Poland To Transfer State Mandatory Pension Funds to Individual Accounts

Connecticut Enacts Paid Family and Medical Leave

All of Poland’s state mandatory private pension funds (OFE) will transfer to individual retirement accounts (IKE) effective 1 July 2020, under a recently approved bill (Polish).

Employees’ mandatory pension contributions (9.76% of gross salary) are currently paid to the State Insurance Institution (ZUS) and to the OFE. Beginning July 2020, contributions will automatically transfer to ZUS and to individual retirement accounts, unless an individual requests to have contributions paid to a state social insurer. A total of PLN 155 billion will transfer to 15.8 million individual retirement accounts opened by private pension funds that participate in the OFE.  

In other reforms, the next phase of pension auto-enrollment (PPK) will start in January 2020 for Polish employers with between 50 and 250 employees.  

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Krzysztof Nowak
by Krzysztof Nowak

Poland CEO, Mercer

Fiona Webster
by Fiona Webster

Principal, Mercer’s Law & Policy Group

Stephanie Rosseau
by Stephanie Rosseau

Principal, Mercer’s Law & Policy Group

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