Class action suit against pension-fund nationalisation gets go-ahead
PR dla Zagranicy
Aleksander Nowacki
04.03.2015 14:09
A lower-level court has admitted a legal challenge to the partial nationalisation of Poland’s pension funds.
Photo: Glowimages
The regional court of Warsaw allowed a class action lawsuit against the state treasury, the national pension firm, ZUS and the private pension-fund industry to go ahead in a decision on Wednesday.
The 52 litigants allege that last year’s reform, which transferred much of the assets accumulated in private pension funds to the state-owned ZUS in a bid to reduce public debt constituted violation of property rights of citizens.
The reform moved the assets accumulated at pension funds into notional accounts at ZUS, which runs a pay-as-you-go pension system. The operation transferred PLN 153.13 billion (EUR 36.75 billion) from the private fund industry into state coffers. (an)
Source: PAP