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The Polish pension reform

The Polish pension reform In the 1990s, Poland's government faced a serious crisis of the social security system. It decided to undertake a radical step and partially privatised the system in 1999. The objective was twofold. First, privatisation will gradually shift the burden from the state to the private sector. Second, the new pension funds will become major institutional investors and facilitate further growth of the capital market. This paper overviews the pension reform undertaken in Poland, compares it with reforms introduced in other countries, and provides preliminary data on the market performance of open pension funds. Polish experience can be of interest to other governments and institutions currently involved in, or considering privatisation of their social security systems. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Global Business and Economics Review Inderscience Publishers

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1097-4954
eISSN
1745-1329
DOI
10.1504/GBER.2002.006191
Publisher site
See Article on Publisher Site

Abstract

In the 1990s, Poland's government faced a serious crisis of the social security system. It decided to undertake a radical step and partially privatised the system in 1999. The objective was twofold. First, privatisation will gradually shift the burden from the state to the private sector. Second, the new pension funds will become major institutional investors and facilitate further growth of the capital market. This paper overviews the pension reform undertaken in Poland, compares it with reforms introduced in other countries, and provides preliminary data on the market performance of open pension funds. Polish experience can be of interest to other governments and institutions currently involved in, or considering privatisation of their social security systems.

Journal

Global Business and Economics ReviewInderscience Publishers

Published: Jan 1, 2002

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