Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland

Stańko, Dariusz

doi:https://doi.org/10.18910/18740

Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland

Stańko, Dariusz

大阪大学経済学, 2008, 57(4), 119-142

アクセス数:216件（2025-11-07 12:16 集計）

固定URL: https://doi.org/10.18910/18740

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タイトル	Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland
著者	著者名 Stańko, Dariusz
キーワード等	public pension funds
	pension reforming
	annuity funds
	pension fund performance
	Polish pension reform
JEL分類コード (JEL)	G23
	H55
	G22
	G28
内容	論文
抄録	The paper provides an input in the discussion on recent suggestion of Polish Ministry of Labour and Social Affairs that proposed to create a single, public annuity fund servicing payments from funded pension pillar. The paper assesses feasibility of such a solution in Poland both in terms of cost efficiency and political economy of the Polish pension reform. Further, some key advantages and disadvantages of public (centralized) management of pension funds found in the international literature are discussed with particular focus on investment efficiency, corporate governance and impact of state−owned public funds on the capital markets. Such issues are very important for policy making and should be born in mind while shaping the future annuity pension systems in Poland or any reforming country. The paper argues that governments should avoid creating huge, single annuity funds and/or pension funds that would have too much impact on local capital markets. One of the propositions of the paper is to use life insurance companies as private annuity providers and existing experience of countries like Chile and UK to design the annuity system in Poland.
出版者	大阪大学経済学会
	The Economic Society of Osaka University
	オオサカ　ダイガク　ケイザイ　ガッカイ
収録物名	大阪大学経済学
収録物名	Osaka Economic Papers
巻(号)	57(4)
ページ	119-142
刊行年月	2008-03
言語	英語
ハンドルURL	https://hdl.handle.net/11094/18740
DOI	https://doi.org/10.18910/18740
PISSN	04734548
NCID	AN00030111
アクセス権	open access
出版タイプ	Version of Record
カテゴリ	本学関連学会 Related Societies
カテゴリ	大阪大学経済学 / 57巻4号 (2008-03)

資源タイプ	学術雑誌論文
ローカル資源タイプ	本学関連学会
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	大阪大学経済学. 2008, 57(4), p. 119-142
DC.title	Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland
DC.creator	Stańko, Dariusz
DC.publisher	大阪大学経済学会
	The Economic Society of Osaka University
	オオサカ　ダイガク　ケイザイ　ガッカイ
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2008-03
DC.subject	public pension funds
	pension reforming
	annuity funds
	pension fund performance
	Polish pension reform
DC.description	論文
DCTERMS.abstract	The paper provides an input in the discussion on recent suggestion of Polish Ministry of Labour and Social Affairs that proposed to create a single, public annuity fund servicing payments from funded pension pillar. The paper assesses feasibility of such a solution in Poland both in terms of cost efficiency and political economy of the Polish pension reform. Further, some key advantages and disadvantages of public (centralized) management of pension funds found in the international literature are discussed with particular focus on investment efficiency, corporate governance and impact of state−owned public funds on the capital markets. Such issues are very important for policy making and should be born in mind while shaping the future annuity pension systems in Poland or any reforming country. The paper argues that governments should avoid creating huge, single annuity funds and/or pension funds that would have too much impact on local capital markets. One of the propositions of the paper is to use life insurance companies as private annuity providers and existing experience of countries like Chile and UK to design the annuity system in Poland.
DC.identifier	10.18910/18740
DC.format	18740
citation_title	Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland
citation_author	Stańko, Dariusz
citation_publisher	大阪大学経済学会
citation_language	英語
citation_date	2008-03
citation_journal_title	大阪大学経済学
citation_volume	57
citation_issue	4
citation_firstpage	119
citation_lastpage	142
citation_public_url	https://hdl.handle.net/11094/18740
citation_doi_detail	10.18910/18740
citation_doi	https://doi.org/10.18910/18740

Public Annuity Fund and Public Pension Funds in Pension Policy Making in Poland

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