POLAND - The Polish Chamber of Pension Funds has joined the European Federation for Retirement Provision – the first fruit of the EFRP’s push into expanding its membership in countries that are set to join the European Union.

“The European Federation for Retirement Provision wishes to announce the expansion of its membership as from January 1 with the entry of the Polish Chamber of Pension Funds,” the EFRP says.

The EFRP is a Brussels-based body which represents the various national associations of pension funds.

The chamber represents joint interests of Polish pension fund societies which manage open-ended pension funds. Its aim is to promote the Polish pension system and to “foster the image of pension fund societies as public trust institutions”.

The funds managed by the pension funds belonging to the chamber have 10.6 million members and manage around 6.65 billion euros, or some 99% of the total value of assets under open-ended pension fund management in Poland.