Monday, April 29, 2019

Poland’s latest pension reform is good for the government, bad for savers

OPINION: Recently announced reforms to Poland’s pension system are just the latest in a long line of changes made over the past eight years. Unfortunately, the majority of these have been motivated by short-term goals (either fiscal or political), without looking at the long-term stability of the pension system. Sadly, the current changes follow the same pattern. After lowering the retirement age to 65 (for men) and 60 (for women) and announcing discretionary one-off payments for pensioners before this year’s European and parliamentary elections, the current government has now announced plans to abolish the pension system’s mandatory capital pillar. Read More