April 15, 2019 / 1:13 PM / 4 days ago

Poland to transfer all private pension funds to individual accounts

WARSAW, April 15 (Reuters) - Poland’s government plans to transfer all state-guaranteed OFE private pension funds to individual retirement accounts, Prime Minister Mateusz Morawiecki said on Monday.

The plan announced on Monday assumes that all the assets managed by OFE - a total of 162.3 billion zlotys ($43 billion) - will be transferred to 15.8 million individual retirement accounts. Retirements will be then paid out from both the private retirement accounts and from the country’s social insurance institution. ($1 = 3.7761 zlotys) (Reporting by Agnieszka Barteczko; Writing by Joanna Plucinska; Editing by Hugh Lawson)

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