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Indexation of pension contributions 2023 – how much will the balance of ZUS accounts increase? Index for 2022

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Our pension account will be indexed by 14.4 percent in June, according to the announcement of the family ministry. The funds saved in the accounts with the Social Insurance Institution are the basis for calculating the amount of the benefit after reaching the retirement age.

Announcement of the Minister of Family and Social Policy on the indexation of pension insurance contributions for 2022 was published in Monitor Polski. It shows that the state of pension accounts in ZUS will be increased by 14.40 percent.

According to the data provided on the ZUS website, this is the second highest indexation rate. In 2009 (for 2008) the accounts were indexed by 16.26 percent.

Last week, the vice-president of the management board of PKO TFI, Grzegorz Chłopek, predicted that the account in ZUS and the initial capital will be indexed at 15.26 percent.

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Chłopek then added that the funds accumulated in sub-accounts are to be indexed by about 9.04 percent, which will be the highest result so far. Sub-accounts in ZUS are held by those persons who, after 2014, decided that they do not want part of their contributions to be transferred to OFE. Funds on the sub-account – unlike the basic account – are inherited.

“The indexation of pension contributions for 2022, however, was 14.40 percent, i.e. the lower limit worked – inflation average,” an analyst wrote on Twitter on Thursday.

Who will benefit from the indexation of pension contributions?

“The valorized amounts will be added on June 1” – Chłopek noted earlier on LinkedIn. Therefore, it is worth remembering that people who plan to switch to retirement in the near future, they should hold off a little longer, because thanks to this they will benefit from the indexation.

“A person who has accumulated PLN 400,000 for retirement will have 14.4% more in his retirement account in July – i.e. PLN 57,000. With PLN 500,000 of accumulated savings, the account will increase by as much as PLN 72,000 zlotys” – calculated “Fact”.

The newspaper added that in practice this means that “if, for example, a 60-year-old woman who has accumulated PLN 400,000 in contributions retires now, she can count on a benefit of PLN 1,573 gross”, and “if she waits until July, will benefit from the annual indexation of the account” and “thanks to this, its benefit will be higher by PLN 226”.

March indexation of pensions

Old-age and disability pensions are indexed annually on 1 March. This year, the indexation is based on the amount and percentage – benefits increased by 14.8 percent, but not less than PLN 250 gross.

After this year’s indexation, people who receive the highest benefits gained the most. Pensioners who have so far received a benefit of PLN 2,000 gross (PLN 1,820 net) will receive PLN 269 more. In the case of people who received a pension of PLN 5,000 gross (PLN 4,250 net), it will be more than twice as much, i.e. PLN 585 net.

Pensions before and after indexation

In total, about PLN 44 billion was allocated for this year’s indexation.

Main photo source: Shutterstock

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