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Overhaul of the Polish pension system - put on hold?

Poland
26/03/2020
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According to the latest press releases works on a new law aimed at introducing fundamental changes to the Polish pension system (the “Draft Law”) will not be thwarted by the outbreak of the coronavirus in Poland (and a big drop in stock prices resulted thereof). It has been, however, acknowledged that this turbulent and unsettling time might not be favourable for such changes and the entry into force of the Draft Law might be postponed (a new date has not yet been set).

Current state of play

The Draft Law passed through the three readings in the lower house of the Polish Parliament (pl: Sejm), but was recently rejected by the higher house (pl: Senat)1. As a next step – the Draft Law will return to Sejm and will be subject to a voting (the Senate’s objections might be dismissed by an absolute majority of votes).

The draft law was intended to enter into force on 1 June 2020 (barring some exceptions). Some of the key changes resulting from the Draft Law are set out in our previous e-alert.

For more information, please contact our local CMS expert: Ewa Świderska and Marta Szwarczyńska.

1 In general, to become binding law the draft law requires three readings by the lower house (pl: Sejm) of the Polish Parliament and then the approval of the higher house (pl: Senat). It must then be signed by the President and, finally, published.

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