October 9, 2018 / 9:20 AM / 6 months ago

Poland state fund head confirms pension reform on track

WARSAW (Reuters) - The chief executive of Poland’s state-owned PFR pension fund, Pawel Borys, confirmed on Tuesday that a pension reform, which is to bring 12-15 billion zloty ($3.2-4.0 billion) a year to the capital market, will be implemented in July 2019 as planned.

Some investors were worried that the reform, called PPK, crucial for the stock market, may be delayed as politicians are afraid that voters will be unhappy with the plan to spend a small part of their salaries on additional pensions.

“Judging by the speed with which the reform was passed in parliament, I expect it will be implemented on July 1, as planned,” Borys, whose fund is in charge of the reform, told Reuters.

Reporting by Marcin Goclowski; Editing by Kevin Liffey

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