On 25 May 2018 the Ministry of Finance presented an updated draft of the law on establishing of Employees’ Capital Pension Schemes (PPK). The new regulations would need to be agreed by the Parliament to become biding.
The changes planned in the retirement system may have an impact on settlement of employers and employees. Do you know how to prepare a company for the change?
PPK would be a new, mandatory for employers and voluntary for employees system for collecting pension savings under the third pillar of the pension system. The new scheme is intended to improve the structure of Polish pension savings and shall be complementary to the voluntary Employee Pension Schemes (PPE).
Assumptions:
The participants of the new system will be all employees between 19 and 55, who will automatically be registered under the PPK scheme with the right to opt out of the program. Employees over 55 will be able to join the program voluntarily.
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