Nierównowaga funduszu rentowego FUS: przyczyny i implikacje
Imbalance of FUS allowance fund: causes and implications

Summary/Abstract: Over the last years, the main directions on the discussion on possibilities of changes in the social se- curity system in Poland have focused on the issue of operation of open pension funds, as well as rais- ing the retirement age and making it equal for men and women. The list of expected changes which would strengthen the system in Poland remains long. What seems to be one of the particularly impor- tant things is the need to adjust the allowance subsystem to pension one, which operates in the de- fined contribution formula. Its implementation will be of significant economic and social importance. The analysis of the variables related to cash flows in the allowance fund separated out of the Social Insurance Funds shows its permanent imbalance, also in forecast terms. The author believes that the current rules for providing benefits lead to lasting professional deactivation of insured persons once they reach the age of 50.The author makes an attempt at analysing the reasons for the shortage in the fund and its influence on the financial condition of the Social Insurance Fund, taking into account its medium-term forecast for the years 2013–2017. What remains an important problem to be solved is setting out the direc- tion of changes in the manner in which allowances are granted as well as the criteria which need to be fulfilled to obtain them. It will be outlined in this paper.

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