Competition and performance in the Polish second pillar:
This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries': the relatively high component of domestic equ...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
World Bank
2007
|
| Schriftenreihe: | World Bank working paper
no. 107 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries': the relatively high component of domestic equity, and the negligible component on international securities. Although this asset allocation has provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of return. The paper provides a number of recommendations to expand the opportunities of investments to pension funds. The paper finds that pension fund management companies have been able to exploit scale economies in certain areas of the business, such as collection of revenues, and proposes to study mechanisms to enhance them even more by centralizing also the account management system, which may also help to increase portfolio efficiency and competition. The paper suggests that, with the payout phase starting in 2009, broad definitions in areas such as the role of the public and private sector need to be established. The paper examines the products and options that authorities may consider for the design of the payout phase |
| Beschreibung: | Includes bibliographical references (p. 51-53) |
| Beschreibung: | 1 Online-Ressource (v, 53 Seiten) ill 26 cm |
| ISBN: | 0821371193 0821371207 9780821371190 9780821371206 |
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| 245 | 1 | 0 | |a Competition and performance in the Polish second pillar |c Heinz Rudolph, Roberto Rocha |
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| 520 | 3 | |a This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries': the relatively high component of domestic equity, and the negligible component on international securities. Although this asset allocation has provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of return. The paper provides a number of recommendations to expand the opportunities of investments to pension funds. The paper finds that pension fund management companies have been able to exploit scale economies in certain areas of the business, such as collection of revenues, and proposes to study mechanisms to enhance them even more by centralizing also the account management system, which may also help to increase portfolio efficiency and competition. The paper suggests that, with the payout phase starting in 2009, broad definitions in areas such as the role of the public and private sector need to be established. The paper examines the products and options that authorities may consider for the design of the payout phase | |
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Datensatz im Suchindex
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:52Z |
| indexdate | 2024-07-10T09:54:37Z |
| institution | BVB |
| isbn | 0821371193 0821371207 9780821371190 9780821371206 |
| language | English |
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| spelling | Rudolph, Heinz P. Verfasser aut Competition and performance in the Polish second pillar Heinz Rudolph, Roberto Rocha Washington, D.C World Bank 2007 1 Online-Ressource (v, 53 Seiten) ill 26 cm txt rdacontent c rdamedia cr rdacarrier World Bank working paper no. 107 Includes bibliographical references (p. 51-53) This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries': the relatively high component of domestic equity, and the negligible component on international securities. Although this asset allocation has provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of return. The paper provides a number of recommendations to expand the opportunities of investments to pension funds. The paper finds that pension fund management companies have been able to exploit scale economies in certain areas of the business, such as collection of revenues, and proposes to study mechanisms to enhance them even more by centralizing also the account management system, which may also help to increase portfolio efficiency and competition. The paper suggests that, with the payout phase starting in 2009, broad definitions in areas such as the role of the public and private sector need to be established. The paper examines the products and options that authorities may consider for the design of the payout phase Online-Ausg Pension trusts Poland Pensions Poland Rocha, Roberto Rezende Sonstige oth World Bank Sonstige oth http://elibrary.worldbank.org/content/book/9780821371190 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Rudolph, Heinz P. Competition and performance in the Polish second pillar Pension trusts Poland Pensions Poland |
| title | Competition and performance in the Polish second pillar |
| title_auth | Competition and performance in the Polish second pillar |
| title_exact_search | Competition and performance in the Polish second pillar |
| title_exact_search_txtP | Competition and performance in the Polish second pillar |
| title_full | Competition and performance in the Polish second pillar Heinz Rudolph, Roberto Rocha |
| title_fullStr | Competition and performance in the Polish second pillar Heinz Rudolph, Roberto Rocha |
| title_full_unstemmed | Competition and performance in the Polish second pillar Heinz Rudolph, Roberto Rocha |
| title_short | Competition and performance in the Polish second pillar |
| title_sort | competition and performance in the polish second pillar |
| topic | Pension trusts Poland Pensions Poland |
| topic_facet | Pension trusts Poland Pensions Poland |
| url | http://elibrary.worldbank.org/content/book/9780821371190 |
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