Title
Evaluating the Effects of Poland's Pension Reform
Project Dates
04/01/2012 - 02/01/2015
Description
In January 1999 a significant pension reform was implemented in Poland with a move to a defined contribution system. The new pensions system restructured the state pension benefit into a nationally defined PAYG contribution plan and a funded pension with contributions managed by private pension investment funds. The reform lowered the expected pension wealth for many groups with replacement ratios expected to fall to 50% for those born in the 1960's and to about 40% for those born in the 1970s. This project studied the degree of substitutability between pension wealth and private wealth, addressed the issue of whether different groups manage to save enough for retirement, and formed the background for research on the effects of changes in pension wealth on labor supply.
Subject Area
LABOR MARKET ISSUES; Retirement and pensions
Publications
The Effect of Public Pension Wealth on Saving and Expenditure, Marta Lachowska and Michał Myck. Upjohn Institute Working Paper 15-223 (2015)
What is the Relation between Public Pensions and Private Savings?, Marta Lachowska, Michal Myck (2015)