Domański rules out threat to PPK savings amid claims state will use pension funds

In brief

• Finance Minister Andrzej Domański says PPK savings are not at risk and calls the claims about state use of the money manipulation.
• The Polish Development Fund denies any plan to finance public investments with PPK money.
• PFR president Mikołaj Raczyński argues that the funds are private and that the idea of taking them is not being prepared by the government.

Government and PFR deny plans to use PPK money

Finance Minister Andrzej Domański said that the savings Poles hold in Employee Capital Plans are in no way threatened. He answered questions on Wednesday about reports that Mateusz Morawiecki, leader of the Rozwój Plus group, had commented on possible changes to how PPK money is invested (Domański ucina spekulacje wokół PPK: Środki Polaków w żaden sposób nie są zagrożone – Bankier.pl). Domański called the claims "nonsense and manipulation" (PPK zagrożone? Minister: To "bzdura i manipulacja" – money.pl).

The Polish Development Fund, which coordinates the PPK system, said it had no plans to finance large public investments with PPK money (Prezes PFR dementuje i uspokaja: pieniądze z PPK nie pójdą na inwestycje państwa – Rzeczpospolita). Its president, Mikołaj Raczyński, described the debate as a disinformation campaign and accused critics of frightening people without basis (PFR: nie planujemy przekazania środków z PPK na państwowe projekty – Rzeczpospolita). He made the same point in a separate statement, saying the idea of taking workers' money from the plans is not being prepared by anyone in government ([Wielka burza wokół PPK. "Straszenie Polaków" [WYJAŚNIAMY] – Business Insider Polska](https://businessinsider.com.pl/gielda/zmiany-w-ppk-nikt-nie-mysli-o-zabieraniu-pieniedzy-polakom-bo-to-niemozliwe/ql2t230)).

According to Raczyński, the funds held in the plans are fully private, which would make such a transfer legally impossible under the current framework. Domański's statement came a day after the rumors gained traction online (Andrzej Domański zdecydowanie o środkach w PPK: W żaden sposób nie są zagrożone – WNP.pl).

The dispute matters for the millions of employees enrolled in the program, many of whom are unsure how their contributions are managed. For now, both the ministry and the fund say the savings are safe and that no change to their use has been decided.