The Deputy Prime Minister also announced a change in some parts of the pension system, so that – as he said the head of the department of development – has become a more transparent and efficient.
Mateusz Morawiecki said the OFE system today does not serve anyone – neither provides higher pensions, or not finance economic development. As emphasized in the plans of the government it is to transfer money from OFE Poles.
Source: TVP
Among the pillars of capital construction, among others, Employee programs
The introduction of a general system of voluntary occupational pension schemes in the corporate sector, namely occupational capital – is one of the presented on Monday by Deputy Matthew Morawiecki pillars of building Polish capital.
The management of occupational capital would deal with the Polish Fund development – handed Morawiecki.
Another pillar of capital construction is to be the third pillar of the reform of pension schemes, involving the simplification of IKE and IKZE and the construction of individual capital plans for the smallest companies. The plan also provides for reform of the OPF and provide participants with the funds of funds to the third pillar and the Demographic Reserve Fund.
As stated at Monday’s conference, the other pillars of the capital construction are: the introduction of a central electronic record “third pillar” programs of the Social Insurance Institution , the introduction of universal access to real estate investment in the form of Public Real estate Funds, the introduction of a system of individual Treasury bonds, the introduction of a lower tax on long-term investments.
The WSE back red. The reaction to the announced changes in OPF?
Transfer of 75 percent. assets of OFE IKE
The transfer of 1 January 2018, 75 per cent. OFE assets on Individual Pension Accounts of all participants of OPF 16.5 million, ie approx. 6.3 thousand. per person, as well as the transfer of the remaining 25 percent. of pension fund assets to the Demographic Reserve Fund – are elements of the government’s plan for the Open Pension Funds.
One of these pillars are to be changes in the OFE, which first mentioned during Saturday’s congress PiS president Jarosław Kaczyński.
the Deputy Prime Minister said on Monday that it plans to open pension funds are designed to ensure that measures are still gathered in open pension funds, which have been recognized by the Tribunal for the public, “were indeed public.”
According to the initial concept, as He emphasized Morawiecki, 75 assets of the funds (103 million zł) would be transferred from 1 January 2018 year to Individual Pension Accounts of all participants of OPF 16.5 million, or an average of 6.3 thousand. per person. At the same time there would be a transformation of OFE in the “Investment Funds Polish Shares” and Pension companies would be transformed into a TFI
President of the Polish Development Fund Borys Paul explained that therefore “PTE, which would manage the OFE would cease to function based on the current law.” – Start to operate in accordance with the law on investment funds and pension companies would be transformed simply TFI and Open Pension Funds would be transformed into investment funds – he said.
A new social contract
He added Morawiecki, IKE replace OFE and therefore it would be a kind of “new social contract”. At the same time it would be obliged to buy for at least 75 percent. measures IKE periodic pension or lifetime, with 25 percent. a lump sum.
On the other hand, the remaining 25 percent. assets of OFE (35 billion zł) would be transferred “under the Act” to the Demographic Reserve Fund, “the real purpose of strengthening the financial buffer of the pension system.” These agents within the FRD could manage Polish Development Fund, and some of them could hit it on the third pension pillar.
– We propose that the Demographic Reserve Fund in real terms for strengthening retirement security for all citizens, we do not want to it was once absorbed by the state budget, as did our predecessors from 160 billion zł – emphasized Morawiecki.
Deputy Prime Minister stressed that everything will be realized “if this program is so politically finally approved.” “We tried to interpret the political will for conduct on OFE” – he said, referring to Saturday’s chairman of Law and Justice.
The money from the OPF to plan Morawiecki? “The assumption that the money will be lost too bold”
TVN24
IAR, PAP, abo
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