Polish Pension Market Performance in Comparison to Selected Benchmarks
After the great reform of the pension system in Poland in 1999, the several transformations of the new system were performed. The most essential, which changed the rules for the mandatory fully funded pillar, went implemented in 2011 and 2014. The aim of the study is to answer the question if new re...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Centre of Sociological Research, Szczecin, Poland
2017-06-01
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| Series: | Economics & Sociology |
| Subjects: | |
| Online Access: | http://www.economics-sociology.eu/?468,en_polish-pension-market-performance-in-comparison-to-selected-benchmarks |
| _version_ | 1811284436501659648 |
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| author | Dorota Witkowska Krzysztof Kompa |
| author_facet | Dorota Witkowska Krzysztof Kompa |
| author_sort | Dorota Witkowska |
| collection | DOAJ |
| description | After the great reform of the pension system in Poland in 1999, the several transformations of the new system were performed. The most essential, which changed the rules for the mandatory fully funded pillar, went implemented in 2011 and 2014. The aim of the study is to answer the question if new regulations better protect the retirement savings. To obtain this goal we compare the performance of the pension funds to the actual and hypothetical benchmarks which are constructed according to the changes of the pension system, introduced by the Polish government. The research is provided applying several measures of the investment efficiency, for instance Sharpe, Sharpe-Israelsen, Sortino, Treynor and Jensen ratios. |
| first_indexed | 2024-04-13T02:28:36Z |
| format | Article |
| id | doaj.art-8ef9e32762c343529bb3ba914a8e5289 |
| institution | Directory Open Access Journal |
| issn | 2071-789X 2306-3459 |
| language | English |
| last_indexed | 2024-04-13T02:28:36Z |
| publishDate | 2017-06-01 |
| publisher | Centre of Sociological Research, Szczecin, Poland |
| record_format | Article |
| series | Economics & Sociology |
| spelling | doaj.art-8ef9e32762c343529bb3ba914a8e52892022-12-22T03:06:41ZengCentre of Sociological Research, Szczecin, PolandEconomics & Sociology2071-789X2306-34592017-06-0110110.14254/2071-789X.2017/10-1/3Polish Pension Market Performance in Comparison to Selected BenchmarksDorota Witkowska0Krzysztof Kompa1University of LodzWarsaw University of Life SciencesAfter the great reform of the pension system in Poland in 1999, the several transformations of the new system were performed. The most essential, which changed the rules for the mandatory fully funded pillar, went implemented in 2011 and 2014. The aim of the study is to answer the question if new regulations better protect the retirement savings. To obtain this goal we compare the performance of the pension funds to the actual and hypothetical benchmarks which are constructed according to the changes of the pension system, introduced by the Polish government. The research is provided applying several measures of the investment efficiency, for instance Sharpe, Sharpe-Israelsen, Sortino, Treynor and Jensen ratios.http://www.economics-sociology.eu/?468,en_polish-pension-market-performance-in-comparison-to-selected-benchmarkspension fundsinvestment efficiencySharpe ratiosTreynor ratioSortino ratioSharpe-Israelen ratio |
| spellingShingle | Dorota Witkowska Krzysztof Kompa Polish Pension Market Performance in Comparison to Selected Benchmarks Economics & Sociology pension funds investment efficiency Sharpe ratios Treynor ratio Sortino ratio Sharpe-Israelen ratio |
| title | Polish Pension Market Performance in Comparison to Selected Benchmarks |
| title_full | Polish Pension Market Performance in Comparison to Selected Benchmarks |
| title_fullStr | Polish Pension Market Performance in Comparison to Selected Benchmarks |
| title_full_unstemmed | Polish Pension Market Performance in Comparison to Selected Benchmarks |
| title_short | Polish Pension Market Performance in Comparison to Selected Benchmarks |
| title_sort | polish pension market performance in comparison to selected benchmarks |
| topic | pension funds investment efficiency Sharpe ratios Treynor ratio Sortino ratio Sharpe-Israelen ratio |
| url | http://www.economics-sociology.eu/?468,en_polish-pension-market-performance-in-comparison-to-selected-benchmarks |
| work_keys_str_mv | AT dorotawitkowska polishpensionmarketperformanceincomparisontoselectedbenchmarks AT krzysztofkompa polishpensionmarketperformanceincomparisontoselectedbenchmarks |