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Alternative title:

The influence of changes in the Polish Pension System implemented in 2011–2013 on the effectiveness of investments made by Open Pension Funds

Subject and Keywords:

Polish Pension System   Open Pension Funds   effectiveness of investments


The purpose of the article is to present and discuss the most important changes in the Polish pension system implemented in 2011–2013 — in particular regarding its capital part. The first part of the article describes the main legal changes introduced in the analysed period, and the second part focuses on their impact on the effectiveness of investments made by open pension funds. The analysis shows that analyzed legal changes can negatively influence not only the sector of open pension funds itself and their investments, but also the long-term financial stability of the Polish pension system.

Place of publishing:



Wydawnictwo Uniwersytetu Wrocławskiego

Date issued:


Date copyrighted:


Resource Type:



ISSN 0239-6661   ISSN 0137-1134


pol   eng


Acta Universitatis Wratislaviensis, ISSN 0239-6661, No 3627. Przegląd Prawa i Administracji, ISSN 0137-1134, 2014, 99, s. 129-144

Is version of:

Czasopisma Naukowe w Sieci (CNS)

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Copyright by Wydawnictwo Uniwersytetu Wrocławskiego Sp. z o.o.