Poland wants to merge OFE funds into one

According to Polish daily Rzeczpospolita, the government of Poland is planning to  merge existing private pension funds OFE into one fund managed by a stated-owned company, a person with knowledge on the matter said. The source said the managing company would be state-controlled insurer PZU, while the other informant, who also confirmed the government plans, said it would be development bank BGK. The Development Ministry and the Labor Ministry didn't comment on the matter. According to Rzeczpospolita, the total value of assets of the 12 OFEs stands at PLN 140 billion.