Aging Poland: Can the Doomsday Scenario Be Avoided?
The Doomsday Scenario of too few workers unable to support too many pensioners dominates the public debate about travails of the Polish pension system in not so distant future of the generation currently entering the labor market. We discuss the risk of the Doomsday Scenario, and under what condit...
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| Format: | Article |
| Language: | English |
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Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
2016-06-01
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| Series: | Problemy Zarządzania |
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| Online Access: | https://pz.wz.uw.edu.pl/resources/html/article/details?id=169830 |
| Summary: | The Doomsday Scenario of too few workers unable to support too many pensioners dominates the public
debate about travails of the Polish pension system in not so distant future of the generation currently
entering the labor market. We discuss the risk of the Doomsday Scenario, and under what conditions
it can be avoided. To that end, we analyze two stylized scenarios: continuation of the current model
of intergenerational solidarity between current and past employees, and the case of solidarity of the
society at large. We show that the narration that “there will be too few workers to support too many
pensioners” is just wrong, both, in terms of necessary financial resources and emerging challenges
of the global economy. Poland, as many other countries, must face the challenge of radical reform of
the pension system, reform going far beyond the age of retirement. The main challenge will be bigger
diversification of available financial products for financing pensions as well as broadening the base of
contributors beyond workers. |
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| ISSN: | 1644-9584 2300-8792 |