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MEDIA-Poland may put pension system overhaul on hold- Dziennik Gazeta Prawna
September 25, 2017 / 7:11 AM / 3 months ago

MEDIA-Poland may put pension system overhaul on hold- Dziennik Gazeta Prawna

* Poland may shelve planned changes to the pension system due to lack of agreement within the government over the final shape of the reform, Dziennik Gazeta Prawna daily reported on Monday quoting unnamed sources.

* Poland initially approved a plan to move 25 percent of assets of state-guaranteed and privately-managed pension funds - called OFE - to a state-run vehicle at the end of 2016, but the final decision was expected by the end of this year.

* Work on the reform has stopped though, most likely due to differences in opinion over its final shape, Dziennik Gazeta Prawna said.

* According to local media, the plan to transfer some of the funds’ assets, backed by the Deputy Prime Minister Mateusz Morawiecki, was criticized by the Labour Minister Elzbieta Rafalska.

* Some ministers from the ruling Law and Justice party (PiS) have supported the idea of moving all the OFE funds’ assets to the state-run vehicle.

* Pension funds OFE used to be active players on the Warsaw Stock Exchange and any changes to the system might have an impact on the bourse. -- Note: Reuters has not verified this story and does not vouch for its accuracy. (Warsaw newsroom)

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