Pensions and the condition of ZUSwho is supposed to pay us these pensions – these topics arouse great emotions. Especially in view of the demographic crisis and in the face of gloomy forecasts, which show that currently working adults may be able to count on only 25 percent. replacement rate – this percentage of the last one salary they will receive after the end of their professional career. This is what they come up with myths on topic Social Insurance Institutioncirculating among Poles. Including the most popular ones: that ZUS will go bankrupt and that it is a “financial pyramid”. What is the truth?
ZUS is 90 years old. Could it go bankrupt?
– ZUS was created exactly 90 years ago. And interestingly enough, it was already predicted that this social insurance would not be accepted, that it would collapse – tells us Dr. Tomasz Lasocki, a social security specialist from the Warsaw University of Technology.
He emphasized that it is not a problem that ZUS, or more precisely FUS – the Social Insurance Fund – spends more on benefits than it collects from contributions. Referring to what awaits us in the relationship, among others: That changes demographics, stated: – It is very likely that the Social Insurance Fund will be balanced in the future and this is terrible news. There will be fewer of us working and more of us receiving money, but our pensions will be calculated completely differently [niż naszych rodziców -red.]. We will not have initial capital, he explained.
What does this mean? Are we doomed to starvation pensions? What can be done – both at the state and individual level – to remedy this and have a decent pension? Is it possible to defend the statement that ZUS is a “financial pyramid”? We invite you to watch or listen to the conversation (linked below the first paragraph of this text).
Beware of business activities
The expert also warned those who, at the beginning of their professional career, agree to civil law contracts (contracts of mandate or for specific work), and then try to “escape” contributions by running a business, using various types of relief (such as the so-called small ZUS). – These are more people who will later have very low pensions – he said. – We need to prepare the system in such a way as to escape the threat of minimum pensions, preferably now – emphasized Tomasz Lasocki.