Problem akwizycji w polskim systemie emerytalnym
Acquisition problem in pension system

Summary/Abstract: Acquisition of members in the Polish pension system is becoming more and more the subject of critique. Nowadays, future pensioners are hardly interested in the pension system and the investment results of Open Pension Funds (OFEs). At the same time, the activity of membership transfers in the secondary market has increased very dynamically. Weak inter- est amongst the insured and the low quality of accessible information increase the likeli- hood of potential abuses. However, the problems of marketing acquisition are rooted in the current system of acquisition. Taking into account some objective data (like three years or one year rates of return, level of fees) and some widely used methods of forecasting (on the basis of time series), it is difficult to believe that there are reasons for becoming the mem- ber in the case of all pension funds. It means that theoretically, agents of some pension funds should freeze their activity until the results of their institutions have improved or change the funds they represent at the moment. While analysing the above issue in the con- text of a reform of the acquisition market, one can point to three possible solutions:• Partial or complete ban on acquisition and its replacement with other methods of choos- ing the fund (for instance, via Internet).• Change of the acquisition model towards independent pension advisors, responsible for their services.• Elimination of choice of a fund, creation of single funded fund whose management would be entrusted to current Pension Managing Societies (PTEs) (or also other financial institu- tions).It is worth mentioning that the problem of members' acquisition should be seen in much wider context of the whole pension system, i.e. systems of performance evaluation, of pre- sentation of investment limits to members as well as financial education of Poles.

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