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According to the current government, the KPP must achieve two objectives. One of them is to increase the funds needed to fund pensions, which would be lower otherwise.
In addition, it will involve injecting additional capital into the economy, especially the stock market or the banking system, which entrepreneurs can use.
– The funds to be generated in the program at this time are relatively moderate. Stanisław Gomułka, chief economist at the Business Center Club
announced that the government fears the resistance of entrepreneurs and employees in the first stage. Both, but most importantly, employers must provide financial resources.
The current scope of the PPK will provide a slight increase in pensions. Without this, in 20-30 years, these benefits will fall to about 30-35 percent over wages, from the current level – about 50 percent. The goal was to reduce this decline, however, it will still take place – Gomułka evaluated.
We must save?
The introduction of employee investment plans will increase the savings rate in Poland Currently, we are at a low level and our result is below the average of the EU and below average in most countries of Central and Eastern Europe.
For the capital market itself, this can be an important stimulus – we will see the influx of new funds.
This will lead to less dependence of the capital market in Poland on sentiment fluctuations, world market events and decisions made outside of our country. We can be the beneficiaries of this situation in the face of the recession or more critical of the developing countries. For Polish retirees, the PPK should be evaluated positively.
– The program is voluntary and modern, has many similarities with programs used in Western countries or the United States. The savings rate will rise – said Grzegorz Sielewicz, Coface's chief economist in Central Europe
– The media room says that there are a lot of doubts about the trust of the Poles – it's about Was trying to dismantle the system of open pension funds. However, compared to this system, it was guaranteed that funds accumulated within the PPK would be private. This provision reduces uncertainty, but the degree of participation in the program may be lower than expected by the government – estimated Sielewicz
PPK instead of OFE – a chance for a smaller reduction in pensions
PPK is a modern program similar to Western solutions [19659014] How is the replacement rate?
According to calculations by the European Commission, the replacement rate was 78% for a full-time employee in 2004. The replacement rate in Poland is currently about 50%, which means that retirees today they receive an average of half that they earned before reaching the retirement age.
According to some estimates, in 2050 the replacement rate will not be higher than 30-40% of the current salary.
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