MARC Record from harvard_bibliographic_metadata

LEADER: 02796nam a2200409Ia 4500
001 011318875-7
005 20071127111551.0
008 070719s2007 dcua b i000 0 eng d
020 $a9780821371190
020 $a0821371193
020 $a9780821371206 (eISBN)
020 $a0821371207 (eISBN)
035 0 $aocn156851285
040 $aDJB$cDJB$dBAKER$dBTCTA$dYDXCP$dMUQ$dUBA
043 $ae-pl---
050 00 $aHD7197.7$b.R83 2007
090 $aHD7197.7$b.R836 2007
100 1 $aRudolph, Heinz P.
245 10 $aCompetition and performance in the Polish second pillar /$cHeinz Rudolph, Roberto Rocha.
260 $aWashington, D.C. :$bWorld Bank,$c2007.
300 $av, 53 p. :$bill. ;$c26 cm.
440 0 $aWorld Bank working paper ;$x1726-5878 ;$vno. 107
504 $aIncludes bibliographical references (p. 51-53).
520 3 $aThis paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries': the relatively high component of domestic equity, and the negligible component on international securities. Although this asset allocation has provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of return. The paper provides a number of recommendations to expand the opportunities of investments to pension funds. The paper finds that pension fund management companies have been able to exploit scale economies in certain areas of the business, such as collection of revenues, and proposes to study mechanisms to enhance them even more by centralizing also the account management system, which may also help to increase portfolio efficiency and competition. The paper suggests that, with the payout phase starting in 2009, broad definitions in areas such as the role of the public and private sector need to be established. The paper examines the products and options that authorities may consider for the design of the payout phase.
650 0 $aPensions$zPoland.
650 0 $aPension trusts$zPoland.
650 6 $aPensions$zPologne.
650 6 $aRégimes de retraite$zPologne.
650 6 $aRégimes privés de retraite$zPologne.
650 6 $aCaisses de retraite$zPologne.
650 7 $aPensões$zPolônia.$2larpcal
650 7 $aFundo de pensão$zPolônia.$2larpcal
700 1 $aRocha, Roberto Rezende.
710 2 $aWorld Bank.
776 08 $iOnline version:$aRudolph, Heinz P.$tCompetition and performance in the Polish second pillar.$dWashington, D.C. : World Bank, 2007$w(OCoLC)654379594
988 $a20071127
906 $0OCLC