Odwrócony kredyt hipoteczny jako źródło uposażenia emerytalnego
Reverse mortgage as a source of pension equipment

Summary/Abstract: The aging of the population is a global, universal and irreversible process, and it affects not only the Polish society. Generally it can be assumed that the advancement of population aging is a process that proceeds parallel with the ongoing social and economic development. Being aware of the changes in the structure of societies, all around the world the social security system is being analyzed and modified, especially the pension system, moving away from the defined benefit system in favor of a defined contribution scheme, containing part of the capital. However, this will not affect the increase of the replacement rate (pension to the last drawn pension), which will decrease and this in turn will lead to the impoverishment of the elderly. This problem is also an issue in Poland. One of the acceptable solutions that will allow pensioners to obtain additional funds from the non-financial assets accumulated during working life is a reverse mortgage. The experiences of the United Kingdom and the United States (those are the most developed product markets when it comes to “equity release”) were used to analyze the solutions adopted in Poland in terms of reverse mortgage. The article is also an attempt to conceptualise the potential directions of this product’s development in Polish realities.

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