<abstract xmlns="http://www.w3.org/1999/xhtml">
<p>The study analyzes and assesses the economic and linguistic complexity of individual retirement products in Poland. For this purpose, an original multidimensional approach was used and various research methods were applied. We analyzed 75 out of 86 individual pension products (IKEs and IKZEs) offered in Poland in the first half of 2017, covering our analysis of nearly 90% of Poland’s market of individual pension products. We performed the nonparametric Spearman’s rank correlation analysis, we used hierarchical cluster analysis, analysis of variance, and a chi-square test to verify if there was a statistical relationship between the clusters and the type of financial provider and the type of individual pension product (IKE or IKZE). We also built also a map of the products that shows their economic and linguistic complexity. We find that high-fee products tend to have the most complex fee systems, suggesting that the complex fee system may be a strategy used by the providers of individual retirement products. Our results also indicate that individual retirement products are too complex for most individuals.</p>
</abstract>

The study analyzes and assesses the economic and linguistic complexity of individual retirement products in Poland. For this purpose, an original multidimensional approach was used and various research methods were applied. We analyzed 75 out of 86 individual pension products (IKEs and IKZEs) offered in Poland in the first half of 2017, covering our analysis of nearly 90% of Poland’s market of individual pension products. We performed the nonparametric Spearman’s rank correlation analysis, we used hierarchical cluster analysis, analysis of variance, and a chi-square test to verify if there was a statistical relationship between the clusters and the type of financial provider and the type of individual pension product (IKE or IKZE). We also built also a map of the products that shows their economic and linguistic complexity. We find that high-fee products tend to have the most complex fee systems, suggesting that the complex fee system may be a strategy used by the providers of individual retirement products. Our results also indicate that individual retirement products are too complex for most individuals.

Complex pension products: A multidimensional approach

SGH Warsaw School of Economics, Institute of Statistics and Demography

Financial Internet Quarterly

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

{"article-title":"Complex pension products: A multidimensional approach"}

The study analyzes and assesses the economic and linguistic complexity of individual retirement products in Poland. For this purpose, an original...

Complex pension products: A multidimensional approach

Data publikacji: 19 mar 2024

Zakres stron: 14 - 28

Otrzymano: 15 lis 2023

Przyjęty: 02 sty 2024

DOI: https://doi.org/10.2478/fiqf-2024-0002

Słowa kluczowe
Supplementary Pension Plans, Individual Retirement Accounts, Linguistic Complexity, Economic Complexity, Investments

© 2024 Joanna Rutecka-Góra et al., published by Sciendo

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

Complex pension products: A multidimensional approach

Data publikacji: 19 mar 2024

Zakres stron: 14 - 28

Otrzymano: 15 lis 2023

Przyjęty: 02 sty 2024

DOI: https://doi.org/10.2478/fiqf-2024-0002

Słowa kluczoweSupplementary Pension Plans, Individual Retirement Accounts, Linguistic Complexity, Economic Complexity, Investments

© 2024 Joanna Rutecka-Góra et al., published by Sciendo

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

Słowa kluczowe
Supplementary Pension Plans, Individual Retirement Accounts, Linguistic Complexity, Economic Complexity, Investments