Voluntary forms of pension plans in Poland

Kamila Stańczak-Strumiłło

Abstract

The progressive demographic changes have been determining the reforms of the pension systems around the world. The basic, mandatory pension schemes are being limited and have been giving way to the development of additional voluntary pension plans, which should gradually become an increasingly important part of the pension systems. Voluntary forms of pension plans have been functioning in Poland for several years. Unfortunately, the interest in creating voluntary pension savings is marginal – it encompasses a small percentage of this market’s potential participants. The aim of this paper is to characterize and to evaluate the development of the voluntary forms of pension plans in Poland. The analysis includes all forms of the voluntary pension plans functioning within the III pillar of the Polish pension system: Occupational Pension Plans (PPE), Individual Pension Accounts (IKE) as well as Individual Pension Security Accounts (IKZE). The study period covers the years 2006-2015.