Plans to do away with private pension funds get green light: report

Last year, Deputy Prime Minister Mateusz Morawiecki, who also heads Poland’s finance and development ministries, floated a plan to shift 25 percent of private pension fund contributions to a state fund aimed at securing the solvency of retirement benefits, and the rest to institutions which would allow elderly to manage their investments, the daily said.

The paper claimed that Labour Minister Elżbieta Rafalska has agreed to the plan after initially opposing the idea, wanting instead for OFE contributions to be transferred to Poland’s Social Insurance Institution (ZUS), the daily said. (vb)