The Polish NDC Scheme : Success in the Face of Adversity

The Polish NDC Scheme : Success in the Face of Adversity

Poland’s pension system faces multiple challenges, including accelerating population aging. Early retirement policy aimed at mitigating mass exit from the labor market led to the rise of pension system economic dependency. Transition to a nonfinanc...

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Bibliographic Details
Main Authors: Buchholtz, Sonia, Chłon-Domincza, Agnieszka, Góra, Marek
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
PENSIONS
PENSION REFORM
AGING
EARLY RETIREMENT
NONFINANCIAL DEFINED CONTRIBUTIONS
DEFINED CONTRIBUTION
Online Access:http://documents.worldbank.org/curated/en/748421556879207198/The-Polish-NDC-Scheme-Success-in-the-Face-of-Adversity
http://hdl.handle.net/10986/31642
id okr-10986-31642
recordtype oai_dc
spelling okr-10986-316422021-06-14T10:05:25Z The Polish NDC Scheme : Success in the Face of Adversity Buchholtz, Sonia Chłon-Domincza, Agnieszka Góra, Marek PENSIONS PENSION REFORM AGING EARLY RETIREMENT NONFINANCIAL DEFINED CONTRIBUTIONS DEFINED CONTRIBUTION Poland’s pension system faces multiple challenges, including accelerating population aging. Early retirement policy aimed at mitigating mass exit from the labor market led to the rise of pension system economic dependency. Transition to a nonfinancial and financial defined contribution (NDC plus FDC) system in 1999 mitigated the fiscal risk and an unfair balance of interest between the working and retired generations. The new system separated the income allocation and redistribution. The retirement age was raised. However, the implementation of the new system is a case study of misuse for current political goals, ad hoc tweaks, and unfinished topics. Yet the 1999 pension reform met its goals. 2019-05-07T15:10:47Z 2019-05-07T15:10:47Z 2019-04 Working Paper http://documents.worldbank.org/curated/en/748421556879207198/The-Polish-NDC-Scheme-Success-in-the-Face-of-Adversity http://hdl.handle.net/10986/31642 English Social Protection and Jobs Discussion Paper,no. 1904; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Europe and Central Asia Poland
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSIONS
PENSION REFORM
AGING
EARLY RETIREMENT
NONFINANCIAL DEFINED CONTRIBUTIONS
DEFINED CONTRIBUTION
spellingShingle PENSIONS
PENSION REFORM
AGING
EARLY RETIREMENT
NONFINANCIAL DEFINED CONTRIBUTIONS
DEFINED CONTRIBUTION
Buchholtz, Sonia
Chłon-Domincza, Agnieszka
Góra, Marek
The Polish NDC Scheme : Success in the Face of Adversity
geographic_facet Europe and Central Asia
Poland
relation Social Protection and Jobs Discussion Paper,no. 1904;
description Poland’s pension system faces multiple challenges, including accelerating population aging. Early retirement policy aimed at mitigating mass exit from the labor market led to the rise of pension system economic dependency. Transition to a nonfinancial and financial defined contribution (NDC plus FDC) system in 1999 mitigated the fiscal risk and an unfair balance of interest between the working and retired generations. The new system separated the income allocation and redistribution. The retirement age was raised. However, the implementation of the new system is a case study of misuse for current political goals, ad hoc tweaks, and unfinished topics. Yet the 1999 pension reform met its goals.
format Working Paper
author Buchholtz, Sonia
Chłon-Domincza, Agnieszka
Góra, Marek
author_facet Buchholtz, Sonia
Chłon-Domincza, Agnieszka
Góra, Marek
author_sort Buchholtz, Sonia
title The Polish NDC Scheme : Success in the Face of Adversity
title_short The Polish NDC Scheme : Success in the Face of Adversity
title_full The Polish NDC Scheme : Success in the Face of Adversity
title_fullStr The Polish NDC Scheme : Success in the Face of Adversity
title_full_unstemmed The Polish NDC Scheme : Success in the Face of Adversity
title_sort polish ndc scheme : success in the face of adversity
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/748421556879207198/The-Polish-NDC-Scheme-Success-in-the-Face-of-Adversity
http://hdl.handle.net/10986/31642
_version_ 1764474782746673152

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