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The Warsaw Voice » Business » April 20, 2018
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PPK draft bill in a month
April 20, 2018   
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The Polish government will present a corrected version of the employer-sponsored pension program PPK draft bill by mid-May and may have to delay launching the reform until mid-2019 if it takes the parliament until autumn to process the legislation, state development fund PFR Pawel Borys told radio station Tok FM.
"The finance ministry will present a corrected draft by mid-May," Borys said.
The government officially wants to launch PPK as of January 1, 2019. According to the draft bill authored by the finance ministry and presented in February, employees will pay 2% of gross wage and employers 1.5% to fund new PPK pension funds. Participation will be voluntary for employees, but on an opt-out basis.
Investment funds will be in charge of managing the future retirees' money, while PFR will manage infrastructure for PPK and collect fees from fund managers to finance the activity. Poland could also allow pension fund houses PTE to run PPK, according to most recent signals.
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