The date of implementation of the PPK and the commencement of contributions to the PPK depend on the size of the company.
Number of employees
Companies employing at least 250 people (as at 31 December, 2018)
Companies employing at least 50 people (as at 30 June, 2019)
Companies employing at least 20 people (as at 31 December, 2019)
Other employers, including public finance sector entities regardless of their size
Effective date of implementation of the provisions of PPK Act
as of 1 July, 2019
as of 1 January, 2020
as of 1 July, 2020
as of 1 January, 2021
Deadline for entry into PPK management agreement
25 October, 2019
27 October, 2020
27 October, 2020
23 April, 2021 (26 March, 2021 for public finance sector)
Deadline for entry into PPK administration agreement
12 November, 2019
10 November, 2020
10 November, 2020
10 May, 2021 (10 April 2021 for public finance sector)
Important note! Business groups can launch PPK in all Group companies with the deadline provided in the Act for the employer from the Group with the highest number of employees.
The deadlines indicated in the table above are based on the information published at
Contributions to PPK (by both employer and employee) are calculated on the basis of the salary* of the employee. The amount of the basic and additional contribution constitutes the following:
Basic (mandatory) contribution
Additional (voluntary) contribution
Up to 2,5%
Up to 2%
Additionally contributions from the State Treasury
PLN 250 – welcome contribution (if the employee saves under the PPK for at least 3 months).
PLN 240 – annual additional contribution (after fulfilment of the conditions laid down in the PPK Act).
* base for employee pension and disability insurance contribution stipulated in the Act of 13 October 1998 on the social insurance system, without applying the restriction referred to in art. 19 paragraph 1 of this Act and excluding pension contributions assessment basis for pension and disability insurance of those on parental leave or receiving maternity allowance or benefits equal to maternity allowance
**basic contribution financed by the employee may amount to less than 2% of the remuneration, but not less than 0.5% of the remuneration, if the employee’s remuneration from different sources in a given month does not exceed the amount equal to 1.2x of the minimum remuneration.
** After 40 years of saving assuming an adequate rate of return (the fund, however, does not guarantee achievement of the investment goal) - calculations made using the PPK Calculator available at https://www.mojeppk.pl/kalkulator.html. Calculation assumptions: age of an employee enrolled in the PPK – 20 years, PLN 4,000 gross remuneration, basic (mandatory) contribution of the employee to the PPK: 2% of gross remuneration, basic (mandatory) contribution of the employer to the PPK: 1.5% of gross remuneration, projected annual rate of return in the withdrawal period: 2.75%, projected annual increase in remuneration: 2.8%, projected annual average rate of return in the investment period: 3.5%, no additional contributions, saving up to the age of 60, management costs – 0,40%.
** A flat-rate 19% capital gains tax (pursuant to Art. 30a sec. 1 item 11b of the PIT Act) will not be charged on withdrawals made after the participant turns 60 in accordance with the following terms: 25% of total amount of money will be withdrawn at one time and the remaining 75% (or 100% if a decision is made to withdraw the whole amount of money in instalments) over a period of 10 years, in at least 120 monthly instalments. If the withdrawal terms are changed (fewer instalments or withdrawal of all money at one time under the circumstances provided for in the PPK Act), personal income tax will be charged on the disbursed funds and the value of the taxable income will be determined in accordance with Art. 30a sec. 13 of the PIT Act as an amount of proceeds from the repurchase of participation units or redemption of settlement units, less the cost incurred in connection with the purchase of these participation units, or cost of acquisition of these redeemed settlement units.
Throughout the period of participation in the PPK, employee saves in one sub-fund matching the risk level to his age, i.e. in the so-called defined date fund.
Each PPK participant is automatically assigned to the specific defined date sub-fund corresponding to their age. In line with the provisions of the PPK Act, the investment policy of such sub-funds reduces the investment risk as you get closer to the age of 60. Knowing exactly the investment perspective (date of attainment of the age of 60 years), it is possible to initially invest more of the funds (assets) into shares and then (as you get closer to the age of 60) to gradually invest more and more funds in debt instruments characterised by lower investment risk.
Allocation of the defined date sub-funds:
Share part (including shares)
Debt part (including bonds)
from the creation of the sub-fund to 20 years before the defined date
60 – 80%
20 – 40%
20 years before the defined date
40 – 70%
30 – 60%
10 years before the defined date
25 – 50%
50 – 75%
5 years before the defined date
10 – 30%
70 – 90%
starting from the defined date
Eight sub-funds of Santander PPK SFIO investment fund have been made available to PPK participants:
*as at 31 July 2020