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The Warsaw Voice » Business » February 20, 2018
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PFR's head on PPK
February 20, 2018   
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Pawel Borys
Poland should enjoy some PLN 150-300 billion inflow of additional funds within 10 years that will fuel the domestic economy thanks to establishing employer-sponsored pension plans PPK, state development fund PFR head Pawel Borys said in an interview for the daily Dziennik Gazeta Prawna.
An initial 50% participation rate would be a success, while "with time, a level of above 70% is absolutely realistic." PPK should offer a payout at the level of 25% of last-earned wage assuming a 40-year saving period and 3.5% premium, Borys estimates.
Should Polish insurance firms or pension fund managers PTE be interested in offering PPK products, now is the good time to file a respective motion to the Finance and Labor Ministries.
PPK are completely different than private pension funds OFE and should not cause such problems as OFE did, including undermining of Poles' trust in the funds, Borys stressed.
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