Polish legislation on mandatory pension funds has reached the final parliamentary stage and is expected to re-ceive presidential assent later this month.

The start up date for the system is January 1999.

A draft law is now in preparation for reform of ZUS, the Polish social security system, which will aim to create a system of second pillar pension annuities.

The authorities are currently working on setting up a regulator for the mandatory system. The body should be in place by May next year with the first funds expected to gain approval next summer.

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