Hausner suggests T-bond issue may be option for solving ZUS problems

Overdue contributions by the State social insurance system to private pension funds stand at zl.6.3 billion, Labor Minister Jerzy Hausner said yesterday. Hausner added that the figure did not include outstanding interest payments, but he would not disclose how much the arrears amounted to. He insisted, however, that the interest would be paid by the Social Insurance Administration (ZUS) in cash as soon as possible. Hausner also said the government was working on ways to solve the back premiums issue, with one possibility envisaging the debt being covered with tradeable T-bonds, which would be given to the pension funds. ZUS, beset by computer woes since the start of the pension reform, is unable to match up all pension fund members with their monthly contributions, leading to a backlog in the payment of premiums. Last year ZUS transferred zl.8.7 billion to pension funds. (Reuters)