Learn About inPZU
inPZU is a modern online investment platform that operates 24 hours a day, 7 days a week. It can also be accessed via a mobile phone. The management of Employee Capital Plans (PPK) accounts is handled in the dedicated PPK section.
inPZU – PPK account management
General questions
Who is responsible for ensuring the security of funds in the PPK?
Supervision of PPK in terms of compliance with the law and the interests of employees and employers is carried out by the Polish Financial Supervision Authority (KNF). Financial institutions must meet a number of statutory requirements to be authorized to manage the funds accumulated in the PPK. Only an institution with the appropriate experience specified in the legislation may manage PPK savings.
The accumulated funds are invested in defined , whose investment policy automatically adjusts as the participant approaches the age of 60, in order to reduce the level of investment risk. However, it is important to remember that investing involves risk, and the funds accumulated in the PPK are not guaranteed.
Is it possible to increase or decrease the amount of contributions to the PPK?
Both the employee and the employer may decide at any time to increase or decrease the amount of additional contributions to the PPK. In practice, changes to the contribution amount will take effect from the following month. Additional contributions may be differentiated by the employer based on length of service or in accordance with the adopted remuneration regulations or a collective labour agreement.
Is it possible to have multiple PPK accounts?
It should be noted, however, that a PPK participant is entitled to receive only one welcome contribution and one annual additional payment from the State per year.
Will all professional groups be covered by the PPK?
PPK generally covers persons employed, regardless of their profession. However, members of the uniformed services, as well as judges and prosecutors, cannot participate in the PPK, as they are covered by a separate pension scheme and do not pay pension or disability insurance contributions to the Social Insurance Institution (ZUS).
Questions for the employee
What will happen to the money in my PPK when I change jobs?
After changing employers, you may transfer your funds to the PPK operated for your new employer (if they have concluded a PPK management agreement) or leave them with the financial institution that managed the PPK for your previous employer.
Are inherited funds subject to taxation? Will they be subject to any deductions?
No. The PPK Act exempts inherited funds from deductions and taxation in the event of a PPK participant’s death. PPK assets are inherited by the spouse or designated beneficiaries. The funds may be transferred to a PPK, an IKE or a PPE account, or withdrawn in the form of a cash payment.
Are any fees charged for reallocating the accumulated funds between the defined date sub-funds within a PPK account?
No. In the fund managed by TFI PZU, reallocating the funds is free of charge and not subject to any limits.
Is it possible to withdraw funds at any time?
Yes. The PPK Act guarantees that the funds accumulated in a PPK account are the private property of the participant, which means that a return payment may be made at any time. However, the most beneficial option is to withdraw the funds after reaching the age of 60, as this allows the participant to retain, among other things, the welcome payment and annual additional payments from the State.
A withdrawal before the age of 60 involves:
- payment of the due 19% capital gains tax,
- transfer of 30% of the employer’s payments to the Social Insurance Institution (ZUS),
- return of all additional payments received from public funds.”
What happens to the accumulated funds if participation in PPK is terminated?
The funds remain in the PPK account and continue to be invested in the appropriate defined date sub-fund. They are payable after the participant reaches the age of 60. At any time, the participant may make a return payment (with tax, ZUS-related consequences and the obligation to return state additional payments) or transfer the funds to another PPK account by means of a transfer payment.
Jakie są koszty uczestnictwa w PPK dla pracowników?
Kosztem uczestnictwa w PPK dla pracownika jest:
- podatek dochodowy od wpłaty podstawowej finansowanej przez pracodawcę (17% lub 32%)
- wpłata pracownika w wysokości 2% wynagrodzenia brutto.
Downloads
PPK management agreement
Employee forms
Information materials