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Despite declarations from Prime Minister Donald Tusk and the head of his advisers, Michał Boni, that the government will not support the changes to the retirement system, the deputy Finance Minister Ludwik Kotecki said that the Ministry is still working on the proposition and is not excluding it.

"Our propositions are still valid," announced Mr Kotecki on Thursday.

The new scheme envisages a lowering of the contribution to the open pension funds (OFE) from 7.3 percent to 3 percent of wages, and the sum would in a greater degree go to the Social Insurance Office (ZUS).

"Ten years of operations of the open pension fund is a good moment to draw conclusions. The retirement system in the OFE segment generates almost 2 percent of the debt annually, and within ten years this stand at 13 percent," argued Mr Kotecki, adding that if it was not for these regulations, the public debt would be at the level of around 35 percent of GDP, like it is currently in the Czech Republic and Slovakia.

Source: Rzeczpospolita