Statutory Limitations as a Potential Source of Inefficiency in Employee Capital Plans (ppk) in Poland
Year: 2025
Type: article
Abstract: The growing importance of pension funds and the changing demographic and market conditions in Poland require an assessment of the investment efficiency to ensure the financial security of future retirees. The aim of the study is to determine the investment efficiency of pension funds, considering portfolio management, composition and synchronization with stock market indices. The study examines whether the requirement to invest part of the funds in companies listed in the WIG20 and related instruments leads to inefficiency. This quantitative research evaluates PPK funds in comparison with other pension funds, focusing on portfolio management strategies. Key market indicators, including WIG, WIG20, 10-year treasury bonds and inflation, were analysed. Synchronization with indices was assessed using the correlation coefficient of return rates. The results indicate that during the analysed period, OFE funds achieved higher average returns, while PPK funds exhibited lower volatility, as measured by the standard deviation of returns. These results provide insights and offer recommendations for improving the effectiveness of PPK in ensuring financial security amid capital market fluctuations and demographic challenges.
Authors: Grzegorz PRZEKOTA, Anna SZCZEPAŃSKA-PRZEKOTA, Anna KOWAL-PAWUL, Maciej HADŁAW
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $48
OpenAlex ID: W7106040395
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