The next stage of introduction of the Employee Capital Plans (PPK) in Poland
The companies which employed at least 20 employees at the 31st of December 2019, had time until the 10th of November 2020 to conclude an agreement for running Employee Capital Plans with a chosen financial institution. Starting from the first salary payment after the employees are registered in the PPK, the employer is obliged to make contributions to the PPK.
The Employee Capital Plans (PPK) is a savings system in which the employee’s savings will be accumulated. The money collected by the PPK participant will be paid to him after reaching the age of 60.
PPK covers people employed by a given employer for at least 3 months, The membership in the PPK is voluntary, however, each employee aged 18 to 54 years old is being automatically registered it this system, unless he signs a declaration of resignation.
The cost of contributions to the PPK will be covered partly by the employer and the employee. The amount of the contribution consists of:
1) 2% of the employee’s remuneration – financed by the employee,
2) 1,5% of the employee’s remuneration – financed by the employer.
The employee will have to pay the income tax on the part financed by the employer.
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