Republic of Poland: Financial Sector Assessment Program-Technical Note-Competition and Performance in the Polish Second Pillar

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 104

Publication date: March 2007

ISBN: 9781451832020

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Public Finance , ISCR , CR , private equity , government bond , management fee , coverage ratio , equity portfolio , variable annuity , pension fund portfolio , Pension spending , Stocks , Mutual funds , Insurance , Pensions , Europe

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Summary

This technical note for the Republic of Poland on competition and performance explains the Polish pension system and domestic capital market. Competition policies may need to be reviewed, in particular the combination of measures to maintain small pension funds operating while imposing strict caps on fees. If the government decides to continue pursuing policy of promoting competition in returns while reducing fees further, it may need to consider more structural changes in the second pillar, along the lines of the Swedish model.