The minimum pension as an instrument of poverty protection in the defined contribution pension system – an example of Poland*

Chłoń-Domińczak, Agnieszka; Strzelecki, Paweł

doi:10.1017/s1474747212000418

Cited by 37 publications

(17 citation statements)

References 7 publications

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“…Previous studies for Poland (see e.g. Chłoń-Domińczak and Strzelecki 2013) show that groups with short tenure and career breaks will be at higher risk of falling below poverty line in retirement. Lewandowski et al (2015) estimate that pension benefits for workers on contracts under civil law can be lower by 17% than in the case of standard employment contracts.…”

Section: Yearmentioning

confidence: 97%

The Impact of Pension System Reform on Projected Old-Age Income: The Case of Poland

Jarocinska

Ruzik-Sierdzińska

2016

SSRN Journal

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Section: Yearmentioning

confidence: 97%

The Impact of Pension System Reform on Projected Old-Age Income: The Case of Poland

Jarocinska

Ruzik-Sierdzińska

2016

SSRN Journal

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“…a Unisex life tables used in the NDC plan. b Maximum benefit is set implicitly by the maximum contribution rate; see Chłoń-Domińczak and Strzelecki (2013). c Majority chose to the participate in NDC plan; see Chłoń-Domińczak (2002).…”

Section: Transition Rulesmentioning

confidence: 99%

The Effect of Public Pension Wealth on Saving and Expenditure

Lachowska

Myck

2018

American Economic Journal: Economic Policy

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E S ABSTRACTThe Effect of Public Pension Wealth on Saving and Expenditure *In order to study whether public pension systems displace private saving, we use the quasiexperimental variation in pension wealth created by Poland's 1999 pension reform. Using the 1997-2003 Polish Household Budget Surveys, we begin by estimating "difference-indifferences" regressions, where we compare household saving and expenditure across time and between cohorts affected and unaffected by the reform. Next, we estimate the extent of crowd-out by using two-stage least squares. We identify the effect of pension wealth on private saving by using the cohort-by-time variation in pension wealth that is explained by the reform. We find that one additional Polish zloty, or PLN, of pension wealth crowds out about 0.24 PLN in household saving. We also find heterogeneity in responses. For the middle-aged cohorts, we find a large public pension crowd-out of private saving (about 0.54 PLN of private saving for each 1 PLN of public pension wealth), while the crowd-out for younger cohorts equals about 0.30 PLN of private saving per 1 PLN. Finally, we find a close-to-complete crowd-out among highly-educated households.JEL Classification: E21, H55, I38, P35

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“…It has long been recognized that NDC schemes should be supplemented with a minimum pension benefit (MPB) [63][64][65][66]. The introduction of an MPB is a way of preserving the social sustainability of the scheme as well as the adequacy of the pension.…”

Section: Introductionmentioning

confidence: 99%

Social Insurance Accounting for a Notional Defined Contribution Scheme Combining Retirement and Long-Term Care Benefits

2018

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This paper develops a social insurance accounting model for a notional defined contribution (NDC) scheme combining retirement and long-term care (LTC) contingencies. The procedure relies on standard double-entry bookkeeping and enables us to compile a "Swedish" type actuarial balance sheet (ABS) following a framework equivalent to an open group approach. This methodology is suitable for reporting the system's solvency status and can show periodical changes in the system's financial position by means of an income statement. The information underpinning the actuarial valuation is based on events and transactions that are verifiable at the valuation date, without considering expected future trends. The paper also contains an illustrative example to make it easier for policymakers to understand the main advantages and difficulties of our proposal. The policy conclusions stress the need to properly report social insurance benefits to enhance transparency and sustainability and to improve decision-making because it is in the public interest to do so.

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The minimum pension as an instrument of poverty protection in the defined contribution pension system – an example of Poland*

Cited by 37 publications

References 7 publications

The Impact of Pension System Reform on Projected Old-Age Income: The Case of Poland

The Impact of Pension System Reform on Projected Old-Age Income: The Case of Poland

The Effect of Public Pension Wealth on Saving and Expenditure

Social Insurance Accounting for a Notional Defined Contribution Scheme Combining Retirement and Long-Term Care Benefits

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