Poland Approves Plans to Overhaul Pension System

2019-11-11T13:07:26-08:00November 11th, 2019|Categories: Pension Funding|Tags: |

Poland is moving its state-guaranteed private pension benefits to IRA-like accounts. The shift is designed to trim the Polish government’s liabilities and save $5 billion thanks to reduced retirement outlays. The government-backed private system, called OFE, is valued at about $43 billion. Private pension funds are owned and run by firms like MetLife, NN Group, and Aviva. The government is transferring assets to fill a budget gap and minimize uncertainty. Poles’ private pension money will be moved to the [...]