Good rates of return for majority of open pension funds over last 2 years

The Pension Funds Supervisory Office (UNFE) will today announce the official return rates of the Open Pension Funds (OFE) for the last two years. According to estimates in Prawo i Gospodarka, the highest rate of return will be achieved by OFE Rodzina, with 28.34%, followed by OFE Polsat with 24.88%, OFE Commercial Union with 22.58% and OFE Nationale Nederlanden with 19.92%. OFE Bankowy is likely to be the only one with a far lower return rate, forecast at around 1.38%, whereas the minimal return rate required was 9.04%. This means OFE Bankowy would have to cover the shortfall of around zl. 35 million from its own resources. Krzysztof Lutostanski, President of PTE PKO/Handlowy, which owns OFE Bankowy, said " We cannot give the exact amount, since we have not yet learned the return rates of all OFE. Besides, we have recently received an exceptionally high payment from ZUS". However, despite OFE Bankowy's pension funds yielding rates under the minimum threshold, thereby proving to be the worst choice for future pensioners and despite the bank's weakening financial results, few have chosen to withdraw from it. (Prawo i Gospodarka, p. 10, Gazeta Wyborcza, p. 27) P.W.