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In February, over PLN 117 million was withdrawn from employee capital plans (PPK). Commentary by Paweł Borys

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In February, more than PLN 117 million was withdrawn from employee capital plans (PPK), reported “Puls Biznesu”. Paweł Borys, president of the Polish Development Fund, which oversees the functioning of the PPK, commented that “payments do not worry us too much.” – Some participants are definitely testing the system – they check whether it is actually private money and can be withdrawn – he explained.

The newspaper indicates that “a wave of payments from PPK, a program in which Poles can collect savings for retirementThe data provided by the daily show that in 2022, an average of PLN 50 million was paid out per month, while in January this year it was over PLN 80 million, and in February PLN 117 million. Nevertheless, the balance of inflows remains positive – in February it amounted to almost PLN 300 million, notes “Puls Biznesu”.

Read more: All your retirement information in one place. A special application will be created>>>

Reasons for withdrawals from PPK

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Paweł Borys, president of the Polish Development Fund, which oversees the functioning of PPK, said that “payments do not worry us too much”.

– We have a total of 2.5 million participants, and 60,000 decided to withdraw money. These are often the same people month after month. Some of the participants are definitely testing the system – they check whether it is actually private money and can be withdrawn – he explained.

How do PPKs work?TVN24

It was noted that the increasing payments may also be the result of the information campaign conducted by PFR and the fact that the media reminds about the auto-subscription to the PPK, which makes the previous resignations invalid in March. – As part of the social campaign, we drew attention to the fact that the funds can be paid out. The research shows that the basic problem is related to issues OFE – people wonder if PPK is private or public, so we wanted to show them that it is their money that no one will take away. That is why we informed about the payout scale. This may have provoked further payouts. Of course, the economic situation is also important – we pay slightly higher bills, so probably some people decided to use this additional financial buffer – says Paweł Borys.

Read also: An important decision in front of millions of employees. “This is such a deferred bonus”

Main photo source: Nataly Reinch/Shutterstock



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