Social insurance fund introduces individual accounts in pensions reform

Just two years since the reform of the pensions system was introduced, the Social Insurance Fund (ZUS) is to launch an individual accounts system next month. Aleksandra Wiktorow, the president of ZUS, quoted in the daily Rzeczpospolita, claimed that contributions made in the period between May 1999 and June 2000 will be settled by ZUS in 2002. In August, the July contributions will be registered and contributions paid in previous months will be simultaneously retrieved. Wiktorow has also made a statement that ZUS will apply to the government to postpone payment of interest worth around zl. 1.2 billion from the zl. 6 billion loan given by the budget to the fund between 1999 and 2000. (Rzeczpospolita, July 2, p. A1) P.W.