Employee Capital Plans were supposed to convince Poles to save for retirement. The benefit from ZUS itself can be an unpleasant surprise that many people do not expect. President of the Social Insurance Institution prof. Gertruda Uścińska has repeatedly said that in the perspective of 30 years, the replacement rate will fall to the level of approx. 25%. In turn, Dr. Jarosław Oczki from the Nicolaus Copernicus University in Toruń in one of the analyzes even estimated that in 2060 it may amount to only 18.7 percent. This means that the new pensioner will receive such a percentage of the last paycheck.
However, the government has no easy task when it comes to persuading Poles to use the so-called Pillar III, i.e. voluntary saving instruments. Ideas from the past didn’t necessarily work. As a consequence, PPKs, despite favorable comments from financial experts, also had a poor start when millions of people signed out of them. Perhaps because Saving for the future is associated with a lower salary “in hand” now.
Several million Poles may feel the lower salary from March when will happen first autosave to PPK, which includes even people who have already unsubscribed from the program. From March 1, they can do it again, but it’s worth considering whether it makes sense.
The aforementioned payment will decrease, but it is difficult to look for other safe instruments on the market that will give such a rate of return as PPK. The employer and the state must contribute their money for our future pension, and additionally the funds work on the market.
See also: He saved three years in PPK. He is surprised by the amount, but one thing is disappointing
Importantly, we have constant access to our deposited amounts and can withdraw them whenever we want. As the representatives of the Polish Development Fund indicate, if the participant makes a refund, he will receive:
- 100 percent your contributions;
- 70 percent employer’s payments.
The remaining 30 percent of the employer’s payments will be transferred to ZUS as a pension contribution.
The table shows examples of how much money PPK will “take” from the salary and how much can be gained from it in retirement
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Business Insider Poland
