Supplementary retirement saving schemes. Premises, aims and economic importance

Abstract

This study presents the demographic and economic rationale for safeguarding dignity and security in old age by supplementing the public pension system with a system of supplementary pension schemes (SPS). The guiding principles for constructing an SPS are additionally presented, and the scope and economic significance of these schemes are elaborated. The data presented below warrant the assertion that SPSs are now a permanent component of the old-age social security system in many countries and constitute a significant portion of their financial assets.

Keywords

• pension system
• private pension saving plans
• employee pension funds
• pension funds
• additional retirement savings