Does the Pan-European Personal Pension Product Suit All? Its Perspectives in the EU Member and Candidate Countries

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dc.authoridHuterska, Agnieszka/0000-0002-4722-2853
dc.authoridKorzeniowska, Anna M/0000-0001-9809-5260
dc.authoridSusmus, Turker/0000-0002-7068-6576
dc.contributor.authorKochaniak, Katarzyna
dc.contributor.authorKorzeniowska, Anna Magdalena
dc.contributor.authorHuterska, Agnieszka Anna
dc.contributor.authorDemirhan, Dilek
dc.contributor.authorSusmus, Turker
dc.date.accessioned2024-08-31T07:49:58Z
dc.date.available2024-08-31T07:49:58Z
dc.date.issued2023
dc.departmentEge Üniversitesien_US
dc.description.abstractThis article aims to verify the development prospects of the Pan-European Personal Pension Product (PEPP) in the European Union (EU). It focuses on the relationship between the quality of domestic public pension schemes and household savings for old age in the EU member and candidate countries. The study was conducted in two stages. The first stage examined the interrelationship between public pension schemes and household savings based on Pearson's correlation coefficients. In the second stage, sub-samples of countries with high and low-quality public pension schemes were identified using hierarchical cluster analysis. The results showed significant links between households' obligatory and voluntary saving for retirement in both samples. However, the study recognised the internal diversity of countries in terms of households' preferences for the types of financial assets. Based on these findings, conclusions about the de-velopment potential of PEPP are drawn. The best prospects are identified for Croatia, Cyprus, France, Greece, Hungary, Poland, Portugal, Romania, Slovenia, Spain, and Turkey. In most of these countries (except for France, Hungary, Romania, and Spain), the PEPP could serve as an alter-native to household liquid assets. However, in Croatia, France and Italy, it was recognised as competing with existing domestic retirement and life insurance products, which may negatively impact its development. This is the first comprehensive study of the prospects of PEPP in a large group of countries. The results provide socially essential knowledge as they address the role of private savings in supplementing households' future income from public pension schemes, considering the availability of a new product such as PEPP.en_US
dc.description.sponsorshipNicolaus Copernicus Universityen_US
dc.description.sponsorshipThis work was supported by Nicolaus Copernicus University's Excellence Initiative-Research University programme for 2020-2026.en_US
dc.identifier.doi10.18778/1508-2008.26.35
dc.identifier.issn1508-2008
dc.identifier.issn2082-6737
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-85181939754en_US
dc.identifier.scopusqualityQ3en_US
dc.identifier.urihttps://doi.org/10.18778/1508-2008.26.35
dc.identifier.urihttps://hdl.handle.net/11454/105061
dc.identifier.volume26en_US
dc.identifier.wosWOS:001134797500008en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherLodz Univ Pressen_US
dc.relation.ispartofComparative Economic Research-Central and Eastern Europeen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240831_Uen_US
dc.subjectPan-European Personal Pension Producten_US
dc.subjectPublic Pension Schemesen_US
dc.subjectSaving For Old Ageen_US
dc.subjectHouseholden_US
dc.subjectRetirementen_US
dc.titleDoes the Pan-European Personal Pension Product Suit All? Its Perspectives in the EU Member and Candidate Countriesen_US
dc.typeArticleen_US

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