Social Insurance Fund sees zl. 7.4 mln in profits from bank deposits

In June and August this year, Social Insurance Company (ZUS) did not invest fees in treasury and NBP securities but in bank deposits which brought zl. 7.44 million profit to the Social Insurance Fund (FUS). According to labor minister's resolutions, since 14th June this year, ZUS is authorized to invest money in securities and deposits in banks with equity capital amounting to at least 100 million euro. In order to diversify the bank deposits, their amount has been limited to a 150 million euro equivalent of Polish zloty in a single bank. ZUS investments allow additional profit to reduce FUS operating costs (financed by the state budget), with the stipulation that these activities will not affect the dates of benefits payments made by FUS. (Prawo I Gospodarka, p.11) K.K.