OFE pension funds to be dissolved in 2018 – Morawiecki

Deputy PM Mateusz Morawiecki said that Poland will implement its planned restructuring of OFE pension funds in 2018, effectively dissolving them. Under the plan announced back in 2016 by the ruling Law and Justice (PiS) government, 25 percent of OFE assets will be transferred to the state-owned Demographic Reserve Fund managed by the Polish Development Fund, while the rest of the assets, roughly matching the current equity allocation, will be transferred to privately owned Individual Pension Accounts (IKE) which will be invested “in a more reasonable way from the point of view of investment profile and risk for the future pensioner,” Morawiecki said.