Employee Capital Plans (PPK) is a long-term savings programme for employees. As of 1 July 2019, the largest Polish companies (employing more than 250 people) were obliged to implement PPK, in subsequent stages smaller companies and organisations and institutions from the public sector also joined the programme.
Participation in PPK is voluntary. Persons between the ages of 18 and 54 are automatically signed up to the programme, while signing out requires the submission of an appropriate declaration. Every 4 years all persons belonging to this age group will be re-enrolled in the Employee Capital Plans under the so-called auto-enrolment. In order to unsubscribe, another declaration must be submitted.
People between the ages of 55 and 70 can join the PPK by expressing their desire to participate in the programme – by signing up.
The Act on Employee Capital Plans imposed many new obligations on employers, including registering the participants of the programme with a financial institution, calculating the PPK contributions and fulfilling information obligations.
Under Employee Capital Plans, each employee may submit a number of declarations, which the employer will be required to take into account during the process of calculating contributions and then send to the financial institution managing the company’s PPK.
Employers who fail to comply with the PPK Act obligations can face heavy sanctions.
For companies participating in PPK we provide comprehensive support in the ongoing administration of the programme, ensuring the compliance of the process with current legislation. We offer the calculations of PPK contributions including processing of the declarations and providing full communication with the financial institutions managing the programme for our clients.
Our PPK support includes the following services:
Compliance of the process with current legislation
Constant monitoring of the contribution levels
Constant monitoring of the deadlines
Adaptation of systems to the changes in legislation
PPK support services – find out how we can help!
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