Scheme Overview

PPK auto-enrolment pension scheme

All employees between 18-55 years old for whom the employer pays obligatory social security contributions are enrolled by default not later than after 3 months of employment, however they can opt-out by submitting the resignation declaration (opt-out form). Every 4 years starting from 1st of March 2023 the auto-enrolment process takes place: all employees who submitted the opt-out form before that date should submit this form again. Employees between 55-70 years old can join PPK at their request by submitting the participation declaration.

Scheme Vendor

PKO Towarzystwo Funduszy Inwestycyjnych S.A. (the biggest Investment Fund Company in Poland with assets under management of ca EUR 6.5 billion)

Eligibility

All employees below 70 years old for whom Dow Jones pays obligatory social security contributions.

Contribution Rates

If an employee joins the PPK then the basic contributions apply: 2% of gross remuneration is paid by the employer and 1.5% of gross remuneration is paid by the employee. There are also state contributions: one-off initial contribution (PLN 250) and annual contributions (PLN 240 annually).

Employees can also declare an additional contribution of up to 2% of gross remuneration. This additional payment is not matched by the employer. The additional contribution is deducted from  your net salary.

Dow Jones can also declare the additional contribution of up to 2.5% of gross remuneration. This additional contribution can be differentiated only based on the seniority criterion unless the internal regulation of remuneration indicates other criteria.

For people with a monthly salary from all sources lower than 1.2 times of minimum salary in the economy), the basic contribution paid by the employee can be decreased to 0.5%. Dow Jones would still be obliged to pay its 1.5% contribution.