ZUS to pay interest on debts and deal with delays in paying pension funds

According to Labor Minister Jerzy Hausner, Social Insurance Company (ZUS) debts to open pension funds will be dealt with by the end of the year. Although a new law settling the problems will be presented to parliament in July, it is still unknown what sort of securities will be issued, with what maturity and under conditions the issue will be made. ZUS owes open pension funds zl. 5.5 billion and overdue interest of zl. 1.8 billion. Hausner said that currently, the most important issue is to pay off the interest, as repayment of the debts themselves is not possible now, due to lack of funds in the state budget. It is believed that once the new ZUS computer system is activated, there will be no further delays in paying contributions to pension funds. (Prawo i Gospodarka, p. 4), M.T.