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Cabinet to Discuss Pension Reforms at Tomorrow's Sitting

POLAND
  • Polish cabinet to discuss reform of private pension funds OFE at tomorrow's sitting
  • Plans to transform pension funds OFE into pension accounts IKE as of Ja 28, 2022, according to a draft bill from mid-Feb
  • Expects a PLN 4.5 bln positive impact from OFE wind-down on public finance sector in 2021, to be followed by PLN 12.5 bln positive impact in 2022
  • Also expects PLN 11.1 bln total inflow into the social insurance fund FUS from the 15% transition fee as the pre-tax moneys are put into a post-tax retirement savings format, to be paid in two installments in 2022.
  • New legislation assumes that some 50% of Poles will convert their OFE moneys to individual pension accounts IKE
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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