KNF commends gov’t plans for open pension funds

Polish Financial Supervision Authority (KNF) positively assessed the governmental initiative of transferring assets gathered in open pension funds (OFEs) to private, individual retirement accounts.
“This is a beneficial solution for the society to build long-term savings,” Rafał Mikusiński, deputy KNF head, said.
On Monday, the government presented a draft pension reform, which assumes the transfer of savings from OFEs to Individual Pension Accounts or to ZUS. Each person will individually decide where to transfer the money from their OFE account.
(PAP)