Poland announces new contribution plan for pensions
Under the program, employees, employers and the government will regularly contribute small amounts into individual accounts.
The program, which is aimed at some 11.5 million people on job contracts who have little or no savings and is due to be launched next year, is intended to ease the pressure on the state-run retirement system, which is considered to be insufficient to meet future requirements.
The program is the latest social policy change by the ruling Law and Justice Party that has earned it significant support among low-earners. Government statistics show 75 percent of Poland’s 38 million-population have no savings at all. Earnings in Poland are among the lowest in the EU.
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