Poland Pension-Fund Overhaul to Cut Debt Sets 75% Stock Minimum - Bloomberg

Poland Pension-Fund Overhaul to Cut Debt Sets 75% Stock Minimum - Bloomberg:

"Poland today unveiled its draft law to take over 51.5 percent of assets held by the country’s privately-run pension funds, saying the step will reduce public debt by 9.2 percentage points of economic output next year.
Thirteen funds, which invest mandatory contributions from 16.2 million members and control $94 billion of assets, will be banned from buying government bonds from Feb. 3 and required to put at least 75 percent of their assets in stocks.
The overhaul will give the government more leeway to boost public spending as 2015 general elections loom while its public support wanes. The draft will be sent to parliament in mid-November following a month of consultations, Prime Minister Donald Tusk told reporters in parliament this week."

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