Poland’s government has adopted a plan to go ahead with voluntary, employer-sponsored pension programmes as a new option for citizens to save for retirement.
Under the new system, employers would contribute at least 1.5 percent of employees’ gross wages to individual retirement savings accounts every month. Employees would in most cases be required to contribute no less than 2 percent of their gross monthly wages, and the government would make a supplementary contribution of PLN 240 every year, in addition to a one-off welcome payment of PLN 250.
The new system would take effect in stages beginning next year and be fully up and running nationwide by 1 January 2021. PPK will encompass up to 11.5 mln employees.
