Government plans to reform pension funds payout

The plan is good news for pensioners and a significant improvement on an earlier proposal by PKPP Lewiatan, the employers association, which envisaged a uniform, individualized payment regime that meant pensioners would lose their outstanding accumulated pension savings upon death. Under the government proposal, there will be two more options: a common pension for married couples, and a guaranteed-term pension. In both cases, the accumulated pension savings will also be paid out after death to a designated person. But there will be no one-off payments. Although the pension will be formally paid out by ZUS, savings will be managed and calculated by a new type of licensed pension companies. To stimulate competition, the government will also create a state pension company. (Puls Biznesu, p. 1, 4, 5) R.M.