154	185	22	fed	feed	VERB
faba-154	185	23	and	and	CCONJ
faba-154	185	24	ecb	ecb	PROPN
faba-154	185	25	)	)	PUNCT
faba-154	185	26	provoked	provoke	VERB
faba-154	185	27	high	high	ADJ
faba-154	185	28	inflation	inflation	NOUN
faba-154	185	29	rate	rate	NOUN
faba-154	185	30	in	in	ADP
faba-154	185	31	2022	2022	NUM
faba-154	185	32	which	which	PRON
faba-154	185	33	reverse	reverse	VERB
faba-154	185	34	the	the	DET
faba-154	185	35	trend	trend	NOUN
faba-154	185	36	in	in	ADP
faba-154	185	37	interest	interest	NOUN
faba-154	185	38	rate	rate	NOUN
faba-154	185	39	level	level	NOUN
faba-154	185	40	and	and	CCONJ
faba-154	185	41	for	for	ADP
faba-154	185	42	a	a	DET
faba-154	185	43	period	period	NOUN
faba-154	185	44	of	of	ADP
faba-154	185	45	12	12	NUM
faba-154	185	46	months	month	NOUN
faba-154	185	47	both	both	CCONJ
faba-154	185	48	fed	fed	PROPN
faba-154	185	49	and	and	CCONJ
faba-154	185	50	ecb	ecb	PROPN
faba-154	185	51	raised	raise	VERB
faba-154	185	52	the	the	DET
faba-154	185	53	main	main	ADJ
faba-154	185	54	reference	reference	NOUN
faba-154	185	55	rates	rate	NOUN
faba-154	185	56	significantly11	significantly11	VERB
faba-154	185	57	.	.	PUNCT
faba-154	186	1	the	the	DET
faba-154	186	2	inflation	inflation	NOUN
faba-154	186	3	rate	rate	NOUN
faba-154	186	4	and	and	CCONJ
faba-154	186	5	the	the	DET
faba-154	186	6	resulting	result	VERB
faba-154	186	7	volatility	volatility	NOUN
faba-154	186	8	of	of	ADP
faba-154	186	9	interest	interest	NOUN
faba-154	186	10	rate	rate	NOUN
faba-154	186	11	levels	level	NOUN
faba-154	186	12	have	have	VERB
faba-154	186	13	disastrous	disastrous	ADJ
faba-154	186	14	effects	effect	NOUN
faba-154	186	15	for	for	ADP
faba-154	186	16	the	the	DET
faba-154	186	17	pension	pension	NOUN
faba-154	186	18	funds	fund	NOUN
faba-154	186	19	both	both	CCONJ
faba-154	186	20	in	in	ADP
faba-154	186	21	the	the	DET
faba-154	186	22	short	short	ADJ
faba-154	186	23	and	and	CCONJ
faba-154	186	24	in	in	ADP
faba-154	186	25	the	the	DET
faba-154	186	26	long	long	ADJ
faba-154	186	27	term	term	NOUN
faba-154	186	28	.	.	PUNCT
faba-154	187	1	the	the	DET
faba-154	187	2	sharp	sharp	ADJ
faba-154	187	3	rise	rise	NOUN
faba-154	187	4	of	of	ADP
faba-154	187	5	interest	interest	NOUN
faba-154	187	6	rates	rate	NOUN
faba-154	187	7	resulted	result	VERB
faba-154	187	8	in	in	ADP
faba-154	187	9	a	a	DET
faba-154	187	10	drastic	drastic	ADJ
faba-154	187	11	drop	drop	NOUN
faba-154	187	12	of	of	ADP
faba-154	187	13	the	the	DET
faba-154	187	14	market	market	NOUN
faba-154	187	15	values	value	NOUN
faba-154	187	16	of	of	ADP
faba-154	187	17	all	all	DET
faba-154	187	18	fixed	fix	VERB
faba-154	187	19	income	income	NOUN
faba-154	187	20	securities	security	NOUN
faba-154	187	21	in	in	ADP
faba-154	187	22	the	the	DET
faba-154	187	23	portfolios	portfolio	NOUN
faba-154	187	24	of	of	ADP
faba-154	187	25	pension	pension	NOUN
faba-154	187	26	funds	fund	NOUN
faba-154	187	27	.	.	PUNCT
faba-154	188	1	the	the	DET
faba-154	188	2	widely	widely	ADV
faba-154	188	3	adopted	adopt	VERB
faba-154	188	4	mark	mark	NOUN
faba-154	188	5	to	to	ADP
faba-154	188	6	market	market	NOUN
faba-154	188	7	approach	approach	NOUN
faba-154	188	8	in	in	ADP
faba-154	188	9	evaluation	evaluation	NOUN
faba-154	188	10	of	of	ADP
faba-154	188	11	these	these	DET
faba-154	188	12	securities	security	NOUN
faba-154	188	13	lead	lead	VERB
faba-154	188	14	to	to	ADP
faba-154	188	15	announcing	announce	VERB
faba-154	188	16	huge	huge	ADJ
faba-154	188	17	losses	loss	NOUN
faba-154	188	18	in	in	ADP
faba-154	188	19	2022	2022	NUM
faba-154	188	20	.	.	PUNCT
faba-154	189	1	that	that	PRON
faba-154	189	2	could	could	AUX
faba-154	189	3	significantly	significantly	ADV
faba-154	189	4	undermine	undermine	VERB
faba-154	189	5	the	the	DET
faba-154	189	6	trust	trust	NOUN
faba-154	189	7	of	of	ADP
faba-154	189	8	the	the	DET
faba-154	189	9	general	general	ADJ
faba-154	189	10	public	public	NOUN
faba-154	189	11	towards	towards	ADP
faba-154	189	12	9	9	NUM
faba-154	189	13	the	the	DET
faba-154	189	14	aggressive	aggressive	ADJ
faba-154	189	15	portfolios	portfolio	NOUN
faba-154	189	16	in	in	ADP
faba-154	189	17	slovakia	slovakia	PROPN
faba-154	189	18	realized	realize	VERB
faba-154	189	19	2	2	NUM
faba-154	189	20	to	to	ADP
faba-154	189	21	3	3	NUM
faba-154	189	22	times	time	NOUN
faba-154	189	23	higher	high	ADJ
faba-154	189	24	return	return	NOUN
faba-154	189	25	than	than	ADP
faba-154	189	26	the	the	DET
faba-154	189	27	conservative	conservative	ADJ
faba-154	189	28	ones	one	NOUN
faba-154	189	29	for	for	ADP
faba-154	189	30	the	the	DET
faba-154	189	31	period	period	NOUN
faba-154	189	32	between	between	ADP
faba-154	189	33	2013	2013	NUM
faba-154	189	34	-	-	SYM
faba-154	189	35	2022	2022	NUM
faba-154	189	36	.	.	PUNCT
faba-154	190	1	10	10	NUM
faba-154	190	2	in	in	ADP
faba-154	190	3	slovakia	slovakia	PROPN
faba-154	190	4	pension	pension	NOUN
faba-154	190	5	funds	fund	NOUN
faba-154	190	6	are	be	AUX
faba-154	190	7	obliged	oblige	VERB
faba-154	190	8	to	to	PART
faba-154	190	9	offer	offer	VERB
faba-154	190	10	portfolio	portfolio	NOUN
faba-154	190	11	of	of	ADP
faba-154	190	12	assets	asset	NOUN
faba-154	190	13	that	that	PRON
faba-154	190	14	replicates	replicate	VERB
faba-154	190	15	a	a	DET
faba-154	190	16	market	market	NOUN
faba-154	190	17	index	index	NOUN
faba-154	190	18	.	.	PUNCT
faba-154	191	1	the	the	DET
faba-154	191	2	investment	investment	NOUN
faba-154	191	3	performance	performance	NOUN
faba-154	191	4	of	of	ADP
faba-154	191	5	these	these	DET
faba-154	191	6	portfolios	portfolio	NOUN
faba-154	191	7	significantly	significantly	ADV
faba-154	191	8	exceeds	exceed	VERB
faba-154	191	9	the	the	DET
faba-154	191	10	yield	yield	NOUN
faba-154	191	11	realized	realize	VERB
faba-154	191	12	by	by	ADP
faba-154	191	13	aggressive	aggressive	ADJ
faba-154	191	14	portfolios	portfolio	NOUN
faba-154	191	15	which	which	PRON
faba-154	191	16	have	have	AUX
faba-154	191	17	been	be	AUX
faba-154	191	18	managed	manage	VERB
faba-154	191	19	actively	actively	ADV
faba-154	191	20	for	for	ADP
faba-154	191	21	the	the	DET
faba-154	191	22	period	period	NOUN
faba-154	191	23	2013	2013	NUM
faba-154	191	24	-	-	SYM
faba-154	191	25	2022	2022	NUM
faba-154	191	26	11	11	NUM
faba-154	191	27	ecb	ecb	NOUN
faba-154	191	28	raised	raise	VERB
faba-154	191	29	the	the	DET
faba-154	191	30	reference	reference	NOUN
faba-154	191	31	rate	rate	NOUN
faba-154	191	32	from	from	ADP
faba-154	191	33	0	0	NUM
faba-154	191	34	%	%	NOUN
faba-154	191	35	to	to	ADP
faba-154	191	36	3.75	3.75	NUM
faba-154	191	37	%	%	NOUN
faba-154	191	38	and	and	CCONJ
faba-154	191	39	fed	fed	PROPN
faba-154	191	40	raised	raise	VERB
faba-154	191	41	the	the	DET
faba-154	191	42	rate	rate	NOUN
faba-154	191	43	from	from	ADP
faba-154	191	44	0	0	NUM
faba-154	191	45	%	%	NOUN
faba-154	191	46	to	to	ADP
faba-154	191	47	5.25	5.25	NUM
faba-154	191	48	%	%	NOUN
faba-154	191	49	for	for	ADP
faba-154	191	50	the	the	DET
faba-154	191	51	period	period	NOUN
faba-154	191	52	between	between	ADP
faba-154	191	53	01.01.2022	01.01.2022	PROPN
faba-154	191	54	and	and	CCONJ
faba-154	191	55	10.05.2023	10.05.2023	NUM
faba-154	191	56	.	.	PUNCT
faba-154	191	57	jeko	jeko	NOUN
faba-154	191	58	milev	milev	NOUN
faba-154	191	59	/	/	SYM
faba-154	191	60	finance	finance	NOUN
faba-154	191	61	,	,	PUNCT
faba-154	191	62	accounting	accounting	NOUN
faba-154	191	63	and	and	CCONJ
faba-154	191	64	business	business	NOUN
faba-154	191	65	analysis	analysis	NOUN
faba-154	191	66	,	,	PUNCT
faba-154	191	67	volume	volume	NOUN
faba-154	191	68	5	5	NUM
faba-154	191	69	,	,	PUNCT
faba-154	191	70	issue	issue	NOUN
faba-154	191	71	1	1	NUM
faba-154	191	72	,	,	PUNCT
faba-154	191	73	2023	2023	NUM
faba-154	191	74	77	77	NUM
faba-154	191	75	pension	pension	NOUN
faba-154	191	76	funds	fund	NOUN
faba-154	191	77	although	although	SCONJ
faba-154	191	78	the	the	DET
faba-154	191	79	duration	duration	NOUN
faba-154	191	80	of	of	ADP
faba-154	191	81	their	their	PRON
faba-154	191	82	liabilities	liability	NOUN
faba-154	191	83	allows	allow	VERB
faba-154	191	84	the	the	DET
faba-154	191	85	losses	loss	NOUN
faba-154	191	86	currently	currently	ADV
faba-154	191	87	to	to	PART
faba-154	191	88	be	be	AUX
faba-154	191	89	considered	consider	VERB
faba-154	191	90	as	as	ADP
faba-154	191	91	“	"	PUNCT
faba-154	191	92	accounting	accounting	NOUN
faba-154	191	93	ones	one	NOUN
faba-154	191	94	”	"	PUNCT
faba-154	191	95	.	.	PUNCT
faba-154	192	1	in	in	ADP
faba-154	192	2	the	the	DET
faba-154	192	3	long	long	ADJ
faba-154	192	4	term	term	NOUN
faba-154	192	5	,	,	PUNCT
faba-154	192	6	however	however	ADV
faba-154	192	7	,	,	PUNCT
faba-154	192	8	inflation	inflation	NOUN
faba-154	192	9	could	could	AUX
faba-154	192	10	be	be	AUX
faba-154	192	11	even	even	ADV
faba-154	192	12	more	more	ADV
faba-154	192	13	erroneous	erroneous	ADJ
faba-154	192	14	.	.	PUNCT
faba-154	193	1	rates	rate	NOUN
faba-154	193	2	of	of	ADP
faba-154	193	3	inflation	inflation	NOUN
faba-154	193	4	like	like	ADP
faba-154	193	5	the	the	DET
faba-154	193	6	ones	one	NOUN
faba-154	193	7	in	in	ADP
faba-154	193	8	2022	2022	NUM
faba-154	193	9	could	could	AUX
faba-154	193	10	devastate	devastate	VERB
faba-154	193	11	the	the	DET
faba-154	193	12	defined	define	VERB
faba-154	193	13	contribution	contribution	NOUN
faba-154	193	14	pension	pension	NOUN
faba-154	193	15	schemes	scheme	NOUN
faba-154	193	16	.	.	PUNCT
faba-154	194	1	it	it	PRON
faba-154	194	2	is	be	AUX
faba-154	194	3	almost	almost	ADV
faba-154	194	4	impossible	impossible	ADJ
faba-154	194	5	to	to	PART
faba-154	194	6	realize	realize	VERB
faba-154	194	7	rate	rate	NOUN
faba-154	194	8	of	of	ADP
faba-154	194	9	return	return	NOUN
faba-154	194	10	that	that	PRON
faba-154	194	11	exceeds	exceed	VERB
faba-154	194	12	such	such	ADJ
faba-154	194	13	rates12	rates12	NOUN
faba-154	194	14	of	of	ADP
faba-154	194	15	inflation	inflation	NOUN
faba-154	194	16	.	.	PUNCT
faba-154	195	1	unfortunately	unfortunately	ADV
faba-154	195	2	,	,	PUNCT
faba-154	195	3	the	the	DET
faba-154	195	4	huge	huge	ADJ
faba-154	195	5	public	public	ADJ
faba-154	195	6	debts	debt	NOUN
faba-154	195	7	and	and	CCONJ
faba-154	195	8	pension	pension	NOUN
faba-154	195	9	liabilities	liability	NOUN
faba-154	195	10	in	in	ADP
faba-154	195	11	the	the	DET
faba-154	195	12	first	first	ADJ
faba-154	195	13	pillar	pillar	NOUN
faba-154	195	14	of	of	ADP
faba-154	195	15	the	the	DET
faba-154	195	16	pension	pension	NOUN
faba-154	195	17	systems	system	NOUN
faba-154	195	18	in	in	ADP
faba-154	195	19	almost	almost	ADV
faba-154	195	20	all	all	PRON
faba-154	195	21	countries	country	NOUN
faba-154	195	22	in	in	ADP
faba-154	195	23	europe	europe	PROPN
faba-154	195	24	make	make	VERB
faba-154	195	25	inflation	inflation	NOUN
faba-154	195	26	quite	quite	ADV
faba-154	195	27	probable	probable	ADJ
faba-154	195	28	in	in	ADP
faba-154	195	29	the	the	DET
faba-154	195	30	next	next	ADJ
faba-154	195	31	decades	decade	NOUN
faba-154	195	32	.	.	PUNCT
faba-154	196	1	from	from	ADP
faba-154	196	2	one	one	NUM
faba-154	196	3	side	side	NOUN
faba-154	196	4	,	,	PUNCT
faba-154	196	5	it	it	PRON
faba-154	196	6	will	will	AUX
faba-154	196	7	allow	allow	VERB
faba-154	196	8	financing	financing	NOUN
faba-154	196	9	of	of	ADP
faba-154	196	10	the	the	DET
faba-154	196	11	pay	pay	NOUN
faba-154	196	12	-	-	PUNCT
faba-154	196	13	as	as	ADP
faba-154	196	14	-	-	PUNCT
faba-154	196	15	you	you	PRON
faba-154	196	16	-	-	PUNCT
faba-154	196	17	go	go	VERB
faba-154	196	18	systems	system	NOUN
faba-154	196	19	easier	easy	ADJ
faba-154	196	20	but	but	CCONJ
faba-154	196	21	on	on	ADP
faba-154	196	22	the	the	DET
faba-154	196	23	other	other	ADJ
faba-154	196	24	it	it	PRON
faba-154	196	25	will	will	AUX
faba-154	196	26	ruin	ruin	VERB
faba-154	196	27	the	the	DET
faba-154	196	28	sustainability	sustainability	NOUN
faba-154	196	29	of	of	ADP
faba-154	196	30	the	the	DET
faba-154	196	31	fully	fully	ADV
faba-154	196	32	funded	fund	VERB
faba-154	196	33	pillars	pillar	NOUN
faba-154	196	34	of	of	ADP
faba-154	196	35	the	the	DET
faba-154	196	36	pension	pension	NOUN
faba-154	196	37	systems	system	NOUN
faba-154	196	38	around	around	ADP
faba-154	196	39	europe	europe	PROPN
faba-154	196	40	.	.	PUNCT
faba-154	197	1	defined	define	VERB
faba-154	197	2	contribution	contribution	NOUN
faba-154	197	3	pension	pension	NOUN
faba-154	197	4	schemes	scheme	NOUN
faba-154	197	5	can	can	AUX
faba-154	197	6	not	not	PART
faba-154	197	7	sustain	sustain	VERB
faba-154	197	8	such	such	DET
faba-154	197	9	a	a	DET
faba-154	197	10	trend	trend	NOUN
faba-154	197	11	and	and	CCONJ
faba-154	197	12	their	their	PRON
faba-154	197	13	existence	existence	NOUN
faba-154	197	14	may	may	AUX
faba-154	197	15	be	be	AUX
faba-154	197	16	called	call	VERB
faba-154	197	17	into	into	ADP
faba-154	197	18	great	great	ADJ
faba-154	197	19	question	question	NOUN
faba-154	197	20	.	.	PUNCT
faba-154	198	1	conclusion	conclusion	NOUN
faba-154	198	2	pension	pension	NOUN
faba-154	198	3	systems	system	NOUN
faba-154	198	4	around	around	ADP
faba-154	198	5	europe	europe	PROPN
faba-154	198	6	are	be	AUX
faba-154	198	7	facing	face	VERB
faba-154	198	8	big	big	ADJ
faba-154	198	9	challenges	challenge	NOUN
faba-154	198	10	in	in	ADP
faba-154	198	11	the	the	DET
faba-154	198	12	next	next	ADJ
faba-154	198	13	decades	decade	NOUN
faba-154	198	14	.	.	PUNCT
faba-154	199	1	traditionally	traditionally	ADV
faba-154	199	2	established	establish	VERB
faba-154	199	3	on	on	ADP
faba-154	199	4	a	a	DET
faba-154	199	5	pay	pay	NOUN
faba-154	199	6	-	-	PUNCT
faba-154	199	7	as	as	ADP
faba-154	199	8	-	-	PUNCT
faba-154	199	9	you	you	PRON
faba-154	199	10	-	-	PUNCT
faba-154	199	11	go	go	VERB
faba-154	199	12	principle	principle	NOUN
faba-154	199	13	,	,	PUNCT
faba-154	199	14	they	they	PRON
faba-154	199	15	must	must	AUX
faba-154	199	16	be	be	AUX
faba-154	199	17	rebuilt	rebuild	VERB
faba-154	199	18	thus	thus	ADV
faba-154	199	19	responding	respond	VERB
faba-154	199	20	to	to	ADP
faba-154	199	21	the	the	DET
faba-154	199	22	negative	negative	ADJ
faba-154	199	23	trends	trend	NOUN
faba-154	199	24	of	of	ADP
faba-154	199	25	the	the	DET
faba-154	199	26	aging	aging	NOUN
faba-154	199	27	of	of	ADP
faba-154	199	28	the	the	DET
faba-154	199	29	population	population	NOUN
faba-154	199	30	and	and	CCONJ
faba-154	199	31	the	the	DET
faba-154	199	32	deteriorating	deteriorate	VERB
faba-154	199	33	demographic	demographic	ADJ
faba-154	199	34	structures	structure	NOUN
faba-154	199	35	.	.	PUNCT
faba-154	200	1	pension	pension	NOUN
faba-154	200	2	systems	system	NOUN
faba-154	200	3	in	in	ADP
faba-154	200	4	cee	cee	PROPN
faba-154	200	5	region	region	NOUN
faba-154	200	6	are	be	AUX
faba-154	200	7	affected	affect	VERB
faba-154	200	8	even	even	ADV
faba-154	200	9	more	more	ADV
faba-154	200	10	by	by	ADP
faba-154	200	11	the	the	DET
faba-154	200	12	unfavorable	unfavorable	ADJ
faba-154	200	13	demographic	demographic	ADJ
faba-154	200	14	trends	trend	NOUN
faba-154	200	15	suffering	suffer	VERB
faba-154	200	16	additionally	additionally	ADV
faba-154	200	17	from	from	ADP
faba-154	200	18	net	net	ADJ
faba-154	200	19	emigration	emigration	NOUN
faba-154	200	20	and	and	CCONJ
faba-154	200	21	loss	loss	NOUN
faba-154	200	22	of	of	ADP
faba-154	200	23	people	people	NOUN
faba-154	200	24	in	in	ADP
faba-154	200	25	working	work	VERB
faba-154	200	26	age	age	NOUN
faba-154	200	27	.	.	PUNCT
faba-154	201	1	the	the	DET
faba-154	201	2	structural	structural	ADJ
faba-154	201	3	reforms	reform	NOUN
faba-154	201	4	made	make	VERB
faba-154	201	5	in	in	ADP
faba-154	201	6	the	the	DET
faba-154	201	7	early	early	ADJ
faba-154	201	8	2000	2000	NUM
faba-154	201	9	’s	’	VERB
faba-154	201	10	introduced	introduce	VERB
faba-154	201	11	fully	fully	ADV
faba-154	201	12	funded	fund	VERB
faba-154	201	13	defined	define	VERB
faba-154	201	14	contribution	contribution	NOUN
faba-154	201	15	pension	pension	NOUN
faba-154	201	16	schemes	scheme	NOUN
faba-154	201	17	which	which	PRON
faba-154	201	18	were	be	AUX
faba-154	201	19	considered	consider	VERB
faba-154	201	20	as	as	ADP
faba-154	201	21	important	important	ADJ
faba-154	201	22	elements	element	NOUN
faba-154	201	23	that	that	PRON
faba-154	201	24	could	could	AUX
faba-154	201	25	support	support	VERB
faba-154	201	26	the	the	DET
faba-154	201	27	pay	pay	VERB
faba-154	201	28	-	-	PUNCT
faba-154	201	29	as	as	ADP
faba-154	201	30	-	-	PUNCT
faba-154	201	31	you	you	PRON
faba-154	201	32	-	-	PUNCT
faba-154	201	33	go	go	NOUN
faba-154	201	34	systems	system	NOUN
faba-154	201	35	in	in	ADP
faba-154	201	36	the	the	DET
faba-154	201	37	long	long	ADJ
faba-154	201	38	run	run	NOUN
faba-154	201	39	.	.	PUNCT
faba-154	202	1	the	the	DET
faba-154	202	2	reports	report	NOUN
faba-154	202	3	published	publish	VERB
faba-154	202	4	by	by	ADP
faba-154	202	5	the	the	DET
faba-154	202	6	world	world	PROPN
faba-154	202	7	bank	bank	PROPN
faba-154	202	8	and	and	CCONJ
faba-154	202	9	the	the	DET
faba-154	202	10	european	european	PROPN
faba-154	202	11	commission	commission	PROPN
faba-154	202	12	in	in	ADP
faba-154	202	13	the	the	DET
faba-154	202	14	next	next	ADJ
faba-154	202	15	years	year	NOUN
faba-154	202	16	were	be	AUX
faba-154	202	17	continuing	continue	VERB
faba-154	202	18	to	to	PART
faba-154	202	19	foster	foster	VERB
faba-154	202	20	additional	additional	ADJ
faba-154	202	21	saving	saving	NOUN
faba-154	202	22	as	as	ADP
faba-154	202	23	a	a	DET
faba-154	202	24	necessary	necessary	ADJ
faba-154	202	25	tool	tool	NOUN
faba-154	202	26	for	for	ADP
faba-154	202	27	preventing	prevent	VERB
faba-154	202	28	poverty	poverty	NOUN
faba-154	202	29	in	in	ADP
faba-154	202	30	old	old	ADJ
faba-154	202	31	age	age	NOUN
faba-154	202	32	.	.	PUNCT
faba-154	203	1	however	however	ADV
faba-154	203	2	,	,	PUNCT
faba-154	203	3	due	due	ADP
faba-154	203	4	to	to	ADP
faba-154	203	5	a	a	DET
faba-154	203	6	variety	variety	NOUN
faba-154	203	7	of	of	ADP
faba-154	203	8	reasons	reason	NOUN
faba-154	203	9	many	many	ADJ
faba-154	203	10	of	of	ADP
faba-154	203	11	the	the	DET
faba-154	203	12	cee	cee	NOUN
faba-154	203	13	countries	country	NOUN
faba-154	203	14	started	start	VERB
faba-154	203	15	to	to	PART
faba-154	203	16	delay	delay	VERB
faba-154	203	17	some	some	DET
faba-154	203	18	additional	additional	ADJ
faba-154	203	19	changes	change	NOUN
faba-154	203	20	in	in	ADP
faba-154	203	21	their	their	PRON
faba-154	203	22	second	second	ADJ
faba-154	203	23	pillars	pillar	NOUN
faba-154	203	24	and	and	CCONJ
faba-154	203	25	even	even	ADV
faba-154	203	26	to	to	PART
faba-154	203	27	reverse	reverse	VERB
faba-154	203	28	already	already	ADV
faba-154	203	29	accomplished	accomplish	VERB
faba-154	203	30	reforms	reform	NOUN
faba-154	203	31	.	.	PUNCT
faba-154	204	1	the	the	DET
faba-154	204	2	support	support	NOUN
faba-154	204	3	for	for	ADP
faba-154	204	4	the	the	DET
faba-154	204	5	fully	fully	ADV
faba-154	204	6	funded	fund	VERB
faba-154	204	7	schemes	scheme	NOUN
faba-154	204	8	should	should	AUX
faba-154	204	9	be	be	AUX
faba-154	204	10	a	a	DET
faba-154	204	11	prolonged	prolonged	ADJ
faba-154	204	12	effort	effort	NOUN
faba-154	204	13	.	.	PUNCT
faba-154	205	1	the	the	DET
faba-154	205	2	most	most	ADV
faba-154	205	3	sustainable	sustainable	ADJ
faba-154	205	4	and	and	CCONJ
faba-154	205	5	adequate	adequate	ADJ
faba-154	205	6	pension	pension	NOUN
faba-154	205	7	systems	system	NOUN
faba-154	205	8	around	around	ADP
faba-154	205	9	the	the	DET
faba-154	205	10	world	world	NOUN
faba-154	205	11	continue	continue	VERB
faba-154	205	12	to	to	PART
faba-154	205	13	be	be	AUX
faba-154	205	14	the	the	DET
faba-154	205	15	ones	one	NOUN
faba-154	205	16	with	with	ADP
faba-154	205	17	robust	robust	ADJ
faba-154	205	18	funded	fund	VERB
faba-154	205	19	component	component	NOUN
faba-154	205	20	.	.	PUNCT
faba-154	206	1	so	so	ADV
faba-154	206	2	,	,	PUNCT
faba-154	206	3	the	the	DET
faba-154	206	4	pension	pension	NOUN
faba-154	206	5	insurance	insurance	NOUN
faba-154	206	6	built	build	VERB
faba-154	206	7	on	on	ADP
faba-154	206	8	a	a	DET
faba-154	206	9	capital	capital	NOUN
faba-154	206	10	principle	principle	NOUN
faba-154	206	11	must	must	AUX
faba-154	206	12	not	not	PART
faba-154	206	13	be	be	AUX
faba-154	206	14	left	leave	VERB
faba-154	206	15	behind	behind	ADV
faba-154	206	16	but	but	CCONJ
faba-154	206	17	additionally	additionally	ADV
faba-154	206	18	strengthened	strengthen	VERB
faba-154	206	19	with	with	ADP
faba-154	206	20	important	important	ADJ
faba-154	206	21	reforms	reform	NOUN
faba-154	206	22	that	that	PRON
faba-154	206	23	could	could	AUX
faba-154	206	24	mitigate	mitigate	VERB
faba-154	206	25	some	some	PRON
faba-154	206	26	of	of	ADP
faba-154	206	27	the	the	DET
faba-154	206	28	risks	risk	NOUN
faba-154	206	29	that	that	PRON
faba-154	206	30	appeared	appear	VERB
faba-154	206	31	in	in	ADP
faba-154	206	32	the	the	DET
faba-154	206	33	last	last	ADJ
faba-154	206	34	years	year	NOUN
faba-154	206	35	.	.	PUNCT
faba-154	207	1	first	first	ADV
faba-154	207	2	,	,	PUNCT
faba-154	207	3	pension	pension	NOUN
faba-154	207	4	funds	fund	NOUN
faba-154	207	5	must	must	AUX
faba-154	207	6	be	be	AUX
faba-154	207	7	allowed	allow	VERB
faba-154	207	8	to	to	PART
faba-154	207	9	structure	structure	VERB
faba-154	207	10	portfolios	portfolio	NOUN
faba-154	207	11	with	with	ADP
faba-154	207	12	different	different	ADJ
faba-154	207	13	risk	risk	NOUN
faba-154	207	14	profile	profile	NOUN
faba-154	207	15	thus	thus	ADV
faba-154	207	16	addressing	address	VERB
faba-154	207	17	both	both	CCONJ
faba-154	207	18	the	the	DET
faba-154	207	19	inflation	inflation	NOUN
faba-154	207	20	risk	risk	NOUN
faba-154	207	21	which	which	PRON
faba-154	207	22	is	be	AUX
faba-154	207	23	the	the	DET
faba-154	207	24	most	most	ADV
faba-154	207	25	important	important	ADJ
faba-154	207	26	risk	risk	NOUN
faba-154	207	27	for	for	ADP
faba-154	207	28	those	those	DET
faba-154	207	29	individuals	individual	NOUN
faba-154	207	30	with	with	ADP
faba-154	207	31	long	long	ADJ
faba-154	207	32	investment	investment	NOUN
faba-154	207	33	horizon	horizon	NOUN
faba-154	207	34	and	and	CCONJ
faba-154	207	35	asset	asset	NOUN
faba-154	207	36	price	price	NOUN
faba-154	207	37	risk	risk	NOUN
faba-154	207	38	for	for	ADP
faba-154	207	39	those	those	DET
faba-154	207	40	individuals	individual	NOUN
faba-154	207	41	who	who	PRON
faba-154	207	42	are	be	AUX
faba-154	207	43	close	close	ADJ
faba-154	207	44	to	to	ADP
faba-154	207	45	the	the	DET
faba-154	207	46	date	date	NOUN
faba-154	207	47	of	of	ADP
faba-154	207	48	their	their	PRON
faba-154	207	49	retirement	retirement	NOUN
faba-154	207	50	.	.	PUNCT
faba-154	208	1	second	second	ADJ
faba-154	208	2	,	,	PUNCT
faba-154	208	3	regulators	regulator	NOUN
faba-154	208	4	need	need	VERB
faba-154	208	5	to	to	PART
faba-154	208	6	keep	keep	VERB
faba-154	208	7	different	different	ADJ
faba-154	208	8	types	type	NOUN
faba-154	208	9	of	of	ADP
faba-154	208	10	fees	fee	NOUN
faba-154	208	11	charged	charge	VERB
faba-154	208	12	by	by	ADP
faba-154	208	13	the	the	DET
faba-154	208	14	managing	manage	VERB
faba-154	208	15	companies	company	NOUN
faba-154	208	16	as	as	ADV
faba-154	208	17	low	low	ADJ
faba-154	208	18	as	as	ADP
faba-154	208	19	possible	possible	ADJ
faba-154	208	20	,	,	PUNCT
faba-154	208	21	because	because	SCONJ
faba-154	208	22	they	they	PRON
faba-154	208	23	can	can	AUX
faba-154	208	24	significantly	significantly	ADV
faba-154	208	25	affect	affect	VERB
faba-154	208	26	the	the	DET
faba-154	208	27	amount	amount	NOUN
faba-154	208	28	accumulated	accumulate	VERB
faba-154	208	29	in	in	ADP
faba-154	208	30	the	the	DET
faba-154	208	31	individuals	individual	NOUN
faba-154	208	32	’	'	PUNCT
faba-154	208	33	accounts	account	NOUN
faba-154	208	34	towards	towards	ADP
faba-154	208	35	the	the	DET
faba-154	208	36	date	date	NOUN
faba-154	208	37	of	of	ADP
faba-154	208	38	retirement	retirement	NOUN
faba-154	208	39	.	.	PUNCT
faba-154	209	1	third	third	ADV
faba-154	209	2	,	,	PUNCT
faba-154	209	3	those	those	DET
faba-154	209	4	individuals	individual	NOUN
faba-154	209	5	who	who	PRON
faba-154	209	6	were	be	AUX
faba-154	209	7	not	not	PART
faba-154	209	8	able	able	ADJ
faba-154	209	9	to	to	PART
faba-154	209	10	accumulate	accumulate	VERB
faba-154	209	11	enough	enough	ADJ
faba-154	209	12	resources	resource	NOUN
faba-154	209	13	to	to	PART
faba-154	209	14	fund	fund	VERB
faba-154	209	15	their	their	PRON
faba-154	209	16	retirement	retirement	NOUN
faba-154	209	17	must	must	AUX
faba-154	209	18	not	not	PART
faba-154	209	19	serve	serve	VERB
faba-154	209	20	as	as	ADP
faba-154	209	21	an	an	DET
faba-154	209	22	argument	argument	NOUN
faba-154	209	23	to	to	PART
faba-154	209	24	implement	implement	VERB
faba-154	209	25	some	some	DET
faba-154	209	26	type	type	NOUN
faba-154	209	27	of	of	ADP
faba-154	209	28	“	"	PUNCT
faba-154	209	29	reversal	reversal	NOUN
faba-154	209	30	”	"	PUNCT
faba-154	209	31	reform	reform	NOUN
faba-154	209	32	.	.	PUNCT
faba-154	210	1	governments	government	NOUN
faba-154	210	2	should	should	AUX
faba-154	210	3	have	have	VERB
faba-154	210	4	continuous	continuous	ADJ
faba-154	210	5	policy	policy	NOUN
faba-154	210	6	to	to	PART
faba-154	210	7	reduce	reduce	VERB
faba-154	210	8	the	the	DET
faba-154	210	9	scale	scale	NOUN
faba-154	210	10	of	of	ADP
faba-154	210	11	this	this	DET
faba-154	210	12	group	group	NOUN
faba-154	210	13	by	by	ADP
faba-154	210	14	incentivizing	incentivize	VERB
faba-154	210	15	individuals	individual	NOUN
faba-154	210	16	to	to	PART
faba-154	210	17	save	save	VERB
faba-154	210	18	additionally	additionally	ADV
faba-154	210	19	for	for	ADP
faba-154	210	20	their	their	PRON
faba-154	210	21	retirement	retirement	NOUN
faba-154	210	22	.	.	PUNCT
faba-154	211	1	this	this	PRON
faba-154	211	2	is	be	AUX
faba-154	211	3	the	the	DET
faba-154	211	4	only	only	ADJ
faba-154	211	5	sustainable	sustainable	ADJ
faba-154	211	6	approach	approach	NOUN
faba-154	211	7	to	to	PART
faba-154	211	8	address	address	VERB
faba-154	211	9	the	the	DET
faba-154	211	10	negative	negative	ADJ
faba-154	211	11	demographic	demographic	ADJ
faba-154	211	12	trends	trend	NOUN
faba-154	211	13	and	and	CCONJ
faba-154	211	14	to	to	PART
faba-154	211	15	mitigate	mitigate	VERB
faba-154	211	16	the	the	DET
faba-154	211	17	expected	expect	VERB
faba-154	211	18	hit	hit	NOUN
faba-154	211	19	over	over	ADP
faba-154	211	20	the	the	DET
faba-154	211	21	pay	pay	NOUN
faba-154	211	22	-	-	PUNCT
faba-154	211	23	as	as	ADP
faba-154	211	24	-	-	PUNCT
faba-154	211	25	you	you	PRON
faba-154	211	26	-	-	PUNCT
faba-154	211	27	go	go	VERB
faba-154	211	28	pension	pension	NOUN
faba-154	211	29	systems	system	NOUN
faba-154	211	30	in	in	ADP
faba-154	211	31	the	the	DET
faba-154	211	32	next	next	ADJ
faba-154	211	33	decades	decade	NOUN
faba-154	211	34	caused	cause	VERB
faba-154	211	35	by	by	ADP
faba-154	211	36	the	the	DET
faba-154	211	37	aging	aging	NOUN
faba-154	211	38	of	of	ADP
faba-154	211	39	the	the	DET
faba-154	211	40	population	population	NOUN
faba-154	211	41	.	.	PUNCT
faba-154	212	1	references	reference	NOUN
faba-154	212	2	aaron	aaron	PROPN
faba-154	212	3	,	,	PUNCT
faba-154	212	4	h.	h.	PROPN
faba-154	212	5	1966	1966	NUM
faba-154	212	6	.	.	PUNCT
faba-154	213	1	the	the	DET
faba-154	213	2	social	social	ADJ
faba-154	213	3	insurance	insurance	NOUN
faba-154	213	4	paradox	paradox	NOUN
faba-154	213	5	.	.	PUNCT
faba-154	214	1	the	the	DET
faba-154	214	2	canadian	canadian	ADJ
faba-154	214	3	journal	journal	NOUN
faba-154	214	4	of	of	ADP
faba-154	214	5	economics	economic	NOUN
faba-154	214	6	and	and	CCONJ
faba-154	214	7	political	political	ADJ
faba-154	214	8	science	science	NOUN
faba-154	214	9	,	,	PUNCT
faba-154	214	10	(	(	PUNCT
faba-154	214	11	32	32	NUM
faba-154	214	12	)	)	PUNCT
faba-154	214	13	,	,	PUNCT
faba-154	214	14	p.	p.	NOUN
faba-154	214	15	371	371	NUM
faba-154	214	16	-	-	SYM
faba-154	214	17	374	374	NUM
faba-154	214	18	.	.	PUNCT
faba-154	215	1	bejakovic	bejakovic	VERB
faba-154	215	2	,	,	PUNCT
faba-154	215	3	p.	p.	NOUN
faba-154	215	4	2019	2019	NUM
faba-154	215	5	.	.	PUNCT
faba-154	216	1	‘	'	PUNCT
faba-154	216	2	the	the	DET
faba-154	216	3	croatian	croatian	ADJ
faba-154	216	4	pension	pension	NOUN
faba-154	216	5	system	system	NOUN
faba-154	216	6	and	and	CCONJ
faba-154	216	7	challenges	challenge	NOUN
faba-154	216	8	of	of	ADP
faba-154	216	9	pension	pension	NOUN
faba-154	216	10	policy	policy	NOUN
faba-154	216	11	’	'	PUNCT
faba-154	216	12	.	.	PUNCT
faba-154	217	1	in	in	ADP
faba-154	217	2	petak	petak	PROPN
faba-154	217	3	,	,	PUNCT
faba-154	217	4	z.	z.	PROPN
faba-154	217	5	,	,	PUNCT
faba-154	217	6	kotarski	kotarski	PROPN
faba-154	217	7	,	,	PUNCT
faba-154	217	8	k.	k.	PROPN
faba-154	217	9	(	(	PUNCT
faba-154	217	10	ed	ed	NOUN
faba-154	217	11	.	.	PUNCT
faba-154	217	12	)	)	PUNCT
faba-154	218	1	policy	policy	NOUN
faba-154	218	2	-	-	PUNCT
faba-154	218	3	making	making	NOUN
faba-154	218	4	at	at	ADP
faba-154	218	5	the	the	DET
faba-154	218	6	european	european	PROPN
faba-154	218	7	periphery	periphery	PROPN
faba-154	218	8	.	.	PUNCT
faba-154	219	1	the	the	DET
faba-154	219	2	case	case	NOUN
faba-154	219	3	of	of	ADP
faba-154	219	4	croatia	croatia	PROPN
faba-154	219	5	.	.	PUNCT
faba-154	220	1	pallgrave	pallgrave	PROPN
faba-154	220	2	macmillan	macmillan	PROPN
faba-154	220	3	,	,	PUNCT
faba-154	220	4	p.	p.	NOUN
faba-154	220	5	229	229	NUM
faba-154	220	6	-	-	SYM
faba-154	220	7	245	245	NUM
faba-154	220	8	.	.	PUNCT
faba-154	221	1	bielawska	bielawska	PROPN
faba-154	221	2	,	,	PUNCT
faba-154	221	3	k.	k.	PROPN
faba-154	221	4	2013	2013	NUM
faba-154	221	5	.	.	PUNCT
faba-154	222	1	the	the	DET
faba-154	222	2	impact	impact	NOUN
faba-154	222	3	of	of	ADP
faba-154	222	4	the	the	DET
faba-154	222	5	fiscal	fiscal	ADJ
faba-154	222	6	situation	situation	NOUN
faba-154	222	7	on	on	ADP
faba-154	222	8	retreat	retreat	NOUN
faba-154	222	9	from	from	ADP
faba-154	222	10	the	the	DET
faba-154	222	11	mandatory	mandatory	ADJ
faba-154	222	12	pension	pension	NOUN
faba-154	222	13	funds	fund	NOUN
faba-154	222	14	in	in	ADP
faba-154	222	15	the	the	DET
faba-154	222	16	countries	country	NOUN
faba-154	222	17	of	of	ADP
faba-154	222	18	central	central	ADJ
faba-154	222	19	and	and	CCONJ
faba-154	222	20	eastern	eastern	ADJ
faba-154	222	21	europe	europe	PROPN
faba-154	222	22	:	:	PUNCT
faba-154	222	23	the	the	DET
faba-154	222	24	case	case	NOUN
faba-154	222	25	study	study	NOUN
faba-154	222	26	of	of	ADP
faba-154	222	27	hungary	hungary	PROPN
faba-154	222	28	and	and	CCONJ
faba-154	222	29	poland	poland	PROPN
faba-154	222	30	:	:	PUNCT
faba-154	222	31	publishing	publish	VERB
faba-154	222	32	house	house	NOUN
faba-154	222	33	of	of	ADP
faba-154	222	34	put	put	PROPN
faba-154	222	35	.	.	PUNCT
faba-154	223	1	bielawska	bielawska	PROPN
faba-154	223	2	,	,	PUNCT
faba-154	223	3	k.	k.	PROPN
faba-154	223	4	2015	2015	NUM
faba-154	223	5	.	.	PUNCT
faba-154	224	1	pension	pension	NOUN
faba-154	224	2	reforms	reform	NOUN
faba-154	224	3	and	and	CCONJ
faba-154	224	4	long	long	ADJ
faba-154	224	5	-	-	PUNCT
faba-154	224	6	term	term	NOUN
faba-154	224	7	sustainability	sustainability	NOUN
faba-154	224	8	of	of	ADP
faba-154	224	9	public	public	ADJ
faba-154	224	10	finances	finance	NOUN
faba-154	224	11	of	of	ADP
faba-154	224	12	the	the	DET
faba-154	224	13	central	central	ADJ
faba-154	224	14	and	and	CCONJ
faba-154	224	15	eastern	eastern	ADJ
faba-154	224	16	european	european	ADJ
faba-154	224	17	countries	country	NOUN
faba-154	224	18	:	:	PUNCT
faba-154	224	19	publishing	publish	VERB
faba-154	224	20	house	house	NOUN
faba-154	224	21	of	of	ADP
faba-154	224	22	put	put	PROPN
faba-154	224	23	.	.	PUNCT
faba-154	225	1	blake	blake	PROPN
faba-154	225	2	,	,	PUNCT
faba-154	225	3	d.	d.	PROPN
faba-154	225	4	2006	2006	NUM
faba-154	225	5	.	.	PUNCT
faba-154	226	1	pension	pension	NOUN
faba-154	226	2	finance	finance	NOUN
faba-154	226	3	.	.	PUNCT
faba-154	227	1	uk	uk	PROPN
faba-154	227	2	:	:	PUNCT
faba-154	227	3	john	john	PROPN
faba-154	227	4	willey	willey	PROPN
faba-154	227	5	&	&	CCONJ
faba-154	227	6	sons	sons	PROPN
faba-154	227	7	ltd	ltd	PROPN
faba-154	227	8	.	.	PROPN
faba-154	227	9	daneva	daneva	PROPN
faba-154	227	10	,	,	PUNCT
faba-154	227	11	i.	i.	PROPN
faba-154	227	12	2018	2018	NUM
faba-154	227	13	.	.	PUNCT
faba-154	228	1	osiguriavane	osiguriavane	PROPN
faba-154	228	2	i	i	PRON
faba-154	228	3	osiguritelen	osiguritelen	PROPN
faba-154	228	4	pazar	pazar	PROPN
faba-154	228	5	[	[	X
faba-154	228	6	insurance	insurance	NOUN
faba-154	228	7	and	and	CCONJ
faba-154	228	8	insurance	insurance	NOUN
faba-154	228	9	market	market	NOUN
faba-154	228	10	]	]	PUNCT
faba-154	228	11	:	:	PUNCT
faba-154	228	12	publishing	publish	VERB
faba-154	228	13	house	house	PROPN
faba-154	228	14	of	of	ADP
faba-154	228	15	nbu	nbu	PROPN
faba-154	228	16	,	,	PUNCT
faba-154	228	17	sofia	sofia	PROPN
faba-154	228	18	.	.	PUNCT
faba-154	229	1	davis	davis	PROPN
faba-154	229	2	,	,	PUNCT
faba-154	229	3	e.	e.	PROPN
faba-154	229	4	p.	p.	PROPN
faba-154	229	5	1995	1995	NUM
faba-154	229	6	.	.	PUNCT
faba-154	230	1	pension	pension	NOUN
faba-154	230	2	funds	fund	NOUN
faba-154	230	3	retirement	retirement	PROPN
faba-154	230	4	income	income	NOUN
faba-154	230	5	security	security	NOUN
faba-154	230	6	and	and	CCONJ
faba-154	230	7	capital	capital	NOUN
faba-154	230	8	markets	market	NOUN
faba-154	230	9	.	.	PUNCT
faba-154	231	1	an	an	DET
faba-154	231	2	international	international	ADJ
faba-154	231	3	perspective	perspective	NOUN
faba-154	231	4	.	.	PUNCT
faba-154	232	1	uk	uk	PROPN
faba-154	232	2	:	:	PUNCT
faba-154	232	3	oxford	oxford	PROPN
faba-154	232	4	university	university	PROPN
faba-154	232	5	press	press	NOUN
faba-154	232	6	.	.	PUNCT
faba-154	233	1	european	european	PROPN
faba-154	233	2	central	central	PROPN
faba-154	233	3	bank	bank	PROPN
faba-154	233	4	.	.	PUNCT
faba-154	234	1	online	online	ADJ
faba-154	234	2	:	:	PUNCT
faba-154	235	1	[	[	X
faba-154	235	2	www.ecb.europa.eu	www.ecb.europa.eu	NOUN
faba-154	235	3	]	]	PUNCT
faba-154	235	4	.	.	PUNCT
faba-154	235	5	european	european	PROPN
faba-154	235	6	commission	commission	PROPN
faba-154	235	7	.	.	PUNCT
faba-154	236	1	2010	2010	NUM
faba-154	236	2	.	.	PUNCT
faba-154	237	1	towards	towards	ADP
faba-154	237	2	adequate	adequate	ADJ
faba-154	237	3	,	,	PUNCT
faba-154	237	4	sustainable	sustainable	ADJ
faba-154	237	5	and	and	CCONJ
faba-154	237	6	safe	safe	ADJ
faba-154	237	7	european	european	ADJ
faba-154	237	8	pension	pension	NOUN
faba-154	237	9	systems	system	NOUN
faba-154	237	10	(	(	PUNCT
faba-154	237	11	green	green	ADJ
faba-154	237	12	paper	paper	NOUN
faba-154	237	13	)	)	PUNCT
faba-154	237	14	.	.	PUNCT
faba-154	238	1	12	12	NUM
faba-154	238	2	2022	2022	NUM
faba-154	238	3	inflation	inflation	NOUN
faba-154	238	4	rate	rate	NOUN
faba-154	238	5	in	in	ADP
faba-154	238	6	bulgaria	bulgaria	PROPN
faba-154	238	7	is	be	AUX
faba-154	238	8	13	13	NUM
faba-154	238	9	%	%	NOUN
faba-154	238	10	http://www.ecb.europa.eu/	http://www.ecb.europa.eu/	NOUN
faba-154	238	11	jeko	jeko	NOUN
faba-154	238	12	milev	milev	NOUN
faba-154	238	13	/	/	SYM
faba-154	238	14	finance	finance	NOUN
faba-154	238	15	,	,	PUNCT
faba-154	238	16	accounting	accounting	NOUN
faba-154	238	17	and	and	CCONJ
faba-154	238	18	business	business	NOUN
faba-154	238	19	analysis	analysis	NOUN
faba-154	238	20	,	,	PUNCT
faba-154	238	21	volume	volume	NOUN
faba-154	238	22	5	5	NUM
faba-154	238	23	,	,	PUNCT
faba-154	238	24	issue	issue	NOUN
faba-154	238	25	1	1	NUM
faba-154	238	26	,	,	PUNCT
faba-154	238	27	2023	2023	NUM
faba-154	238	28	78	78	NUM
faba-154	238	29	european	european	PROPN
faba-154	238	30	commission	commission	PROPN
faba-154	238	31	.	.	PUNCT
faba-154	239	1	2012	2012	NUM
faba-154	239	2	.	.	PUNCT
faba-154	240	1	an	an	DET
faba-154	240	2	agenda	agenda	NOUN
faba-154	240	3	for	for	ADP
faba-154	240	4	adequate	adequate	ADJ
faba-154	240	5	,	,	PUNCT
faba-154	240	6	safe	safe	ADJ
faba-154	240	7	and	and	CCONJ
faba-154	240	8	sustainable	sustainable	ADJ
faba-154	240	9	pensions	pension	NOUN
faba-154	240	10	(	(	PUNCT
faba-154	240	11	white	white	ADJ
faba-154	240	12	paper	paper	NOUN
faba-154	240	13	)	)	PUNCT
faba-154	240	14	.	.	PUNCT
faba-154	241	1	european	european	PROPN
faba-154	241	2	commission	commission	PROPN
faba-154	241	3	.	.	PUNCT
faba-154	242	1	2018	2018	NUM
faba-154	242	2	.	.	PUNCT
faba-154	243	1	pension	pension	NOUN
faba-154	243	2	adequacy	adequacy	NOUN
faba-154	243	3	report	report	NOUN
faba-154	243	4	:	:	PUNCT
faba-154	243	5	current	current	ADJ
faba-154	243	6	and	and	CCONJ
faba-154	243	7	future	future	ADJ
faba-154	243	8	income	income	NOUN
faba-154	243	9	adequacy	adequacy	NOUN
faba-154	243	10	in	in	ADP
faba-154	243	11	old	old	ADJ
faba-154	243	12	age	age	NOUN
faba-154	243	13	in	in	ADP
faba-154	243	14	the	the	DET
faba-154	243	15	eu	eu	PROPN
faba-154	243	16	.	.	PROPN
faba-154	243	17	european	european	PROPN
faba-154	243	18	commission	commission	PROPN
faba-154	243	19	.	.	PUNCT
faba-154	244	1	2021a	2021a	NUM
faba-154	244	2	.	.	PUNCT
faba-154	245	1	pension	pension	NOUN
faba-154	245	2	adequacy	adequacy	NOUN
faba-154	245	3	report	report	NOUN
faba-154	245	4	:	:	PUNCT
faba-154	245	5	current	current	ADJ
faba-154	245	6	and	and	CCONJ
faba-154	245	7	future	future	ADJ
faba-154	245	8	income	income	NOUN
faba-154	245	9	adequacy	adequacy	NOUN
faba-154	245	10	in	in	ADP
faba-154	245	11	old	old	ADJ
faba-154	245	12	age	age	NOUN
faba-154	245	13	in	in	ADP
faba-154	245	14	the	the	DET
faba-154	245	15	eu	eu	PROPN
faba-154	245	16	.	.	PROPN
faba-154	245	17	european	european	PROPN
faba-154	245	18	commission	commission	PROPN
faba-154	245	19	.	.	PUNCT
faba-154	246	1	2021b	2021b	NUM
faba-154	246	2	.	.	PUNCT
faba-154	247	1	the	the	DET
faba-154	247	2	2021	2021	NUM
faba-154	247	3	aging	age	VERB
faba-154	247	4	report	report	NOUN
faba-154	247	5	.	.	PUNCT
faba-154	248	1	economic	economic	ADJ
faba-154	248	2	and	and	CCONJ
faba-154	248	3	budgetary	budgetary	ADJ
faba-154	248	4	projections	projection	NOUN
faba-154	248	5	for	for	ADP
faba-154	248	6	the	the	DET
faba-154	248	7	eu	eu	PROPN
faba-154	248	8	member	member	PROPN
faba-154	248	9	states	state	NOUN
faba-154	248	10	(	(	PUNCT
faba-154	248	11	2019	2019	NUM
faba-154	248	12	–	–	PUNCT
faba-154	248	13	2070	2070	NUM
faba-154	248	14	)	)	PUNCT
faba-154	248	15	.	.	PUNCT
faba-154	249	1	eurostat	eurostat	PROPN
faba-154	249	2	.	.	PUNCT
faba-154	250	1	online	online	PROPN
faba-154	250	2	:	:	PUNCT
faba-154	251	1	[	[	X
faba-154	251	2	https://ec.europa.eu/eurostat	https://ec.europa.eu/eurostat	NOUN
faba-154	251	3	]	]	PUNCT
faba-154	251	4	.	.	PUNCT
faba-154	252	1	federal	federal	PROPN
faba-154	252	2	reserve	reserve	PROPN
faba-154	252	3	board	board	PROPN
faba-154	252	4	.	.	PUNCT
faba-154	253	1	online	online	ADJ
faba-154	253	2	:	:	PUNCT
faba-154	254	1	[	[	X
faba-154	254	2	www.federalreserve.gov	www.federalreserve.gov	X
faba-154	254	3	]	]	PUNCT
faba-154	254	4	.	.	PUNCT
faba-154	255	1	gochev	gochev	PROPN
faba-154	255	2	g.	g.	PROPN
faba-154	255	3	,	,	PUNCT
faba-154	255	4	and	and	CCONJ
faba-154	255	5	b.	b.	PROPN
faba-154	255	6	manov	manov	PROPN
faba-154	255	7	.	.	PUNCT
faba-154	255	8	2003	2003	NUM
faba-154	255	9	.	.	PUNCT
faba-154	256	1	socialno	socialno	PROPN
faba-154	256	2	osiguriavane	osiguriavane	PROPN
faba-154	256	3	–	–	PUNCT
faba-154	256	4	teoria	teoria	NUM
faba-154	256	5	i	i	PRON
faba-154	256	6	praktika	praktika	NOUN
faba-154	257	1	[	[	PUNCT
faba-154	257	2	social	social	ADJ
faba-154	257	3	security	security	NOUN
faba-154	257	4	–	–	PUNCT
faba-154	257	5	theory	theory	NOUN
faba-154	257	6	and	and	CCONJ
faba-154	257	7	practice	practice	NOUN
faba-154	257	8	]	]	PUNCT
faba-154	257	9	:	:	PUNCT
faba-154	257	10	publishing	publish	VERB
faba-154	257	11	house	house	NOUN
faba-154	257	12	of	of	ADP
faba-154	257	13	trakia	trakia	PROPN
faba-154	257	14	m	m	PROPN
faba-154	257	15	,	,	PUNCT
faba-154	257	16	bulgaria	bulgaria	PROPN
faba-154	257	17	.	.	PUNCT
faba-154	258	1	kirov	kirov	PROPN
faba-154	258	2	,	,	PUNCT
faba-154	258	3	st	st	PROPN
faba-154	258	4	.	.	PROPN
faba-154	258	5	2010	2010	NUM
faba-154	258	6	.	.	PUNCT
faba-154	259	1	chastnite	chastnite	PROPN
faba-154	259	2	pensionni	pensionni	PROPN
faba-154	259	3	shemi	shemi	PROPN
faba-154	260	1	[	[	X
faba-154	260	2	private	private	ADJ
faba-154	260	3	pension	pension	NOUN
faba-154	260	4	schemes	scheme	NOUN
faba-154	260	5	]	]	PUNCT
faba-154	260	6	:	:	PUNCT
faba-154	260	7	publishing	publish	VERB
faba-154	260	8	house	house	NOUN
faba-154	260	9	:	:	PUNCT
faba-154	260	10	faber	faber	PROPN
faba-154	260	11	.	.	PUNCT
faba-154	261	1	mercer	mercer	PROPN
faba-154	261	2	&	&	CCONJ
faba-154	261	3	cfa	cfa	PROPN
faba-154	261	4	institute	institute	PROPN
faba-154	261	5	.	.	PUNCT
faba-154	262	1	2022	2022	NUM
faba-154	262	2	.	.	PUNCT
faba-154	263	1	global	global	ADJ
faba-154	263	2	pension	pension	NOUN
faba-154	263	3	index	index	NOUN
faba-154	263	4	.	.	PUNCT
faba-154	264	1	milev	milev	PROPN
faba-154	264	2	,	,	PUNCT
faba-154	264	3	j.	j.	PROPN
faba-154	264	4	2014	2014	NUM
faba-154	264	5	.	.	PUNCT
faba-154	265	1	riskovete	riskovete	ADJ
faba-154	265	2	pred	pred	PROPN
faba-154	265	3	osigurenite	osigurenite	PROPN
faba-154	265	4	lica	lica	PROPN
faba-154	265	5	v	v	PROPN
faba-154	265	6	universalni	universalni	ADJ
faba-154	265	7	pensionni	pensionni	PROPN
faba-154	265	8	fondove	fondove	NOUN
faba-154	265	9	–	–	PUNCT
faba-154	265	10	predizvikatelstva	predizvikatelstva	NOUN
faba-154	266	1	i	i	PRON
faba-154	266	2	reshenia	reshenia	NOUN
faba-154	267	1	[	[	X
faba-154	267	2	the	the	DET
faba-154	267	3	risks	risk	NOUN
faba-154	267	4	for	for	ADP
faba-154	267	5	the	the	DET
faba-154	267	6	insured	insure	VERB
faba-154	267	7	persons	person	NOUN
faba-154	267	8	in	in	ADP
faba-154	267	9	universal	universal	ADJ
faba-154	267	10	pension	pension	NOUN
faba-154	267	11	funds	fund	NOUN
faba-154	267	12	–	–	PUNCT
faba-154	267	13	challenges	challenge	NOUN
faba-154	267	14	and	and	CCONJ
faba-154	267	15	solutions	solution	NOUN
faba-154	267	16	]	]	PUNCT
faba-154	267	17	,	,	PUNCT
faba-154	267	18	publishing	publish	VERB
faba-154	267	19	house	house	NOUN
faba-154	267	20	:	:	PUNCT
faba-154	267	21	unwe	unwe	NOUN
faba-154	267	22	.	.	PUNCT
faba-154	268	1	oecd	oecd	PROPN
faba-154	268	2	.	.	PROPN
faba-154	268	3	2004	2004	NUM
faba-154	268	4	.	.	PUNCT
faba-154	269	1	pension	pension	NOUN
faba-154	269	2	reforms	reform	NOUN
faba-154	269	3	in	in	ADP
faba-154	269	4	the	the	DET
faba-154	269	5	baltic	baltic	ADJ
faba-154	269	6	countries	country	NOUN
faba-154	269	7	.	.	PUNCT
faba-154	270	1	oecd	oecd	PROPN
faba-154	270	2	.	.	PROPN
faba-154	270	3	2008	2008	NUM
faba-154	270	4	.	.	PUNCT
faba-154	271	1	private	private	ADJ
faba-154	271	2	pensions	pension	NOUN
faba-154	271	3	outlook	outlook	NOUN
faba-154	271	4	.	.	PUNCT
faba-154	272	1	pandurska	pandurska	PROPN
faba-154	272	2	,	,	PUNCT
faba-154	272	3	r.	r.	PROPN
faba-154	272	4	202	202	NUM
faba-154	272	5	.	.	PUNCT
faba-154	273	1	kliuchovi	kliuchovi	PROPN
faba-154	273	2	aspekti	aspekti	PROPN
faba-154	274	1	i	i	PRON
faba-154	274	2	predizvikatelstva	predizvikatelstva	VERB
faba-154	274	3	pred	pre	VERB
faba-154	274	4	razvitieto	razvitieto	NOUN
faba-154	274	5	na	na	ADP
faba-154	274	6	pensionnata	pensionnata	PROPN
faba-154	274	7	sistema	sistema	NOUN
faba-154	274	8	v	v	ADP
faba-154	274	9	bulgaria	bulgaria	PROPN
faba-154	274	10	[	[	X
faba-154	274	11	key	key	ADJ
faba-154	274	12	aspects	aspect	NOUN
faba-154	274	13	and	and	CCONJ
faba-154	274	14	challenges	challenge	NOUN
faba-154	274	15	in	in	ADP
faba-154	274	16	front	front	NOUN
faba-154	274	17	of	of	ADP
faba-154	274	18	the	the	DET
faba-154	274	19	pension	pension	NOUN
faba-154	274	20	system	system	NOUN
faba-154	274	21	in	in	ADP
faba-154	274	22	bulgaria	bulgaria	PROPN
faba-154	274	23	:	:	PUNCT
faba-154	274	24	publishing	publish	VERB
faba-154	274	25	house	house	NOUN
faba-154	274	26	:	:	PUNCT
faba-154	274	27	unwe	unwe	PROPN
faba-154	274	28	,	,	PUNCT
faba-154	274	29	sofia	sofia	PROPN
faba-154	274	30	.	.	PUNCT
faba-154	275	1	price	price	PROPN
faba-154	275	2	,	,	PUNCT
faba-154	275	3	w.	w.	PROPN
faba-154	275	4	,	,	PUNCT
faba-154	275	5	and	and	CCONJ
faba-154	275	6	r.	r.	PROPN
faba-154	275	7	rudolph	rudolph	PROPN
faba-154	275	8	.	.	PUNCT
faba-154	276	1	2013	2013	NUM
faba-154	276	2	.	.	PUNCT
faba-154	277	1	reversal	reversal	NOUN
faba-154	277	2	and	and	CCONJ
faba-154	277	3	reduction	reduction	NOUN
faba-154	277	4	,	,	PUNCT
faba-154	277	5	resolution	resolution	NOUN
faba-154	277	6	and	and	CCONJ
faba-154	277	7	reform	reform	NOUN
faba-154	277	8	.	.	PUNCT
faba-154	278	1	lessons	lesson	NOUN
faba-154	278	2	from	from	ADP
faba-154	278	3	the	the	DET
faba-154	278	4	financial	financial	ADJ
faba-154	278	5	crisis	crisis	NOUN
faba-154	278	6	in	in	ADP
faba-154	278	7	europe	europe	PROPN
faba-154	278	8	and	and	CCONJ
faba-154	278	9	central	central	PROPN
faba-154	278	10	asia	asia	PROPN
faba-154	278	11	to	to	PART
faba-154	278	12	improve	improve	VERB
faba-154	278	13	outcomes	outcome	NOUN
faba-154	278	14	from	from	ADP
faba-154	278	15	mandatory	mandatory	ADJ
faba-154	278	16	private	private	ADJ
faba-154	278	17	pensions	pension	NOUN
faba-154	278	18	,	,	PUNCT
faba-154	278	19	world	world	PROPN
faba-154	278	20	bank	bank	PROPN
faba-154	278	21	.	.	PUNCT
faba-154	279	1	schwarz	schwarz	PROPN
faba-154	279	2	,	,	PUNCT
faba-154	279	3	a.	a.	NOUN
faba-154	279	4	2011	2011	NUM
faba-154	279	5	.	.	PUNCT
faba-154	280	1	new	new	ADJ
faba-154	280	2	realities	reality	NOUN
faba-154	280	3	in	in	ADP
faba-154	280	4	pension	pension	NOUN
faba-154	280	5	policy	policy	NOUN
faba-154	280	6	in	in	ADP
faba-154	280	7	central	central	PROPN
faba-154	280	8	europe	europe	PROPN
faba-154	280	9	,	,	PUNCT
faba-154	280	10	world	world	PROPN
faba-154	280	11	bank	bank	PROPN
faba-154	280	12	.	.	PUNCT
faba-154	281	1	sebo	sebo	PROPN
faba-154	281	2	j.	j.	PROPN
faba-154	281	3	,	,	PUNCT
faba-154	281	4	and	and	CCONJ
faba-154	281	5	t.	t.	PROPN
faba-154	281	6	virdzek	virdzek	PROPN
faba-154	281	7	.	.	PUNCT
faba-154	282	1	2013	2013	NUM
faba-154	282	2	.	.	PUNCT
faba-154	283	1	dismantling	dismantle	VERB
faba-154	283	2	the	the	DET
faba-154	283	3	myths	myth	NOUN
faba-154	283	4	about	about	ADP
faba-154	283	5	the	the	DET
faba-154	283	6	pension	pension	NOUN
faba-154	283	7	funds	fund	NOUN
faba-154	283	8	performance	performance	NOUN
faba-154	283	9	from	from	ADP
faba-154	283	10	the	the	DET
faba-154	283	11	saver	saver	NOUN
faba-154	283	12	’s	’s	PART
faba-154	283	13	perspective	perspective	NOUN
faba-154	283	14	:	:	PUNCT
faba-154	283	15	publishing	publish	VERB
faba-154	283	16	house	house	NOUN
faba-154	283	17	of	of	ADP
faba-154	283	18	put	put	PROPN
faba-154	283	19	.	.	PUNCT
faba-154	284	1	szczepanski	szczepanski	PROPN
faba-154	284	2	m	m	PROPN
faba-154	284	3	,	,	PUNCT
faba-154	284	4	and	and	CCONJ
faba-154	284	5	t.	t.	PROPN
faba-154	284	6	brzeczek	brzeczek	NOUN
faba-154	284	7	.	.	PUNCT
faba-154	285	1	2013	2013	NUM
faba-154	285	2	.	.	PUNCT
faba-154	286	1	risk	risk	NOUN
faba-154	286	2	reform	reform	NOUN
faba-154	286	3	in	in	ADP
faba-154	286	4	poland	poland	PROPN
faba-154	286	5	and	and	CCONJ
faba-154	286	6	the	the	DET
faba-154	286	7	efficiency	efficiency	NOUN
faba-154	286	8	of	of	ADP
faba-154	286	9	occupational	occupational	ADJ
faba-154	286	10	pension	pension	NOUN
faba-154	286	11	schemes	scheme	NOUN
faba-154	286	12	,	,	PUNCT
faba-154	286	13	poland	poland	PROPN
faba-154	286	14	:	:	PUNCT
faba-154	286	15	publishing	publish	VERB
faba-154	286	16	house	house	NOUN
faba-154	286	17	of	of	ADP
faba-154	286	18	put	put	PROPN
faba-154	286	19	.	.	PUNCT
faba-154	287	1	world	world	PROPN
faba-154	287	2	bank	bank	PROPN
faba-154	287	3	.	.	PUNCT
faba-154	287	4	1994	1994	NUM
faba-154	287	5	.	.	PUNCT
faba-154	288	1	averting	avert	VERB
faba-154	288	2	the	the	DET
faba-154	288	3	old	old	ADJ
faba-154	288	4	age	age	NOUN
faba-154	288	5	crisis	crisis	NOUN
faba-154	288	6	:	:	PUNCT
faba-154	288	7	policies	policy	NOUN
faba-154	288	8	to	to	PART
faba-154	288	9	protect	protect	VERB
faba-154	288	10	the	the	DET
faba-154	288	11	old	old	ADJ
faba-154	288	12	and	and	CCONJ
faba-154	288	13	promote	promote	VERB
faba-154	288	14	growth	growth	NOUN
faba-154	288	15	.	.	PUNCT
faba-154	289	1	new	new	PROPN
faba-154	289	2	york	york	PROPN
faba-154	289	3	,	,	PUNCT
faba-154	289	4	n.y	n.y	PROPN
faba-154	289	5	.	.	PROPN
faba-154	289	6	:	:	PUNCT
faba-154	290	1	oxford	oxford	PROPN
faba-154	290	2	university	university	PROPN
faba-154	290	3	press	press	NOUN
faba-154	290	4	.	.	PUNCT
faba-154	291	1	https://ec.europa.eu/eurostat	https://ec.europa.eu/eurostat	PROPN
faba-154	291	2	http://www.federalreserve.gov/	http://www.federalreserve.gov/	VERB