Poland will implement a planned reform of its open pension funds (OFE) only as of July 2018 given the complexity of the reform and the need for the social insurance board to make preparations, deputy PM and Minister of Finance and Development Mateusz Morawiecki told PAP.
„In my opinion OFE reform will enter into force as of July next year,” Morawiecki said. „It is a very complex reform which requires inter-ministerial agreements and also ZUS (social insurance fund) needs to prepare for it.”
„The current system works for the time being and we do not want to introduce changes with an unnecessary rush,” he said, adding he is hoping for „a positive impact of the reform on the equity market because the element of uncertainty will disappear and the level of investments into shares will be maintained.”
