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2017 | 85 | 66-72
Article title

Alternative forms of saving versus compulsory pension system

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EN
Abstracts
EN
Mandatory and voluntary pillars are components of the pension system in Poland. The optional third pillar of the conscious part of society is appreciated solution. It consists out of many products, some of them are offered along with guaranteed tax credits by the state, another by investment companies, insurance companies, and other entities on the financial market. Investment platforms are an innovative form of additional security. These are long-term retirement security products which are very popular both among Polish society and others citizens of European Union. This situation is caused extendable retirement age, life expectancy, insecurity capacity of state pension systems. Platforms are an opportunity to create their own savings for the future, enabling simultaneous diversification of investments and the independence of the local market and currency. Popularity of products remains at a high level, and this is so despite certain deficiencies and imperfections that also these products. Black shadow on the activities of these institutions put a charge liquidation, which deprived parts of resigning participants collected funds. The purpose of this article is to review the literature topic, as well as the current situation of an aging population, the pension system, as well as additional and alternative forms of security in old age. In this paper we attempt was made to determine the factors of the real situation, the conditions, the advantages and disadvantages of current solutions, as well as the conclusion of present situation with the issuance of diagnosis for the future.
Year
Volume
85
Pages
66-72
Physical description
Contributors
  • Faculty of Economics and Management, Nicolaus Copernicus University in Torun, Poland
References
  • [1] Haslem, J. A. (2004). Are Mutual Fund Expenses Too High? A Commentary. The Journal of Investing 13 (2), 8-12.
  • [2] LaPlante, M. (2001). Influences and trends in mutual fund expense ratios. The Journal of Investing 24 (1), 45-63. DOI:10.1111/j.1475-6803.2001.tb00817.x
  • [3] Bogle, J. C. (2005). The Mutual Fund Industry 60 Years Later: For Better or Worse? Financial Analysts Journal 61(1), 15-24.
  • [4] Brian, K. Reid B. K., Rea, J. D. (2003). Mutual Fund Distribution Channels and Distribution Costs. Perspective 9 (3), 1-20.
  • [5] Sinn, H. (2000). Why a Funded Pension System is Needed and Why It is Not Needed. International Tax and Public Finance 7 (4-5), 389-410.
  • [6] Brunner, J. K. (1996). Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness. Journal of Public Economics 60 (1), 131-146
Document Type
article
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.psjd-ae772e12-4b46-47fe-a06c-338e46ca1c2d
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