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The Warsaw Voice » Business » August 9, 2013
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Final proposal of changes in OFE pension funds in early September: deputy Finance Minister
August 9, 2013   
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Poland will conclude consultations over the planned changes in the capital part of the OFE pension system by the end of August and present the final reform scenario at the beginning of September, deputy Finance Minister Wojciech Kowalczyk told reporters Thursday.

"We will finish consultations on changes in pension funds OFE by the end of August and a concrete solution will be presented at the beginning of September," Kowalczyk said.

The three reform scenarios presented "are still valid" and "will constitute a base for the final solution," Kowalczyk added.

Poland is watching the pension funds behavior on the stock and debt markets, the official said when asked if the reform plans triggered capital outflow from the markets.

Poland has kicked off a debate over the planned changes to its partially privatized pension system, presenting three potential scenarios of reform on June 26. The scenarios include liquidation of the Treasury-bond portfolio of private pension funds OFE, while raising OFE premium to 2.92%, and two solutions assuming free choice between OFE and state social security office ZUS.
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