Poland’s new private pensions system began transferring retirement payments from the state to fund managers at the end of May, with estimates recording a third of the government’s expected target of 6.5m employees already signed up to a provider of their choice.
CU Polska currently leads the race for signatures amongst investment managers having attracted around 800,000 affiliates since April 1 this year.
PZU has taken around 600,000 names, with Nationale Nederlanden bagging 400,000 contributors and AIG 300,000 - following strong recent performance.
Ian Ainscow, director of CU Investment Management, Poland, investment advisors to CU Poland PTE - the pensions company of CU Polska, says: “ ZUS confirmed on May 14 that 2.4m individuals were listed in their computer system with a fund manager preference.
“Our insurance brand name in Poland has certainly contributed to our success. We believed could get a 15-20% share of the pensions business, and it looks as if we are going to beat that.”