At the press conference on 15.04 the Prime Minister, Mateusz Morawiecki presented on behalf of the government the proposal to transfer all funds from OFE to private Individual Retirement Pension Accounts IKE. The conference was participated by, among others, the Minister of Family, Labour and Social Policy, Elżbieta Rafalska.

Each OFE participant would have a choice, if they want to transfer their funds to the Individual Retirement Pension Account, or to ZUS to the retirement pension account in the 1st pillar.

In total, approx. 162 billion zloty accumulated in Open Pension Funds by 16 million of Poles is in question. These funds will be one hundred private and hereditary. It will be possible to withdraw them in a single payment or in instalments, without tax, upon reaching the retirement pension age.

The Prime Minister, Mateusz Morawiecki drew attention to the fact that the basic problem in Poland consists in the inability to save for the old age. According to the Head of government, the proposal of changes in the retirement pension system provides an answer to this problem. Changes in the Open Pension Fund mean an increase in Poles’ financial security and the retirement pension system reinforcement.

As underlined by the Prime Minister, the retirement pension system would be thus based on three pillars – the Polish Social Insurance Institution (ZUS), the Employee Capital Plans (ECP) and the Individual Retirement Pension Accounts (IKE). Due to the diversification of cash sources retirement pensions would be thus higher.

The press conference was also participated in by the Minister of Investment and Economic Development, Jerzy Kwieciński and Gertruda Uścińska, the President of the Polish Social Insurance Institution.