Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 3

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  supplementary pension system
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1
Publication available in full text mode
Content available

Readability, efficiency and costliness of individual retirement products in Poland

100%
Pieńkowska-Kamieniecka S., Rutecka-Góra J., Kowalczyk-Rólczyńska P., Hadryan M.
Equilibrium. Quarterly Journal of Economics and Economic Policy
|
2021
|
vol. 16
|
issue 1
45-74
EN
Research background: The role of supplementary pension systems in providing adequate income in old-age is increasing significantly. They are frequently analysed, but rather in terms of architecture, product forms, assets under management or tax incentives than in terms of their efficiency, costliness or readability for individuals. Purpose of the article: The first aim of this paper is to evaluate individual retirement products in Poland regarding their linguistic readability and transparency, investment efficiency and costliness. Moreover, we examine whether there is any correlation between the analyzed characteristics of contracts that would suggest an intentional strategy by financial institutions to hide low efficiency and high costs. The second aim of the article is to assess which individual retirement products are similar to each other and which are significantly different. The research covers two types of individual retirement products (IKE and IKZE) offered at the beginning of 2017. Methods: We used the ?Jasnopis? linguistic analysis tool to assess the difficulty level of the language used in the contracts and we conducted desk-research to analyse their transparency. We indicated the costliness and efficiency of the products by calculating the 5-year cost ratios and real average 5-year rates of return. To examine the relations between the characteristics of pension contracts, we used the Spearman's rank correlation coefficient and then verified its significance with a non-parametric test. Moreover, to identify groups of products that are similar to or different from each other, Ward's method was used. The study includes nearly 90% of  all individual retirement products offered in Poland. Findings & value added: For both types of retirement products studied (IKE and IKZE), we found that the more readable a contract is, the higher its rate of return is and the higher the costs charged are. Moreover, the more readable a contract is, the more transparent it is. The findings of the study provide financial institutions, the supervisor and creators of social policy with information on market imperfections and recommendations how to improve the individual retirement products offered on the market. Our research makes a unique contribution to the multidimensional research of supplementary pension systems. It also develops the understanding of how to successfully use linguistic tools in complex analyses of financial services. The results of the hierarchical cluster analysis proved that both IKE and IKZE products differ substantially and their features generally do not depend on the type of the financial provider.
2
Content available remote

Udział funduszy inwestycyjnych w oszczędnościach gospodarstw domowych w Polsce w latach 2006–2016 – ocena z perspektywy dodatkowego zabezpieczenia emerytalnego

86%
Orlik T.
Wiadomości Ubezpieczeniowe
|
2016
|
issue 2
35-55
PL
W artykule zaprezentowano stan i analizę oszczędności gospodarstw domowych w latach 2006–2016 ze szczególnym uwzględnieniem wykorzystania funduszy inwestycyjnych. Aktywa funduszy inwestycyjnych wzrosły jedynie o 28% w okresie od 2006 do 2015 roku (do 106,6 mld zł). W tym samym czasie wzrost depozytów bankowych wyniósł 177% (662.5 mld do PLN). Znaczna liczba klientów unika funduszy inwestycyjnych w związku z ich spadkami w czasie kryzysu w roku 2008. Wykorzystanie funduszy inwestycyjnych w ramach dodatkowego zabezpieczenia emerytalnego w Polsce jest również skromne, głównie ze względu na bardzo małe znaczenie dobrowolnego systemu emerytalnego. W artykule omówiono przyczyny takiej sytuacji i wskazano czynniki kluczowe dla przyszłego rozwoju funduszy inwestycyjnych w Polsce.
EN
In the article there is review of the household savings in retail investment funds in comparison to bank deposits. There is also analysis, why there is a low growth of fund’s assets in comparison to deposits. Investment funds could be interesting alternative for household saving when the interest rate on bank deposit is very low, but there is no significant growth of the open-ended investment funds. Assets of the retail investment funds increased only by 28% during period 2006 to 2015 (up to PLN 106.6 billion). At the same time growth of household deposits was 177% (up to PLN 662.5 billion). Most clients still avoid investment funds after crisis in 2008. Using investment funds in supplementary pension system in Poland is also modest, due to very small overall participation in voluntary pension system. Author discusses reasons for such situation and key factors for the future development.
3
Publication available in full text mode
Content available

Wykluczenie emerytalne z dodatkowej części polskiego systemu emerytalnego – analiza skali i zasięgu zjawiska

72%
Jedynak T.
Ubezpieczenia Społeczne. Teoria i praktyka
|
2020
|
issue 3
119-141
EN
The paper addresses the issue of exclusion from the supplementary part of the Polish pension system. The exclusion is understood as a lack of access as well as a lack of use of additional old-age security products. The main goal of the study is to estimate the scale of retirement exclusion from the supplementary part of the Polish pension system. In the course of achieving this goal, the idea of pension exclusion was conceptualized and the measures of the pension exclusion were proposed. As a result of empirical analyses, the degree of pension exclusion in Poland was assessed. It was found that only a few accumulate savings for retirement, and those who do so save far too little to ensure a satisfactory level of income in the future. At the same time, it was noted that the claim that the exclusion in the supplementary pension system is due to the formally limited availability of products for the accumulation of additional (supplementary) pension savings is unjustified. It was found that a high degree of pension exclusion from the supplementary pension system is conditioned by the lack of instruments for collecting supplementary pension savings and the low level of their real use. In addition, though it was found that while the design of the Employee Capital Plans [pracownicze plany kapitałowe, PPK] system results in limiting the scope and scale of exclusion from an additional part of the pension system, this program is not a complex remedy for exclusion from the supplementary pension system in Poland as such.
PL
Artykuł podejmuje problematykę wykluczenia z dodatkowej części polskiego systemu emerytalnego, które jest przy tym rozumiane zarówno jako brak dostępu, jak i jako brak korzystania z produktów dodatkowego zabezpieczenia emerytalnego. Głównym celem opracowania jest oszacowanie skali wykluczenia emerytalnego z dodatkowej części polskiego systemu emerytalnego. W toku realizacji tego celu dokonano konceptualizacji pojęcia wykluczenia emerytalnego oraz sformułowano koncepcję pomiaru jego skali. W efekcie przeprowadzonych analiz empirycznych oceniono stopień wykluczenia emerytalnego w Polsce. Stwierdzono, że dodatkowe oszczędności emerytalne gromadzi niewielu, a ci nieliczni, którzy oszczędzają, odkładają zdecydowanie za mało, aby zapewnić sobie w przyszłości satysfakcjonujący poziom dochodów. Jednocześnie odnotowano, że twierdzenie, zgodnie z którym ekskluzja w dodatkowym systemie emerytalnym wynika z ograniczonej formalnie dostępności produktów gromadzenia dodatkowych oszczędności emerytalnych, jest nieuzasadnione. Ustalono, że wysoki stopień wykluczenia emerytalnego z dodatkowego systemu emerytalnego jest warunkowany brakiem posiadania instrumentów gromadzenia dodatkowych oszczędności emerytalnych oraz niskim poziomem ich realnego wykorzystania. Ponadto stwierdzono, że o ile konstrukcja systemu pracowniczych planów kapitałowych (PPK) skutkuje ograniczeniem zasięgu i skali wykluczenia z dodatkowej części systemu emerytalnego, o tyle program ten nie stanowi kompleksowego remedium na zjawisko wykluczenia z dodatkowego systemu emerytalnego w Polsce.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.