Automatic enrolment into occupational pension schemes - the UK model and differences with the proposed Polish program
AbstractA new form of an occupational pension scheme is due to be introduced in Poland from January 2019. It will be a defined contribution scheme with automatic enrolment of employees. The setup is modelled after the autoenrolment program functioning in the United Kingdom since April 2012. However, there are some differences between the program which had been setup in the UK and the proposed Polish one. These concern aspects such as eligibility of workers for autoenrolment, levels of contributions payable by both employers and employees and incentives provided by the State. Aim of this paper is to analyse these differences by calculating contribution levels and replacement rates which can be achieved in the UK and in the proposed Polish scheme. This will allow to identify workers who can expect highest replacement rates in both countries, as well as those paying highest contribution rates. The input of the State in the form of additional contributions and tax incentives will also be assessed.
|Publication size in sheets||0.64|
|Book||Chybalski Filip, Marcinkiewicz Edyta (eds.): Contemporary problems of intergenerational relations and pension systems: a theoretical and empirical perspective : proceedings of PenCon 2018 Pensions Conference 19-20 April 2018 Lodz, Poland, 2018, Politechnika Łódzka, ISBN 978-83-7283-900-8, 282 p.|
|Keywords in English||automatic enrolment, contribution rate, pension schemes, replacement rate|
|License||Publisher website (books and chapters only); published final; ; with publication|
|Score||= 20.0, 21-02-2020, ChapterFromConference|
|Publication indicators||= 0|
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