04/09/2013 13:21:00

Poland to Reduce Role of Privately Managed Pension Fund Companies

WARSAW--Poland will transfer to the state administration all sovereign bonds held by private pension funds that are the mandatory element of the country's pension system, the country's prime minister and finance minister said Wednesday.

The move will take away 51.5% of assets the private fund companies currently hold and reduce their role in the system. The pension funds will hold on to 48.5% of their current assets, mostly stocks of companies listed on the Warsaw Stock Exchange.

Participation in the private element of the system will become voluntary, said Prime Minister Donald Tusk. The private funds will get 2.92% of gross wages of any participants who will opt to include the private element in their pension program, Finance Minister Jacek Rostowski told reporters.

The government will deregulate investment policies for private funds, giving them more ability to invest in stocks, Mr. Rostowski said.

Mr. Tusk said the overhaul aims to reduce the pace of growth of Poland's public debt, at 55.6% of gross domestic product at the end of last year.

Write to Marcin Sobczyk at marcin.sobczyk@wsj.com

(END) Dow Jones Newswires

September 04, 2013 08:21 ET (12:21 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
11 Jan
OMXC20
  Du skal vide, hvor meget det selskab, du vil investerer i, reelt er værd, før du investerer. Hvi..
49
13 Jan
ZEAL
Goodwrench, jeg har i lang tid ignoreret dine destruktive indlæg og havde håbet på, at alle øvrige s..
43
12 Jan
NOVO-B
  Jeg har tidligere (blandt andet i indlæg senest 29/10, 28/9 og 8/8 2016) analyseret Novo og offent..
43
13 Jan
VWS
Vestas er et andet bud på en kursspringer på den korte bane.   Årsregnskabet burde være triggeren de..
27
13 Jan
BAVA
Det har været diskuteret om udskydelsen af 3. kig og Fase 3 data vedr. Prostvac er positivt eller ne..
27
14 Jan
VWS
Jeg sidder lige her en stille lørdag formiddag, og tænker lidt over Vestas situation, og kursudvikli..
25
13 Jan
 
Efter laaaaaaaaaaaaaang tid på debatten har jeg gjort lidt status. Jeg har købt BAVA på gennemsnitli..
23
16 Jan
COLUM
Debatten her på EI handler om aktier og børsnoterede selskaber.   Da jeg regner med, at langt størst..
22
14 Jan
DSV
Normal 0 21 false false false DA X-NONE X-NONE ..
22
16 Jan
BO
Hvorfor køber du ikke en bannerreklame her på Euroinvestor, så vi andre ikke behøver at skulle sorte..
20

Form 8.3 - AXA INVESTMENT MANAGERS : London Stock Exchange Group PLC

17/01/2017 15:13:15
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Alliance Trust PLC : Net Asset Value(s)

17/01/2017 13:16:14
ALLIANCE TRUST PLC                                    At the close of business on Monday 16 January 2017: The Company's NAV per ordinary share..

HSBC Bank Plc : Form 8.5 (EPT/RI) - London Stock Exchange Group Plc

17/01/2017 10:13:08
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
McPhy Energy : 2016 revenue
2
HSBC Bank Plc : Form 8.5 (EPT/RI) - London Stock Exchange Group Plc
3
Hingham Announces 21% Increase in Annual Earnings and 15.59% Return on Equity
4
Global EFI Customers Jumpstart their Business Opportunities in 2017 at Sold-out Connect Conference
5
Heartland BancCorp Earns $2.2 Million in 4Q16 and $8.0 Million in 2016; Increases Quarterly Cash Dividend by 10% to $0.4301 per Share

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
18 January 2017 08:01:10
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20170103.1 - EUROWEB3 - 2017-01-18 09:01:10 - 2017-01-18 08:01:10 - 1000 - Website: OKAY