The article discusses the rules governing the exercising of the right to fully-funded pensions. The pensions were introduced into Poland under the pension system reform. The law specifies two types of benefits: a periodic annuity (effective as of 2009) and a lifetime annuity (from 2014). A fully-funded pension is a personal benefit whose level depends on the amount of funds the insured person has accumulated on an individual account kept by the chosen Open Pension Fund. Both the fully-funded pensions and those paid under the so-called first pillar are protected by the state. A periodic annuity is a fixed-term and temporary benefit, which means that a person reaching the statutory age of 65 years becomes illegible for it, receiving a lifetime annuity instead. It is worth noting that the age when the fully-funded pensions can be drawn is the same for men and women (65 years). Therefore, the social insurance system complies with the rule of non- discriminatory treatment of its clients. Nevertheless, the fact that women save for shorter periods and draw periodic annuities may affect the final amounts of lifetime annuities they will draw.
This paper aims at analysis of development of Employee Pension Plans as a measurement of pension awareness among the society. Unsatisfactory development of Employee Pension Plans shows insufficient use of the voluntary form of income support in old age by both employers and employees. This may indicate lack of sufficient tax incentives and too low pension awareness and that non-tax benefits for employers do not play as significant role as expected. As a result, loss of pension assets from the base of the pension system will not be set-off adequately as evidenced by declining.
It is part of the social and economic policy to gradually raise the retirement age up to 67 years for both genders, aimed at reduction of effects of unfavourable changes in the age structure of the society, and staving off the crisis of public finances. The raised retirement age should imply gradual increase of social insurance funds based on pension contributions, and rein in expenses on benefits paid. Because of quite a long time frame, it is difficult to say whether or not the raised retirement age will be a success. Therefore, in order to make the reform successful it is necessary to carry out concurrent actions concerning education, health protection, labour market, etc. It is vital to take effective measures in the social and economic sphere aimed at providing older employees with workplaces that would motivate them to remain professionally active for longer. If such circumstances in the countryʼs social and economic policy were overlooked, the success of the age raising itself would be at risk, and it might produce some adverse effects like increased unemployment rates, especially among employees at the pre-retirement age.
PL
Stopniowe podwyższanie wieku emerytalnego do poziomu 67 lat dla obu płci stanowi element polityki społeczno-gospodarczej mającej na celu niwelowanie skutków mało korzystnych przemian w strukturze wiekowej społeczeństwa oraz powstrzymanie kryzysu finansów publicznych. Podniesienie wieku emerytalnego ma oznaczać stopniowy wzrost dochodów funduszy ubezpieczeń społecznych z tytułu składki emerytalnej i utrzymanie w ryzach wydatków na rzecz realizacji świadczeń. Z uwagi na daleką dość perspektywę, trudno przesądzać o powodzeniu i jednoznacznych skutkach społecznych i ekonomicznych podniesienia wieku. W związku z tym, zapewniając powodzenie reformy, należy również prowadzić kompleksowe działania towarzyszące w zakresie edukacji, ochrony zdrowia, rynku pracy, itd. Istotne jest dokonanie efektywnych działań w sferze społeczno-gospodarczej mających na celu zapewnienie miejsc pracy dla dojrzałych pracowników oraz mobilizujących tych ostatnich do dłuższej aktywności zawodowej. Pominięcie tych okoliczności w polityce społeczno-ekonomicznej kraju zagraża realizacji celów samego podwyższenia wieku emerytalnego, jak również może wywołać zjawiska niepożądane, np. wzrost liczby bezrobotnych, zwłaszcza w grupie pracowników w wieku przedemerytalnym.
Poland is one of the European countries undergoing intensive legal and economic changes (increased retirement age, changes in the labour market) aimed at reducing the negative consequences of population aging and shrinking labour force. The changes in the demographic structure, as evidenced by low birth rate and increasing life expectancy are causing increased pressure on public pension expenditures. Implementation of the procedures intended to increase the retirement age requires obligatory coordination with the measures taken by the state in the area of labour market to support economic activity of individuals within the pre-retirement age bracket. This translates into the need to make the best use of the existing labour market instruments, employment services, and to support effective cooperation between labour market participants – mainly employers, but prospective employees as well.
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