OFE re-applicants grow in number

The number of re-applicants for private pension funds (OFE) is growing. Until July 24, a total of 906,729 applicants have filed for maintaining a private pension fund account. The number of filings has surpassed 50,000 per day, as we approach the filing deadline of July 31. A recent government decision has called for a move of capital from private funds into the state retirement insurance scheme (ZUS), allowing 2.92 percent of the pension to remain in a private fund, if a payer fills out a special application. All things considered, the amount of Poles keeping an OFE account may be 1.2 million, which is about 7-8 percent of current private fund membership. Part of the amendment passed by the government prohibits private pension funds from investing in government obligations, instead ordering the funds to invest in shares of companies on the stock market.