Tags: EU | Poland | Pensions

Poland Announces New Contribution Plan for Pensions

Tuesday, 28 August 2018 09:39 AM

WARSAW, Poland (AP) — Poland's government has announced a program of voluntary retirement funds that is intended to encourage its aging society to make savings and protect low-earners from post-retirement poverty.

Under the program, employees, employers and the government will regularly contribute small amounts into employees' individual accounts.

The program is the latest element in a social benefits policy that has earned the right-wing government and the ruling Law and Justice party significant support among low-earners.

Prime Minister Mateusz Morawiecki said Tuesday the program is intended to increase Poles' financial security. It will add to what they will receive from the state-run retirement system, which is threatened by a growing number of retirees and the shrinking number of professionally active people.

Approval is still needed by the parliament and the president.

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Poland's government has announced a program of voluntary retirement funds that is intended to encourage its aging society to make savings and protect low-earners from post-retirement poverty.Under the program, employees, employers and the government will regularly...
EU,Poland,Pensions
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2018-39-28
Tuesday, 28 August 2018 09:39 AM
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