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Thursday, May 23, 2024

PPK. Annual subsidies for 2022 for over 1.7 million people

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Over 1.7 million participants of Employee Capital Plans (PPK) received an annual subsidy for 2022. This is according to the information provided by Robert Zapotoczny, president of the PFR Portal PPK. In order to receive an additional PLN 240, it was necessary to meet the minimum amount of payments to the PPK account.

Robert Zapotoczny reminded that each PPK participant who received an annual subsidy for 2022 had to meet an important condition. – Payments to his account or PPK accounts in 2022 had to amount to at least PLN 632.10. However, people who benefited from the reduction of the basic payment they financed had to collect payments of a minimum of PLN 158.03 in 2022, Zapotoczny said in an interview with the Polish Press Agency.

He added that a PPK participant may have several PPK accounts. However, regardless of how many of them he has, he acquires the right to only one annual payment for a given calendar year. The surcharge is PLN 240.

– Annual payments for 2022 were transferred to the accounts of over 1.7 million PPK participants. They amounted to PLN 410.3 million in total, Zapotoczny informed.

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Welcome payment

Persons who became PPK participants under the so-called re-enroll in 2023, the annual surcharge for the previous year is not due. New participants can count on a welcome payment – said Zapotoczny. The welcome payment is PLN 250.

The term of validity of the previous resignations from participation in PPK expired on February 28, 2023. Pursuant to the Act of 4 October 2018 on employee capital plans, auto-subscription to PPK takes place every 4 years. From April 1, employers resumed making payments to PPK for people whose declarations expired at the end of February and did not resign.

The welcome payment is due to a person who has been a PPK participant for at least three full calendar months, if basic payments financed by that participant for at least three months have been made. It is transferred to the participant’s PPK account within 45 days after the end of the quarter in which he met the conditions for receiving it.

Robert Zapotoczny also pointed out that if in 2023 a PPK participant collects the required amount of payments on his PPK account or accounts, in April 2024 he will receive an annual payment for 2023.

To check whether you have received an annual subsidy, simply log in to your PPK account at a financial institution.

The amount of the welcome payment and the annual supplement is fixed and the same for all PPK participants who have acquired the right to them.

Employee Capital Plans

Participation in PPK is voluntary, which means that you can resign from participation in it. At a voluntary moment, you can also withdraw funds accumulated on the PPK account.

The so-called basic contributions to PPK, financed by employees and employers, amount to: 2 percent. gross remuneration to be paid by the employee (while those earning less than 120 percent of the minimum wage may apply for a reduction of the contribution to 0.5 percent) and 1.5 percent. the employee’s gross salary to be paid by the employer.

The employee’s payment is deducted from his salary, which means a smaller salary in hand. In addition, the company is obliged to deduct the advance on income tax from the employer’s payment, which also ultimately reduces the net salary.

Savings are accumulated on an individual PPK account at the financial institution maintaining PPK for a given company.

Importantly, money from the PPK can be withdrawn before switching to retirement, but then we will pay the so-called Belka’s tax (on capital gains) and the money that the state pays us will be forfeited (the welcome payment from the state is PLN 250, and the annual – PLN 240).

Main photo source: Shutterstock

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