48% Participation in Employee Capital Plans
Employee Capital Plans (PPK) currently involve 30,000 more participants than last month, totaling 3.53 million people from 324,000 entities. This translates to a participation rate of 48 percent. The number of active PPK accounts has also increased, now reaching 4.18 million. Participation in the program is gradually increasing across all entities, regardless of their size. The highest participation rate is 76.34 percent in entities employing over 250 people, while the lowest is 32.98 percent in entities employing fewer than 20 people and in the public sector. Additionally, the number of participants over the age of 55 has grown from 7.98 percent to 8.22 percent.
The net asset value (NAV) of defined-date funds increased by PLN 984 million, bringing the total to PLN 27.45 billion. The average cost of managing PPK remains unchanged at 0.331 percent. Currently, 17 financial institutions manage PPK. The average management fees, along with other administrative or operational costs and transaction costs, amount to 1.08 percent of investments annually.
The profit of a typical PPK participant (earning PLN 5,300 until the end of 2023 and PLN 7,000 from 2024), who has been saving in PPK since December 2019, ranges from 127 percent to 172 percent depending on the FZD group.
(WBJ)
