LEADER 02836nam 2200637Ia 450 001 9910451121803321 005 20200520144314.0 010 $a1-280-94030-1 010 $a9786610940301 010 $a0-8213-7120-7 035 $a(CKB)1000000000289693 035 $a(EBL)459669 035 $a(OCoLC)506982655 035 $a(SSID)ssj0000085959 035 $a(PQKBManifestationID)11122051 035 $a(PQKBTitleCode)TC0000085959 035 $a(PQKBWorkID)10025777 035 $a(PQKB)11627356 035 $a(MiAaPQ)EBC459669 035 $a(Au-PeEL)EBL459669 035 $a(CaPaEBR)ebr10180742 035 $a(CaONFJC)MIL94030 035 $a(OCoLC)935270965 035 $a(EXLCZ)991000000000289693 100 $a20070508d2007 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCompetition and performance in the Polish second pillar$b[electronic resource] /$fby Heinz Rudolph and Roberto Rocha 210 $aWashington, DC $cWorld Bank$d2007 215 $a1 online resource (64 p.) 225 1 $aWorld Bank working paper,$x1726-5878 ;$vno. 107 300 $aDescription based upon print version of record. 311 $a0-8213-7119-3 320 $aIncludes bibliographical references and index. 327 $aContents; Abstract; 1. Introduction; 2. Overview of the Polish Pension System; List of Tables; List of Figures; 3. Structure and Performance of the Second Pillar; 4. Main Regulatory and Supervisory Issues; 5. The Domestic Capital Market; 6. Recommendations for Improving the Performance of the Second Pillar; Appendix; References 330 $aThis paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries: the relatively high component of domestic equity, and the negligible component on international securities. Although this asset allocation has provided relatively high real rates of return in the past, it may not be the case in the future, as further portfolio diversification to other instruments will become necessary to ensure sustainable rates of 410 0$aWorld Bank working paper ;$vno. 107. 606 $aPensions$zPoland 606 $aPension trusts$zPoland 608 $aElectronic books. 615 0$aPensions 615 0$aPension trusts 676 $a363.909172 700 $aRudolph$b Heinz P$0611839 701 $aRocha$b Roberto Rezende$0611838 712 02$aWorld Bank. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910451121803321 996 $aCompetition and performance in the Polish second pillar$92487933 997 $aUNINA