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<図書>
Competition and performance in the Polish second pillar

責任表示 Heinz Rudolph, Roberto Rocha
シリーズ World Bank working papers ; no. 107
データ種別 図書
出版情報 Washington, D.C. : World Bank , c2007
本文言語 英語
大きさ v, 53 p. : ill. ; 26 cm
概要 Competition and Performance in the Polish Second Pillar is part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stim...late public discussion. This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries: the relatively high component of domestic equity, and the negligible component of international securities. Although this asset allocation provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of return. The paper provides a number of recommendations to expand the opportunities for investments in pension funds. Pension fund management companies have been able to exploit scale economies in certain areas of the business, such as collection of revenues. This study proposes mechanisms to enhance them even more by centralizing also the account management system, which may also help to increase portfolio efficiency and competition. With the payout phase starting in 2009, broad definitions in areas such as the role of the public and private sector need to be established. The paper examines products and options that authorities may consider for the design of the payout phase. Book jacket.続きを見る

所蔵情報



中央図 4C_139‐163,166 [経済 統計資料] 3WB/W.P./107 2007
017212007001987

書誌詳細

一般注記 Includes bibliographical references (p. 51-53)
著者標目 *Rudolph, Heinz P.
Rocha, Roberto Rezende
World Bank
件 名 LCSH:Pensions -- Poland  全ての件名で検索
LCSH:Pension trusts -- Poland  全ての件名で検索
書誌ID 1001337219
ISBN 9780821371190
NCID BA82554471
巻冊次 ISBN:9780821371190 ; XISBN:0821371193
登録日 2009.09.18
更新日 2009.09.18