Employee Capital Plans

By September 25th, Polish companies employing at least 250 people must communicate with employees regarding the choice of a financial institution that will run Employee Capital Plans (PPK) at the company.
Employees aged 18 to 55 will be automatically enrolled in the PPK. Those who are over 55 may join the PPK at their own request. People over 70 years of age are not allowed to join PPK.
Basic contributions to PPK will amount to:
• 2% gross remuneration that will be paid by the employee (with people earning less than 120% of the minimum wage may apply for a reduction of the premium to 0.5%)
• 1.5% the employee’s gross remuneration to be paid by the employer.
The subsidy from the state Labor Fund will be 20 PLN per month.