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The Warsaw Voice » Law » May 12, 2017
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Demographic Reserve Fund
May 12, 2017   
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Poland is still deciding what part of pension savings collected at pension funds OFE to transfer to the Demographic Reserve Fund, with the Labor Ministry calling for a bigger share than the 25% proposed by the Development Ministry, the daily Dziennik Gazeta Prawna wrote citing a person close to the latter.
The Labor Ministry is to prepare remarks to the pension system reform bills by the end of May, a postponement vs. the initial end-April deadline due to divergent opinions. An increase beyond 25% of assets would entail transfer of not only bank deposits and foreign stocks, but also Polish equities, which could cause a sell-off on the WSE, the daily wrote. The changes would not be welcome by the public and could endanger the Responsible Development Strategy, pension funds' association IGTE head Malgorzata Rusewicz commented. The Labor Ministry fears shortage of money in the public system.
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