Security through Diversity: Conditions for Successful Reform of the Pension System in Poland

Hausner, Jerzy

doi:10.1017/cbo9781139175296.009

Cited by 14 publications

(10 citation statements)

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“…22. For details see Golinowska, Czepulis-Rutkowska and Szczur 1997, Golinowska 1999and Hausner 2001. For an overview of the specific reform proposals of the BismarckianBeveridgean faction see Müller 1999.…”

Section: Resultsmentioning

confidence: 99%

“…Reformers managed to build a cross-party consensus on the need for structural pension reform, allowing for a continuation of the unfinished legislative agenda in spite of the 1997 government change. The political alternatives seemed less attractive: a continuation of the high subsidies to ZUS at the expense of other government expenditures, or drastic retrenchment in the public pension system -a politically sensitive if not impossible move, given that the Constitutional Court had effectively vetoed modifications of acquired pension entitlements (Hausner 2001).…”

Section: The Case Of Polandmentioning

confidence: 99%

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Reforming Pensions in Developing and Transition Countries

Hujo¹

2014

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Section: Resultsmentioning

confidence: 99%

Section: The Case Of Polandmentioning

confidence: 99%

Reforming Pensions in Developing and Transition Countries

Hujo¹

2014

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“…Moreover, the Ministry of Finance and the Ministry of Labor were at loggerheads, with the former favoring radical restructuring and the latter just incremental adjustments.The pension reforms in the mid-1990s were simply emergency policy making to rein in runaway spending. After the Constitutional Tribunal demanded proper restructuring(Hausner 2001), Poland embarked on the lengthiest legislative process in the region under a government led by the Democratic Left Alliance (SLD) in coalition with the Polish Peasants Party (PSL)(Guardiancich 2013;Müller 1999;Orenstein 2000 Orenstein , 2008.Three peculiarities characterized the reform: the establishment of a Plenipotentiary for Pension Reform with a markedly technocratic policy-making approach, the active position of the government at the center of political and social dialogue, and the unbundling of reforms into two phases under two different executives.Selling a partisan reform to the public was impossible due to intense left-right animosity.World Bank official Michał Rutkowski appealed for the creation of an independent team of experts to end an impasse between the Finance and Labor Ministers. Consequently, the Office of the Plenipotentiary for Social Security Reform was created and was chaired by Rutkowski.…”

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confidence: 99%

The Politics of NDC Pension Scheme Diffusion

Guardiancich¹,

Weaver²,

Demarco³

et al. 2019

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Nonfinancial defined contribution (NDC) schemes offer governments desirable properties in terms of efficiency, fairness, and financial sustainability and an opportunity to deflect the blame for pension cuts. Yet adoptions of NDC schemes largely ground to a halt and several countries retreated from NDC implementation after legislation. Lack of support from powerful international actors is partly to blame, as is the perceived rigidity of NDC in reducing room for policy maneuver. Correct implementation requires substantial administrative capacity. Less demanding automatic stabilizing mechanisms undercut the appeal of NDC in the European Union. Thus, while being an important option for policy makers and a benchmark against which to measure alternative reforms, NDC is unlikely to become the dominant pension design choice anytime soon.

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“…Transferring part of the income of younger age groups to individual account in pension funds increases deicit in the PAYG system (Hausner, 2001). At the same time, voluntary savings are low due to relatively low income level of the population in transition economies.…”

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confidence: 99%

The Perspective of Pension System Reforms in the New Member States

Festić¹,

Mencinger²

2009

Prague Economic Papers

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Abstract:Because of growing awareness of inancial needs for public pensions, attention has been focused on privatisation of the pension systems. While the privatisation of pension funds can encourage development of capital markets in New Member States, equity investment in transition economies is even more volatile than in the "old" capitalist countries. Privatised pension system coincides with investment risks, higher administrative costs, and inability of private markets to provide retirees with affordable, indexed and certain annuities. Namely, private sector may not provide enough investment projects to eficiently absorb mandated pension savings and the expected pension income is subject to a number of risks: poor and volatile investment returns, longevity, and inlation eroding the purchasing power of pensions. Indeed, the PAYG system appears to be the only viable system to perform well in terms of risk and volatility of returns.

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Security through Diversity: Conditions for Successful Reform of the Pension System in Poland

Cited by 14 publications

References 0 publications

Reforming Pensions in Developing and Transition Countries

Reforming Pensions in Developing and Transition Countries

The Politics of NDC Pension Scheme Diffusion

The Perspective of Pension System Reforms in the New Member States

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