Association of Capital Market Payout phase in Poland Pawel Pelc Deputy President of the Association of Capital Market UNFE

Slides:

Advertisements

Similar presentations

Agnes Matits Working Party on Private Pensions, June 2000, Paris Agnes Matits Working Party on Private Pensions, June 2000, Paris Governance of the Hungarian.

Advertisements

Developments in the Organisational Structures of Banking and Financial Market Supervision: Aligning Organisational Solutions with the Countrys Needs National.

Retirement Workshop (PERF & TRF).

Impact of a GM Bankruptcy GMSSPP or GMPSP 401(K) Promark Income Fund Pension Plan Pension Benefit Guarantee Corporation Can I rollover all or part of my.

Agency for the Supervision of Fully Funded Pension Insurance (MAPAS) Preparing the Financial Market for an Aging Population - The case of Macedonia Zorica.

PENSION SYSTEM IN REPUBLIC OF MACEDONIA. Pension system, key institutions Ministry of Labor and Social Policy Pension and Disability Insurance Fund of.

Pension System Reform in the Republic of Macedonia Kiev, May 2004.

1 NUI Galway Group PRSA Scheme Personal Retirement Savings Account -suitable for non-pensionable employees Noel Hackett QFA New Ireland Assurance Atlanta.

Mandatory Savings and Retirement Adequacy: A Portfolio Simulation of EPF in Sri Lanka Wasana Karunarathne The University of Melbourne.

What Must You Know to Determine Retirement Savings Needs? 6 key questions.

McGraw-Hill /Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved Chapter Eighteen Pension Funds.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Reporting and Interpreting Liabilities Chapter 9.

Engage with your Pension Dublin Chamber of Commerce Tuesday 19 October 2010 David Malone Head of Information The Pensions Board.

Payout Phase in Supplementary Pension Insurance in Bulgaria - Current State and Perspectives Valentina Dinkova Financial Supervision Commission Sofia,

Accumulative Pension System of the Republic of Kazakhstan, Bangkok, April 27-28, 2005 Prepared by Gulnara Alimbayeva.

Regulating Withdrawals in Individual Account Systems Jan Walliser The World Bank Africa Region, PREM4.

Annuities Brett Hickey Adam Greenberg. What is an annuity? How do annuities work? Annuity: Distribution of money earned from profits from investments.

Learning Objective # 5 Determine your planned retirement income. LO#5.

Irish Women Lawyers Association 4 July 2009 David Malone Head of Information The Pensions Board Missing - Our future Women and the Great Pensions Robbery.

11/27/2007 Pension Reforms in China and Taiwan Hongxia Jiao Yi-Ying Chen.

Private Pension Insurance in the Czech Republic The Decumulation Phase Seminar on Private Pension Provision, Tallinn, Štěpánka Pollnerová.

PENSION REFORM EXPERIENCES IN CENTRAL AND EASTERN EUROPE Agnieszka Chlon-Dominczak Ministry of Economy, Labour and Social Policy, Poland Kiev, May 28th,

Nicholas Sherry Senior Advisor on Pensions & Superannuation, ERNST & YOUNG (AUSTRALIA) Friday,

Primitive Methodist Investment Foundation, Inc. Primitive Methodist Investment Foundation, Inc. Sharing Faith Building the Future of Primitive Methodist.

Minimum Pension Guarantee in Poland Zofia Czepulis-Rutkowska Seminar for social security actuaries and statisticians: actuarial aspects of pension reform.

The Challenges before the Bulgarian Pension Funds Pawel Pelc Deputy President of Capital Market Association.

How to arrange the pay out of pensions: Going Dutch Gaby Schellekens, Directorate of Industrial Relations Ministry of Social Affairs and Employment The.

Brazilian Private Pension System Brazilian Private Pension System Hélio Portocarrero Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

The Payout Stage in Chile and Singapore--and implications for older women by Estelle James.

1 INTRODUCTION OF MULTIFUNDS IN THE BULGARIAN PENSION SYSTEM. READINESS FOR THE START! БАДДПО Nikola Abadjiev Chairman of BASPSC International Conference.

Nearing Retirement? Insurance Concepts. Facts: You must wind up your RRSP’s before the end of the year in which you turn 69. At this point, you must either:

Chapter 11.1 notes. Saving Saving = not spending $ Investment – use of income today for a future benefit.

1 Chapter 2 Flow and Sources of Real Estate Funds.

.  Today the average American lives eighteen years in retirement  A retirement plan, like insurance, transfer risk  You buy health insurance when.

NP (11/09) Cat# For Financial Professional Use Only. Not for Distribution to the Public. AXA Advanced Markets Retirement Income Worksheet.

The role of funded pillar in pension schemes Zbigniew Derdziuk the President of Social Insurance Institution Moscow, 1st November 2011.

Domestic Workers Support Group Pensions Information and Awareness 12 August 2007 Ciarán Holahan Information Unit The Pensions Board.

Design features of an IA System: What Can We Learn from Other Countries? By Estelle James.

Attract & Retain Your Employees Build & Preserve Your Business Protect Your Family Larry Ricke and Mike Ricke are registered representatives offering securities.

Regulatory Institutions in Turkey. Regulatory Institutions Central Bank of Turkey Banking Supervision and Regulatory Institutions Capital Markets Board.

© Copyright 2010, The NASDAQ OMX Group, Inc. All rights reserved. NEW ROLES OF CENTRAL SECURITIES DEPOSITORIES HAYK VOSKANYAN, CENTRAL DEPOSITORY OF ARMENIA.

Present Worth of Annuities make equal payments The present value of an annuity that pays out n regular payments of $R at the end of each time period from.

Planning For the Future Financial Literacy Copper Hills High School.

Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. Telephone calls may be recorded.

Developing Annuities Markets: The Experience of Chile Roberto Rocha

Chapter 8 – Pension Funds BA 543 Financial Markets and Institutions.

New Pension System in Poland - How to Classify in Accordance with SNA 93 and ESA 95 Krzysztof Pater Undersecretary of State Ministry of Economy, Labour.

1 M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 9 – Financial Services Bilateral.

CHAPTER 6 NOTES. Statement savings account: savings account where the depositor receives a monthly statement showing all transactions. Money market deposit.

McGraw-Hill /Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved Chapter Nineteen Pension Funds.

1 M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 9 – Financial Services Bilateral.

1 SocialInsurance Institution (ZUS). 2 Social insurance Their main objective is to provide financial security for the elderly, incapable of work persons,

Mercer Human Resource Consulting Limited is authorised and regulated by the Financial Services Authority Registered in England No Registered Office:

Financing pension system in a country in transition - Poland Zofia Rutkowska Polish Social Insurance Institution - ZUS.

M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 19 – Social Policy and Employment.

Summary of the financial intermediation system 1 General Public Companies Government Savers Investors Provide funds Pay returns on those funds.

ISSUES IN THE PAYOUT PHASE

PRESENTATION OF MONTENEGRO

Pension reform and private pension funds in Poland: Goals and Facts.

O’Connor Sutton Cronin CPD Pension Presentation

Old-age pensions in Poland and worldwide

Lithuanian pension system and reforms MISSOC Network Meeting Vilnius, October Ministry of Social protection and Labour.

SLOVAKIA : OLD-AGE PENSION SAVINGS („II. PILLAR“)

Ten Great Charitable Planning Ideas for 2018

PENSION SYSTEM IN REPUBLIC OF MACEDONIA.

FISCAL & BANKING REFORMS IN MOLDOVA

The Swedish Premium Pension Plan

Ch. 11 Financial Markets.

Individual Pension Plans

31 countries 28 % 81 countries 72 %

Presentation transcript:

Association of Capital Market Payout phase in Poland Pawel Pelc Deputy President of the Association of Capital Market UNFE

Association of Capital Market Plan of the presentation Mandatory open pension funds Payout phase regulation Draft of the annuities law Who should pay benefits The form of payouts Report Security through pension (UNFE 2002)

Association of Capital Market Open pension funds Open pension funds are vehicles for saving phase. Open pension funds are privately managed legal entities created to invest pension contribution

Association of Capital Market Payout phase in Polish law According to pension funds law (art. 111) the payout of the savings accrued on the individual account is implemented through transfer of those sources to the chosen by member of the fund annuity company in which he bought lifelong annuity.

Association of Capital Market Draft of the annuities law Draft of the annuities law was send to the parliament on June 1998 and wasn’t voted up to the end of period of the parliament (2001) According to the draft law, annuity should be paid by specially created annuity companies in a form with guarantied period of payment of without, single or for a couple

Association of Capital Market Who should pay the benefit Pension fund? Annuity Company? Life insurance company? Social Security Institute? Specially created state owned institution? Centralized – decentralized model Private – public management

Association of Capital Market The form of payouts Long life annuity Programmed withdrawal Lump sum Unisex or separate gender tables of expected longer life should be used for annuities Single or couple Problem of costs

Association of Capital Market Security through benefit In the early 2002 UNFE (Superintendency of Pension Funds) has prepared report Security through benefit – about the payout phase regulation According to the report the annuities should be sold by private insurance institutions (or specially created annuity companies or life insurance companies) in the form family pension, but through Social Security Institute to reduce costs Partial programmed withdrawal was also analyzed.

Association of Capital Market Thank you for your attention You can contact me by