OFE reform to be put on hold – media

According to Dziennik Gazeta Prawna daily, works on the OFE pension funds reform have been suspended as Deputy PM Mateusz Morawiecki and Labor Minister Elżbieta Rafalska, couldn’t come to an agreement regarding its details. Morawiecki wanted to move 25 percent of OFE assets to the state-owned Demographic Reserve Fund managed by the Polish Development Fund, while the rest of the assets, would be transferred to investment funds that would function largely like the current optional pension accounts Individual Pension Accounts (IKE) and Individual Pension Security Account (IKZE). Rafalska preferred dissolving OFE’s and putting all of its assets in the Social Security fund ZUS. With no agreement in sight, plans have been shelved and will most likely wait for the next parliamentary term. Earlier, media rumored that the reform could be pushed to mid-2018.