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A paradox of reforming pensions in Poland

Author

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  • Anna Zabkowicz

    (Uniwersytet Jagiellonski)

Abstract

Recent years see intense reforming of funded pensions sub-system in Poland. Actually, what are policy objectives like at which change in design introduced in 2013 (mandatory funding) and projected in 2014 (voluntary funding) is oriented? The article briefly reports what was contemporary re-designing of the pension system at different stages about and reconstructs objectives of reforming at each stage. It finds that interlocking streams of change aimed at two goals in fact which are i) relief to public finance ii) expanding pension funding by financial intermediaries. It argues that the two are in contradiction to each other, and this makes a paradox of pension reforming. The review of 2013- and 2014- design, unexpectedly enough, results in conclusion that at present reforming is focused on pension funding revitalization which may cause a recurring distress to public finance. Thus, the article identifies one of dilemmas of institutional-order development in Poland which can be probably also experienced in other countries where pension funding has been introduced.

Suggested Citation

  • Anna Zabkowicz, 2015. "A paradox of reforming pensions in Poland," Working Papers 118/2015, Institute of Economic Research, revised Apr 2015.
    • Handle: RePEc:pes:wpaper:2015:no118
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    More about this item

    Keywords

    funded pensions; pension reform; public finance;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

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