Standing Committee of the Council of Ministers this week to lower the retirement age – Polish Radio

Retirement Savings Accounts or program of long-term accumulation for future pension “3 x 50 PLN” Photo: Glowimages

They help with this Retirement Savings Accounts. This new program of long-term accumulation for future pension could be closed in the slogan “3 x 50 PLN.”

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Financial Supervision Commission proposes Retirement Savings Accounts to operate alongside the existing instruments. Joining this program would be voluntary.

– This is a saving program based on the fact that the employee of his own pocket, with after-tax salary is deposited 50 zł per month, and paid the money to one of the financial institutions. This may be a bank or insurance company, mutual fund, brokerage firm, or voluntary pension fund – explains the guest Ones Pawel Sawicki, director of the Department of Licensing of Insurance and Pension Funds KNF.

And the employer then says this: employee, if you deposited 50 zł, then I will add another 50 zł, but on condition that you out of pocket you will use another 50 zł. And the second 50 zł, carried by an employee would be exempt from PIT. From the point of view of the employer – turn his 50 zł would be exempt from corporate income tax (CIT) and formed part of the basis for calculating social security contributions.

– In this way, we have 150 zł per month or 1,800 zł per year – lists Pawel Sawicki.

What gains budget, and employee on ECO?

First of all, it is important to persuade employers to participate in the Program. But the second serious question is whether the state budget will be satisfied, if not for his influence money PIT?

– The state budget will not gain 108 million zł per year from PIT and 114 million zł from CIT if przystąpiłoby million people to this program. This is not a great amount, while savings and employees, and the associated release of the State from the obligation of taking care of the future of pensions for employees is very important argument -ocenia director Pawel Sawicki of the KNF.

By regularly depositing on retirement Savings Account, future pensions would be noticeably higher. About how much?

– KNF course adopted certain assumptions. They include few percent rate of return on investment. That is, putting 150 zł per month, after 40 years of employee hangs up 410 thousand. zł. However, as regards the so-called. replacement rate, ie the ratio of the first pension to the last salary, is at present the average wage approx. 4 thousand. zł, it is about 1/2, and the saving on EKO – would be 2/3 – predicts guest radio Ones.

Mandatory III. pension pillar?

The Poles still reluctant to save in the third. pillar, despite operating for a long time the possibility of depositing money for retirement, and special incentives. Is Retirement Savings Accounts will enliven our III. pension pillar?

– The latest data on IKE, IKZE and PPE that the total authorized to saving, so people who have concluded an agreement at the end of 2,015 years was 1 847 thous., of which 392 thousand . the participants PPE, 858 thousand. accumulates in the IKE and 597 thousand. people in IKZE. In reality, however, the IRA saves only 33 per cent., Since only enough to accounts received premium. In IKZE is even worse, because oszczędzało only 25 percent. – Says an expert from the Financial Supervision Commission.

A workers in Poland is several million. As you can see, these 1 847 thousand. accounts only 742 thousand. accounts were the fed. And the best PPE fall here, as much as 84 percent. accounts was powered contributions.

It might be worthwhile therefore to introduce a duty to participate, in order to activate the third pillar. It is the idea of ​​a far-reaching, because, among others, contains an obligation and not voluntary nature dopłacenia 50 zł by each employer for each employee.

– certainly an interesting idea from the point of view of pension savings worth considering, but would require extensive consultation with both employers’ organizations, as well as with trade unions, and a wide public consultation – emphasizes guest Ones Pawel Sawicki, director of the Department of Licensing of Insurance and Pension Funds KNF.

Blazej Prośniewski, mb