Poland to introduce new employee pension programs

Starting from 2019 at the latest, Poland will introduce a new employer-sponsored pension program PPK. “We want to create a system where workers, employers and the state would contribute to the 3rd pillar of the capital system. We are determined to be in place by 2019 at the latest. Even with conservative assumptions, it will bring in several PLN billions,” Deputy PM Mateusz Morawiecki said. According to the plan, employees and employers will pay a contribution amounting to at least 3.5 percent of wages to the scheme. According to Quercus TFI CEO Sebastian Buczek, if a high number of Poles join the plan, it could bring PLN 5-15 billion each year, which would be a noticeable amount from the perspective of the capital market and the economy.