Przyczyny deficytowości powszechnego systemu emerytalnego w Polsce

The aim of the article is to analyse the causes of the deficit of the Social Insurance Fund (SIF), namely the fund which forms the financial basis of the universal pension system. The article first discusses the factors influencing the financial stability of the SIF and the principles of the universal pension system along with the changes introduced after 1999. Next, the financial analysis of the SIF in 1999–2021 and the financial forecasts for the coming years are provided. It was noted that the actual picture of the SIF’s finances is distorted by large-scale off-budget operations. The article concludes with the statement that although the deficit of the universal pension system is largely due to the assumptions implemented in 1999, later decisions often led to a deterioration of the financial stability of the system.