Project name: "Development of a national strategy for financial education (NSFE) in Poland"

Scope of support:

The UKNF was a participant in the project "Development of a national strategy for financial education (NSFE) in Poland", implemented under the first allocation of the EU Technical Support Instrument.

The project was implemented by OECD experts at the request of the European Commission, DG Reform, in cooperation with the National Working Group on Financial Education Strategy. 

The Group was composed of representatives of the Ministry of Finance, Polish Financial Supervision Authority, Ministry of Education and Science, National Bank of Poland, Office of Competition and Consumer Protection, Bank Guarantee Fund, Warsaw Stock Exchange, National Depository for Securities, and Financial Ombudsman. 

The UKNF was involved in the project as a cooperating institution both at the stage of application for the funds under the TSI and the subsequent implementation of measures in cooperation with the Ministry of Finance and the other members of the national group.

The project aimed to support the preparation of a proposal for a national financial education strategy. 

The project was divided into two stages. The first step involved the assessment of financial skills and financial literacy of Poles (including identification of the existing initiatives and gaps in the area of financial education, as well as definition of needs, priorities and target groups). The activities included the analysis of data and obtaining feedback from a diverse group of external stakeholders and were concluded with a report: "Financial literacy in Poland: relevance, evidence and provision". 

Following the second phase, on 25 April 2023 a draft National Strategy for Financial Education (NSFE) was announced, together with, inter alia, strategic goals and objectives, target groups, management mechanisms, role of stakeholders, and guidelines. The priorities are, inter alia, to increase and maintain financial resilience and financial well-being of Poles through proper planning of personal finances, avoiding excessive debt and improving risk management skills. The document was consulted on with representatives of financial professional organisations, non-governmental organisations and academia.

The draft strategy includes the plan of implementation of its objectives and priorities for the first three years. The next step is to submit the document to the Council of Ministers for endorsement. The coordinated approach to financial education is to help implement the strategic objectives and reduce the existing gaps in Poles’ financial literacy. 

The project was implemented over 19 months and completed in April 2023. 

The "Development of a national strategy for financial education (NSFE) in Poland" project was financed by the European Union through the Technical Support Instrument in cooperation with the European Commission’s Directorate-General for Structural Reform Support.

Contact:
Joanna Lipowczan
e-mail: joanna.lipowczan@knf.gov.pl