Objectives: the comparative research of the public and private insurance systems is important as it provides financial benefits to the individuals who have lost their income due to their old age, along with their decreased labour ability caused by disabilities, disease, motherhood, work related accidents or unemployment, and the resulting benefits are conditioned by the due contributions;

Prior Work: this work continues previous research conducted for the PhD thesis called “Improving Management in the Public and Private Insurance Systems in the Market Economy”;

Approach: the main methods that have been used in surveys and observation of the population’s behaviour;

Results: in order to reduce the financial restraints that the public insurance system has to cope with, the concrete implementation of a social insurance system based on the needs and value scales of the Romanian state is necessary;

Implications: academics and researchers interested in the Romanian social insurance system management and its long run effects on the population;

Value: the insurance systems determine the quality of life for most of the population and strongly influence the economy, especially the labour market and the capital market. This is why social security is a common challenge for all European countries.