Recently, the Polish Development Fund sent correspondence to many companies calling for the conclusion of an agreement on the management of an employee capital plan (PPK). If you have received such a request, we invite you to read this article, which contains instructions on how to respond to such a document.
What is a PPK anyway?
Employee Capital Plans is a voluntary, private long-term saving system available to employees. It is an investment, accumulation of savings in order to pay them out after reaching the age of 60, by paying contributions by both the employer, employee and the state.
I received a call, what next?
First, it should be determined whether the entity is obliged to conclude an employee capital plan management agreement.
As a rule, PPK are required to be introduced by all employing entities (the employing entity is primarily the employer within the meaning of the Labor Code and the principal), with the exception of:
I do not qualify for any of the above groups, what should I do?
Therefore, if you do not qualify for any of these groups, it means that you are obliged to conclude a PPK management agreement.
In such a case, you should contact the financial institution as soon as possible and conclude a PPK management agreement within 30 days of receiving the request. You can conclude an agreement with a designated institution (i.e. PFR TFI SA) or another one of your choice from the list of authorized ones – https://www.mojeppk.pl/lista-instytucji- Finansowych.html
If you decide to enter into an agreement with another than the designated one, you should inform the Polish Development Fund about this fact immediately after its conclusion. The information should be provided via the website https://wezwania-ppk.pfr.pl/ You should log into the form using the NIP number and TOKEN provided in the call.
I am in one of the groups above, what should I do?
If you qualify for one of these groups, it means that you are not obliged to conclude a PPK contract.
In this case, you should inform the Polish Development Fund as soon as possible about the fulfillment of the conditions exempting you from the obligation to create a PPK. The information should be provided via the website https://wezwania-ppk.pfr.pl/ The person logs into the form using the NIP number and TOKEN provided in the content of the request.
Is this the end of procedures related to PPK?
If you are in one of the groups excluded from the obligation to create PPK in the company at the moment, it’s over. However, please remember to check whether the exemption is still valid, especially in the case of micro-entrepreneurs. Loss of the status of a micro-entrepreneur or employment of a new person who does not submit a declaration of resignation from payments will result in the need to conclude a contract for running the PPK.
If you have concluded a PPK management contract, it is necessary to determine for which employees you must conclude a contract on running the PPK, but more on that in the next post.