I. Inheritance of accumulated funds
The funds accumulated on the PPK account are not forfeited at the time of the death of the employed person - they are inherited according to the rules specified in the PPK Act.
- Situation in which a PPK participant remains in the marital joint property upon death:
- a financial institution makes a transfer payment of half of the funds accumulated on the PPK account of a deceased PPK participant to the PPK, IKE or PPE account of the spouse of the deceased PPK participant, to the extent that these funds were the subject of marital joint property;
- transfer payment or reimbursement of accumulated funds due to an authorized person takes place within 3 months of the date on which the spouse submitted the application together with the necessary documentation:
- duplicate of the death certificate;
- marriage certificate;
- a statement in paper form about the property relations that existed between him and the deceased participant in PPK, and documenting how to regulate these relations if there was no statutory jointness between the spouses.
At the request of the spouse of a deceased PPK participant, the refund of funds accumulated on the PPK account attributable to that spouse shall be in cash.
The reimbursement takes place within 3 months of the date of submission of proof that the funds accumulated on the PPK account of the deceased PPK participant fell to that spouse.
- In the event that the PPK participant does not remain in the marital joint property upon death, the funds accumulated on his account shall be transferred to authorized persons.
Authorized persons mean successively:
- persons indicated by name in writing by a PPK participant in a financial institution,
- if the financial institution is an insurance undertaking and no person authorized to receive the sum insured is indicated, persons indicated in the general insurance conditions,
- heirs of a PPK participant.
- Accumulated funds, depending on the application of the entitled person:
- are subject to transfer payments to the PPK, IKE or PPE of that person;
- are reimbursed in cash - the refund may apply to all or part of the funds of the deceased PPK participant.
Transfer payment or return of accumulated funds due to an authorized person takes place within 3 months from the date of submission by the authorized person of the application together with the necessary documentation, i.e.
- a copy of the death certificate of a PPK participant,
- a document confirming the identity of the authorized person,
- a copy of a final court order confirming the acquisition of an inheritance or a registered inheritance certificate,
- a consistent statement by all heirs about the distribution of funds accumulated by the deceased PPK participant or by a final court decision on the inheritance department,
- documents confirming the identity of the heirs.
Unless the entitled person requests payment at a later date.
II. Distribution of accumulated funds in the event of divorce of an employed person
The PPK Act distinguishes two ways of separating some funds as belonging to joint property in the event of annulment of a marriage or divorce:
III. Funds accumulated on the PPK account and change of the employing entity
The PPK Act provides for the possibility of having several PPK accounts - a change of the employing entity does not have to mean the termination of the account kept with the previous employing entity.
The rule is that after the termination of the participant's employment in the PPK in a given employing entity, the accumulated funds remain on the PPK account of the PPK participant until they are withdrawn, transferred or returned.
In the coming weeks, more articles on PPK will appear - we encourage you to keep up to date with the Law Firm's news. If you have any questions or doubts related to the implementation of PPK, please contact our Law Firm