25th January 2012
Wednesday, February 22nd, 2012
Poles face bleak retirement prospects
Given that the value of Poles' total retirement assets hardly increased in 2011, the future of Polish retirees appears dismal, Rzeczpospolita wrote.
Poles' collective retirement assets, counting government pensions and money held in private schemes, amounted to zł.2.35 trillion in 2011, up only slightly from zł.2.26 trillion in 2010.
The amount includes money saved in the social insurance fund (ZUS), private insurance funds and corporate and individual retirement savings schemes.
A large portion of the savings, some zł.2.1 trillion, lies in ZUS accounts, but some economists suggest that the deposits are merely state promises to retirees in the future and not real money.
From Warsaw Business Journal
Also check out:
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Bleak retirement prospects
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Rise in pensions to cost Polish government zł.6 billion
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Open pension funds: Poles losing billions in savings
Bleak retirement prospects
Pension changes voted Poland's biggest business story of 2011
Rise in pensions to cost Polish government zł.6 billion
Early retirement could lead to economic disaster
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