Lowering the retirement age is contrary to the plan of Mateusz Morawiecki, Minister of Economy, which rightly linked in one of the documents the decline in working-age population with a slowdown in economic growth. It will put a drag on catching up with the Western Europe’s living standards.
Ageing of the Polish society means that every year more and more people will reach the retirement age. At the same time, the number of people of working age will be decreasing. In this context, it appears that the pension system reform implemented in 1999 introduced a not very fortunate principle to the Polish pension system.
Demographic change is not a tsunami. It proceeds gradually but steadily, just as the ocean’s tide. It can be foreseen if we simply choose to open our eyes and look at facts.
Just before Christmas, it became clear that the prime minister and the two major labor unions had signed a memorandum which not only prevents raising the retirement age, but also fundamentally changes the pension model of Bulgaria. Noteworthy, the main agents behind this decision were the same people who in 2010 decided to steal 100 million leva from professional pension funds, thus breaking the Constitution.
The Economic Council to the Prime Minister of Poland has published its comments about the changes in the Open Pension Fund (OFE). Because the professors have subscribed to them, we cannot say that they are another act of audacity, but quite a reasonable analysis. The only problematic thing is the fact that from correctly diagnosed premises, the professors draw quite puzzling conclusions, which are difficult to agree with.
Greek déjá vu. Empty Portuguese highways. French reform which has never been carried out.
The Nordic pension schemes’ primary characteristic is the high effective retirement age, which was achieved thanks to the limitation of the possibility of earlier professional deactivation and to the creation of numerous encouragements for longer presence in the labour market.