Welfare Reform on the Web (August 2004): Pensions - Overseas

CHANGES IN PENSION SCHEMES IN POLAND: THEIR CAUSES AND CONSEQUENCES

K. Kietlinska and K. Piotrowska-Marczak

Public Management Review, vol.6, 2004, p.273-284

The reformed pension scheme in Poland has been built on three pillars:

• Pillar 1 is a redistribution-based pay-as-you-go scheme managed by the Social Insurance Fund;
• Pillar 2 is compulsory insurance for all individuals using the capital reserve approach and managed by Open Pension Funds;
• Pillar 3 is voluntary supplementary insurance.

Article goes on to compare Polish pension reforms with those in other Central and East European countries.

PROJECTED SPENDING ON PENSIONS IN SPAIN: A VIABILITY ANALYSIS

J.F. Del Brio Carretero and M. de la Concepcion Gonzalez Rabanal

International Social Security Review, vol.57, July-September 2004, p.91-109

The viability of pay-as-you-go retirement pension schemes, such as that of Spain, remains a subject of debate. Argues that predictions of the collapse of the Spanish scheme due to population ageing may be wrong, because they ignore the effects of mass immigration. If the current influx of young migrants continues, the problem of viability can be solved.