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
26 Aug
VWS
Til Euroinvestor administrator! Jeg må forlange at Administrator forbyder pjneumann at deltage i deb..
109
27 Aug
 
I gamle dage, var der et sted hvor man kunne aflevere disse ønsker, men jeg ved ikke hvor det er nu,..
58
30 Aug
VWS
  London baseret analytiker Pinaki Das fra Bank of America Merrill Lynch fik i denne uge skabt en st..
50
31 Aug
VWS
Normal 0 21 false false false DA X-NONE X-NONE ..
44
26 Aug
VWS
Skal vi ikke alle stoppe denne interne hån! Ingen kan lide at tabe penge, skulle vi ikke istedet giv..
40
01 Sep
OGZPY
Jeg vil gerne update forum om hvad der sker og hvad det kan medføre - Jeg befinder mig midt i Ukrain..
26
27 Aug
VWS
Hej kanonkaj   Er enig i, at der skal holdes en ordentlig tone... Men hvad synes du om ordlyden af o..
16
28 Aug
VWS
Et godt råd er ikke at overlade dine investeringer til anonyme "rådgivere" fra et forum som i den gr..
15
30 Aug
I:SP500
Jeg vil mene at vi er et sted imellem Relief og Optimism.   Med hensyn til dine punkter: All time h..
13
28 Aug
GEN
Gilead har med hepatitis-kuren Sovaldi fået sig en vaskeægte blockbuster, der i den grad hiver cash ..
13

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
ALK's partner Torii initiates final stage of clinical development of Japanese cedar SLIT-tablet
2
Novartis to unveil new data from three key clinical trials at European Respiratory Society International Congress 2014
3
Chiquita Sends Letter to Shareholders and Files Investor Presentation to Set Record Straight on Proposed Combination With Fyffes
4
Jimmie Johnson Crew Chief Chad Knaus Claims MOOG® 'Problem Solver' Honors at Atlanta
5
JLT Delivers over 70 Mobile Computers to One of the Largest Maritime Terminals in Poland
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   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.
 
02 September 2014 22:14:18
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20140825.1 - EUROWEB2 - 2014-09-02 23:14:18 - 2014-09-02 22:14:18 - 1000 - Website: OKAY