Definition:
It means the open pension fund which was established and managed by open pension association. It business covers the accumulation and investing the money with the object of paying (pension) benefits to fund members upon their reaching the pensionable age. The pension fund activity duration is non-limited. The organ of Pension Fund is Pension Association established according to the law rules.

Source:

• Act of 28 August 1997 on the Organisation and Operation of Pension Funds
  Place of publication: (Dz. U. z 2023 r. poz. 930, z późn. zm.)