Poland expects pension fund OFE reform, in a shape similar to that presented in July 2016, to be passed by the parliament to the end of the year, deputy PM Mateusz Morawiecki told reporters.
“[The bill] should be passed by the parliament to the end of the year,” Morawiecki said.
The program is needed to increase propensity to save, as 2016 savings rate was “below our ambitions,” the official said.
“We expect no major changes from the point of view of the capital market,” Morawiecki said.
According to that July 2016 outline, Poland was supposed to transfer 25% of assets of pension funds OFE to country’s demographic reserve fund, while remaining 75% would be kept within the funds, which would in turn be transformed to investment funds that would function largely like the current optional pension accounts IKE and IKZE.
Source: The Warsaw Voice
