The Ministry of Digitisation plans to abandon the creation of Central Pension Information (CIE), a peculiar registry to supply citizens with access to all information about their pension savings. The draft CIE Act was introduced inactive under the regulation of law and justice, but the current government intends to cancel it. Why specified a decision was made and what will its consequences be for Poles?
What was Central Pension Information expected to be?
Central Pension Information was enacted in the erstwhile word and was to be a comprehensive tool that would collect information on pension savings collected in various institutions. The registry was to include data from the Social Insurance Institution (ZUS), Open Pension Funds (OFE), Individual Pension Accounts (IKE), Individual Pension Insurance Accounts (IKZE) and worker Capital Plans (PPK). This would give citizens easy access to all information about their savings in 1 place.
Why does the Ministry of Digitization quit the CIE?
According to the “Fact portal”, the Ministry of Digital Affairs has already prepared a bill that will cancel the introduction of the CIE. The hotel gives respective reasons for this decision:
- System difficulty – The Ministry fears that citizens may have problems utilizing specified an advanced tool.
- Data security – There are doubts about the safety of storing all information on pension savings in 1 place.
- Budget cuts – Resignation of the task will save up to PLN 167,5 billion, which is crucial in the context of the current financial situation of the state.
Experts warn: giving up CIE can have negative effects
Despite the Ministry's arguments, any experts believe that resigning from Central Pension Information is simply a mistake. Specialists are alerting that this decision may negatively affect the financial awareness of Poles. The deficiency of 1 coherent origin of information on pension savings can discourage citizens from saving more for the future.
“Central Pension Information was intended to be a tool that would make it easier for citizens to manage their pension savings. Its deficiency may lead to greater confusion and little control over its own finances," comments 1 expert.
What's next on the project?
The draft act on the cancellation of CIE is presently in the consultation phase. The decision of the Ministry of Digital Affairs met with mixed reactions. On the 1 hand, arguments about savings and data safety are important, on the another hand – experts emphasize that resignation from CIE may have long-term negative effects on the financial awareness of Poles.
Will the Ministry of Digital Affairs change its head under the influence of expert voices? This remains an open question for now. 1 thing is certain – this decision will have a crucial impact on the future of pension savings for Poles.
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Ministry of Digital Affairs resigns from Central Pension Information
