Polish pension funds transfer 7.5 bn złoty to ZUS, may start selling shares

Poland's Open Pension Funds (OFE) transferred 7.5 billion złoty to the Social Insurance Institution (ZUS) in six months through the so-called safety slider mechanism. The pace of transfers is making it increasingly likely that the funds will have to sell equities to meet their obligations. Such forced share sales could put downward pressure on the Polish capital market.