The Polish government will reduce contributions to private pension funds to help curb its budget deficit. Poland will lower cash transfers to private pension funds to 2.3 percent of a worker’s pay from 7.3 percent, Prime Minister Donald Tusk said on Dec. 30.

    “We would like to ensure the stability and the security of the system while also easing the burden on public debt and the deficit,” Tusk was quoted by Bloomberg as saying.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.