Poland proposes merging IKE and IKZE for retirement savings — RMF24

In Poland, a working group at the Social Dialogue Council has prepared a report with proposals for changes to the voluntary retirement savings system. Among the ideas is merging the IKE and IKZE individual retirement accounts into a single product called IKE+. This was reported by RMF24.

Seven reform proposals

The working group of the problem team for social insurance also proposes introducing a universal account on which a saver could simultaneously hold assets of different classes. Another initiative provides for standardizing the age at which payments can be received at 60.

The list of proposals includes strengthening tax incentives, bonuses for long-term savings and creating unified pension information. In such a system, citizens could review all their pension entitlements in one place. Expanding savings opportunities is also being considered, including raising the limit multiplier for IKZE.

Expert assessments

Marcin Materna, an investment adviser at Millennium Dom Maklerski, positively assessed the systemic approach to the reform but expressed doubt that there is still sufficient time for large-scale changes. He also drew attention to the introduction of OKI, which, he said, are intended to become the main form of savings, and to a possible lack of budget funds for additional tax incentives.

More current news is available on the UA.News Telegram channel Telegram.

Labour market expert Oskar Sobolewski criticized the merger of IKE and IKZE, considering the diversity of these products to be their advantage. At the same time, he supported the ideas of bonuses for long-term savings and changes to tax incentives.

Proposals for employers

Marcin Wojewódka, president of the Pension Institute, stressed the need to simplify procedures for employers. He supported equalizing the systemic status of employee pension programmes, PPE, with PPK programmes, as well as abolishing the obligation to register changes to PPE with Poland's Financial Supervision Authority.

The working group's report is to be submitted to the social insurance team and then to the presidium of the Social Dialogue Council. If the social partners reach a unanimous position, the proposals will be sent to the Polish government.