Consultations on capital pension system reform will launch in Q2

Poland will send draft legislation on revamping of its capital pension savings system to consultations in Q2, the Social Dialogue Council wrote in a statement. “The complete set of bills implementing the changes, concerning both capital pension plans and changes to private pension funds OFE system, is ready,” state-run development fund PFR head Paweł Borys said. “I hope they will enter the legislative path in April,” he added. Poland plans to transfer 25 percent of pension savings from the open pension funds (OFEs) to the state Demographic Reserve Fund and convert the remaining ones into private investment funds.