<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Subject and purpose of work:</bold> The subject of this paper was to assess the old-age pension insurance in ZUS (Social Insurance Institution) and KRUS (Agricultural Social Insurance Fund) from the perspective of a person insured and the public finances. The purpose of the study was to calculate the difference in saving efficiency of the insured in ZUS and KRUS.<bold>Materials and methods:</bold> The study uses literature in the field of social security, legal acts, mass statistics data, and statistical data of KRUS and ZUS. Descriptive and financial analysis methods were used. The results of the study were presented using the tabular method.<bold>Results:</bold> As a result of the analysis, it was found that currently the income adequacy of old-age pension insurance in Poland is about 50%. It is much lower than what is considered optimal, which is estimated at 70%. The share of subsidies for old-age pension insurance in budget expenditure in Poland is growing and in 2018 this ratio was 16.16%.<bold>Conclusions:</bold> The efficiency of saving in old-age pension insurance in KRUS is over 6 times higher than the efficiency of old-age pension saving in ZUS.</abstract>

Subject and purpose of work: The subject of this paper was to assess the old-age pension insurance in ZUS (Social Insurance Institution) and KRUS (Agricultural Social Insurance Fund) from the perspective of a person insured and the public finances. The purpose of the study was to calculate the difference in saving efficiency of the insured in ZUS and KRUS.Materials and methods: The study uses literature in the field of social security, legal acts, mass statistics data, and statistical data of KRUS and ZUS. Descriptive and financial analysis methods were used. The results of the study were presented using the tabular method.Results: As a result of the analysis, it was found that currently the income adequacy of old-age pension insurance in Poland is about 50%. It is much lower than what is considered optimal, which is estimated at 70%. The share of subsidies for old-age pension insurance in budget expenditure in Poland is growing and in 2018 this ratio was 16.16%.Conclusions: The efficiency of saving in old-age pension insurance in KRUS is over 6 times higher than the efficiency of old-age pension saving in ZUS.

Old-Age Pension Insurance in ZUS and KRUS in the Context of the Insured and Public Finances

Economic and Regional Studies / Studia Ekonomiczne i Regionalne

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Subject and purpose of work: The subject of this paper was to assess the old-age pension insurance in ZUS (Social Insurance Institution) and KRUS (Agricultural...

Old-Age Pension Insurance in ZUS and KRUS in the Context of the Insured and Public Finances

Published Online: Sep 30, 2019

Page range: 312 - 325

Received: Aug 01, 2019

Accepted: Aug 01, 2019

DOI: https://doi.org/10.2478/ers-2019-0028

Keywords
old-age pension insurance, ZUS, KRUS, income adequacy, subsidy, government budget, efficiency, contributions, retirement

© 2019 Łukasz Podstawka, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Old-Age Pension Insurance in ZUS and KRUS in the Context of the Insured and Public Finances

Published Online: Sep 30, 2019

Page range: 312 - 325

Received: Aug 01, 2019

Accepted: Aug 01, 2019

DOI: https://doi.org/10.2478/ers-2019-0028

Keywordsold-age pension insurance, ZUS, KRUS, income adequacy, subsidy, government budget, efficiency, contributions, retirement

© 2019 Łukasz Podstawka, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
old-age pension insurance, ZUS, KRUS, income adequacy, subsidy, government budget, efficiency, contributions, retirement