POLAND NATIONALIZES RETIREMENT ACCOUNTS!…”This is coming to a modern Western nation closer to home soon.”
SEPTEMBER 6, 2013
Reuters is reporting that Poland has just nationalized their retirement system via a pension fund “overhaul”, a move Poland claims will reduct is public debt by 8 pct of GDP thanks to the theft of their citizens retirement savings.
The plan calls for private pension funds to be forceably converted to a state guaranteed system, without providing retirement holders ANY COMPENSATION!
The Polish pension funds’ organisation said the changes may be unconstitutional because the government is taking private assets away from them without offering any compensation.
This is coming to a modern Western nation closer to home soon. Those who bite the bullet and pay the penalty to extricate themselves from retirement positions can prevent a full loss to their retirement savings and wealth should a similar forced pension/401k conversion occur.