In January 2023, two new regulations on PPK entered into force. Clients of our PRWT accounting office ask us how the new regulations affect their duties?

Art. 23 of the Polish Act on Employee Capital Schemes (hereinafter referred to as the “Act”) has been enriched with sec. 5 and 6.

According to sec. 5 of the Act, every four years, by the last day of February of a given year, the employing entity shall inform the PPK participant who has submitted a declaration of resignation from the PPK about making payments for this participant again in accordance with sec. 6.

In turn, sec. 6 specifies that every 4 years, from 1 April, the employing entity makes payments for the PPK participant who submitted a declaration of resignation, unless the PPK participant again resigns from making payments to the PPK by submitting a declaration to the employing entity. The provision of sec. 4 of the Act shall apply accordingly in this case.

What does this mean in practice?

Declarations of resignation from PPK submitted by employees expire on February 28, 2023, about which employees should be informed. Persons who do not want to participate in the PPK must re-declare their resignation from the PPK. The declaration of resignation should be submitted by March 1, 2023 at the earliest.