Open AccessOpen Pension Funds in Poland: The Efects of the Pension Privatization Process
Author(s) -
Leokadia Oręziak
Publication year - 2014
Publication title -
international journal of management and economics/boletín informativo
Language(s) - English
Resource type - Journals
ISSN - 2299-9701
DOI - 10.2478/ijme-2014-0017
Subject(s) - pension , pillar , debt , capital (architecture) , business , pension system , point (geometry) , economic policy , finance , geometry , mathematics , structural engineering , archaeology , engineering , history
Since their establishment in 1999, the Open Pension Funds (OPFs) have comprised a mandatory capital pillar in the pension system of Poland. The paper`s objective is to analyze the principles under which the OPFs function and assess their past and anticipated future impact on the state of the country's public fnances, particularly on the public debt. The analysis also considers the past and potential effects of the OPFs existence from the point of view of future levels of old-age pension. The studies are targeted at determining the threats connected with further maintenance of the OPFs from the point of view of both public fnance stability and pension system security