Savings of Households Run by Self-Employed Persons in Rural Areas in Poland

Krupa, Dorota; Walczak, Damian

doi:10.1007/978-3-319-22593-7_34

Cited by 4 publications

(2 citation statements)

References 7 publications

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“…Hence, we may suppose that the characteristics are dependent. If χ 2 < χ(df,α) 2 , there is no reason to reject H0, assuming the characteristics are independent (Krupa and Walczak, 2016;Adegbite et al, 2019). The description of particular variables studied in the paper is presented in Table 1.…”

Section: Research Objective Methodology and Datamentioning

confidence: 99%

Old-Age Savings Behaviour - Is Gender an Important Factor?

Krupa¹,

Walczak²

2021

ERSJ

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Purpose: The purpose of this paper is to determine whether men and women exhibit different patterns of saving for old age outside the pension system and whether women's education and income determine their old-age savings behaviour. Design/Methodology/Approach: The analyses presented in this paper derive from a representative study that covered 1,000 individuals and was conducted in Poland. The chisquare test of independence (χ2 test) was used for each pair of chracteristics. Findings: The research confirmed that men and women exhibit different patterns of saving for old age. This discrepancy was confirmed in a study which concerned old-age savings and was conducted among men and women (general study) without considering the respondents' age. The general study did not prove the relationship between gender and the savings amount. In the case of the groups in which the respondents' age was taken into account, the relationship between gender and the possession of savings was confirmed in the group of respondents over 49 years of age. Women over 49 years of age save less frequently than their male peers. With regard to the relationship between gender and the savings amount in particular age groups covered in the study, our research showed that such a relationship exists in the group of respondents below 40 years of age. The analyses conducted in the women-only group demonstrate the existence of a relationship between education and the possession of old-age savings. We also confirmed that the possession of old-age savings among women depends on their personal income. Practical Implications: In order to incentivise women to save for old age, the state should encourage them to display appropriate savings behaviour and strengthen the factors influencing this behaviour. It is also necessary that educational programmes and initiatives oriented at strengthening women's financial security should be provided. Originality/Value: The studies discussed in this paper emphasise different approaches to saving for old age among men and women. This issue is becoming increasingly important from the social aspect as the non-saving women receive ever lower pensions, which can result in lack of women's financial security in inadequate pension systems.

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Section: Research Objective Methodology and Datamentioning

confidence: 99%

Old-Age Savings Behaviour - Is Gender an Important Factor?

Krupa¹,

Walczak²

2021

ERSJ

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“…The factors that determine the retirement savings of self-employed persons are examined much less frequently than in the case of households (Ramnath et al, 2017;Parker et al, 2007;Bednarczyk et al, 2021). Here, as well, the basic category of factors which in empirical research turned out to be statistically significant for retirement savings were demographic factors, such as: age, family status, place of residence of the selfemployed (DeVaney et al, 1997;DeVaney et al, 1998;Szczygieł et al, 2018;Krupa et al, 2016). Investment decisions also have a significant impact on the propensity to accumulate retirement savings by individual entrepreneurs, because most of their financial and tangible assets (real estate) are also assets of their enterprise.…”

Section: Review Of the Literature On The Factors Influencing The Savi...mentioning

confidence: 99%

Life insurance with insurance capital funds as a form retirement savings: Determinants for the self-employed

Bednarczyk,

Szymańska,

Ostrowska-Dankiewicz

et al. 2023

Journal of International Studies

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Reduction of the public pension system generosity should encourage all future retirees to accumulate private retirement savings. They have many options in this area, both dedicated pension programs (pension pillars), and a whole range of financial market investment instruments (non-pillar solutions). The main objective of the paper was the empirical identification of factors that determine the level and propensity to save in the form of life insurance with insurance capital funds for retirement purposes by self-employed persons in Poland. The microeconomic perspective of considerations was adopted in the research process. On the basis of a review of economic literature, a set of individual characteristics that affect savings decisions of natural persons was distinguished, then an attempt was made to find out whether the same groups of factors also determined the individual decisions of self-employed persons regarding saving for retirement in the form of insurance capital funds. The following research hypothesis was verified: Ownership of retirement savings in the form of life insurance with insurance capital funds by self-employed natural persons in Poland is determined both by social and economic factors, and the impact of these factors varies. The empirical study showed that the accumulation of retirement savings by self-employed persons in the form of life insurance with insurance capital funds was the least important way to supplement the future pension from the public pillar. Self-employed persons are characterized by a relatively high propensity to save for retirement (higher than the average propensity to save in Poland), prefer non-pillar forms of collecting voluntary savings for retirement, primarily in the form of real estate. The strength of the social and economic factors varies.

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Determinants of the Behaviour of Entities on the Insurance Market in the Light of Changes Introduced by the IDD Directive

Fras,

Pauch,

Walczak

et al. 2024

J Consum Policy

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One of the most significant legal acts concerning the sale and management of insurance risk was issued on January 20, 2016, based on Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (IDD Directive). The adoption of European IDD principles aims to enhance transparency in the operations of insurance distributors and improve the standards of their business practices. Its protective scope encompasses all individuals and entities involved in the sale of insurance products. The aim of the article is to ascertain the regulatory authorities’ impact on the insurance market, consideration of consumer protection, in light of the changes introduced by the IDD directive. The primary entities under examination, in the mentioned context of consumer protection, are distributors and supervisory authorities. The discussion includes an overview of the scale of the insurance market and its fundamental applications, as well as compliance within the framework of behavioural economics theory. Additionally, the paper addresses the aspect of threats posed to consumers by the analyzed changes in the European insurance distribution market. In this segment, the authors concentrate on the economic and social ramifications of IDD implementation for entities operating within the insurance market. The concluding section outlines the potential for development and the future prospects of financial intermediation concerning IDD utilization.

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Savings of Households Run by Self-Employed Persons in Rural Areas in Poland

Cited by 4 publications

References 7 publications

Old-Age Savings Behaviour - Is Gender an Important Factor?

Old-Age Savings Behaviour - Is Gender an Important Factor?

Life insurance with insurance capital funds as a form retirement savings: Determinants for the self-employed

Determinants of the Behaviour of Entities on the Insurance Market in the Light of Changes Introduced by the IDD Directive

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