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The Warsaw Voice » Business » News - March 11, 2010
FinMin Favors Capital from Private Pension Funds Transferred to 'Safe Fund'
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Poland's Finance Ministry would like to see the capital gathered by future pensioners in private pension funds transferred to a safe fund, not necessarily ZUS, Finance Minister Jacek Rostowski said in public radio Trójka.

"Those means [gathered in OFE] should be transferred from OFE to ZUS in tranches so as not to transfer them at one go in a year which could be a good year for the premium payer or a bad one if they are not lucky," Rostowski said of Finance Ministry's proposal in the consultations with other ministries.

"I believe everybody agrees and OFE also agree that safe funds are necessary for people who are approaching the end of their professional life and such safe funds would be less dependent or rather independent of what is going on the stock exchange," Rostowski said.

However, the Finance Ministry remains flexible as for whether the safe fund should imply social insurance board ZUS.
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