Wpływ redystrybucji na wysokość świadczeń z polskiego bazowego systemu emerytalnego o zdefiniowanej składce

In 1999, Poland implemented significant pension system reform in response to rising public pension expenditures and the threat of an unsustainable system. Th e  reform has totally changed both the financing and pension formula. A generously  defined benefit formula has been replaced with a multi -pillared defined contribution  system. The reform was positively assessed by the public opinion, although  replacement rates have been seriously cut. This acceptance was made possible  mainly by introducing individual funded pension accounts convincing the participants  that they owe their pension capital. Changes to the pension formula and  diversified methods of financing reduced income redistribution within the system  and the redistributive tools adopted in the pension mechanism. Lower replacement  rates and benefits promised by the new system may cause huge demand for  minimum pension guarantee payments in the future.  This article describes the influence of pension reform on income transfers  between different groups of its participants. It considers the direction and the  degree of pension redistribution within both the old and the new mandatory  pension system in Poland. It consists of four parts: The first is devoted to pension  formula before and aft er the reform; the second presents and describes in detail redistributive elements used in Polish statutory pension system. Thirdly,  various measures of income redistribution used for social security are enumerated.  The final part examines the income redistribution between different groups  of pensioners using the pension benefits, replacements rates and internal rates  of return.