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However, if you can still make a choice and you would like to send some of your money to OFE, you should sign a contract with one of the companies and send a special form to ZUS after that. I will do my best to publish an article about this in September at the latest. Services• Ok, so what do they want from you in the letter? Go straight to sections: Sources: Thank you very much for this article. Still, Polish demographic situation makes people skeptical about their guarantees. If you started working in Poland before July 2014, or if you were born before 1968 you should consult your case with ZUS clerks. The project is still being determined. Sims and Tariffs• 20 PLN That means that if you work in Poland for 5 years and earn 4,000 PLN gross, you will invest 46,848 PLN in your future old-age pension. Thank you for still being here. I will explain why it works like this later on. This gives great clarity on the Polish system. There is no official description of projected changes but is pretty sure that OFE will finally end in January 2018. marriage annulment• Would you be okay if I write to you for some clarifications? The operation is scheduled to start on Monday, the 22nd of January, but the magazine admits that it may be rescheduled. 48 PLN directly and you cost your employer 2,412. In the public one their future pensions would be paid by the next generations, so the risk was that the system would eventually collapse because of demography. or divided:• Update on: 2020-06-02 App uploaded by: Gavin Sookhbarow Requires Android: Android 4. In the private one pensions were meant to come from the collected capital and investment profits, but the risk was that the company would take losses in investment. decide whether you want to send all your contributions from the second pillar only to the ZUS sub-account, or if you want to divide it between OFE and the ZUS sub-account;• Now all insured people have ZUS accounts and sub-accounts. In fact the more and longer you pay, the higher your pension should be. Second pillar — you need to choose between private and public funds The second pillar is made up of two parts: Open Pension Funds and a sub-account in ZUS. There is no real money in ZUS There is no real money in your ZUS account and sub-account. The Open Pension Funds OFE are managed by private institutions — General Pension Societies PTE. Update on: 2020-11-09 App uploaded by: Gajender Singh Requires Android: Android 4. However, I also offer paid research reports for my concierge clients tailored to their needs and specific situation. In a nutshell Monthly old-age pension insurance contribution equals 19. Update on: 2019-11-09 App uploaded by: Martin Almonacid Requires Android: Android 4. — If the actual address of residence is different than the registered address of residence — please write the actual address of residence, but if the correspondence address is different than actual or registered address of residence — please write the correspondence address. — By completing this declaration the insured person confirms that the declared information is honest and complete, and takes the responsibility of effects deriving from giving false or incomplete data. The third pillar is voluntary and managed only by private companies Polish pension: Criteria for classification of three old-age pension pillars Source: Social Security in Poland, edit. Managing your account• Third pillar The third pillar is voluntary and administered by private institutions. Conclusion The final answer depends on your individual situation. Please send me a message to if that interests you. Phones• Additional explanations and help with filling out the forms can be obtained in any ZUS branch and through the Phone Support Center, tel. Perks• Do you know anything about this? Back in 2014 OFE companies were banned from advertising their services in order to keep them quiet when the government urged people to choose ZUS only. Old-age pensions cost the most Excluding personal income tax, the biggest part of your income goes to old-age pension insurance contributions. Zapraszamy do kontaktu z nami, napisz na adres aplikacje-poczta o2. What options do they have to transfer this money to another pension fund? The second form, and old-age pension savings inheritance and distribution rules deserve their own article. First pillar — the easiest one The first pillar is managed by ZUS only. Perhaps you could elaborate further on the possibility of transfering this pension contribution to another country. This is one of the biggest public institutions in Poland, established in 1934. special sub-account in ZUS public• Update on: 2021-01-18 App uploaded by: Gajender Singh Requires Android: Android 4. Most likely your retirement conditions will be much worse in these 20-40 years. Everything that ZUS gets from you is spent on current old-age pensions. Out of sight, out of mind — how much does your work cost? There are many pension schemes for people of different ages, but we will focus only on the current system — for people born after 1968 — after its modification in 2014. Update on: 2020-01-06 App uploaded by: Gavin Sookhbarow Requires Android: Android 4. Top queries• either sent only to the ZUS sub-account• Other ways to get help• Occupational Pension Programmes Pracownicze Programy Emerytalne, PPEs• 2017 The ZUS sub-account is reassessed on the basis of the nominal GDP growth for the last 5 years. Kod pocztowy — Postal code 02. Individual Old-age Pension Protection Account Indywidualne Konto Zabezpieczenia Emerytalnego, IKZE. The brochure is very informative, clear and translated to perfect English by Mr. divorce• Connected• DANE IDENTYFIKACYJNE — I dentification data 01. Please check this chart presenting the rate of return from the beginning of OFE to 2. directly in the customer service center at any ZUS branch;• You already know the differences between your net and gross salary. OFE companies will be automatically moved to the third pillar. Accessories and more• It should be pointed out that funds recorded on the sub-account can be distributed — in the event of divorce or marriage annulment, or be inherited by those closest to a person in case of death of a person who has a sub-account in ZUS — on equal terms with the financial means deposited in the open pension funds. Accessories and more• My colleague called ZUS and asked about the pension entitlement in case I leave Poland, and surprisingly, he was told I will not get any pension even if I retire in Poland because I am from a country which is neither EU member state nor has a bilateral agreement with Poland I am from China, btw. Young Poles are said to not rely on their future pensions. You can read about all of them in the excellent prepared by ZUS itself a year ago. Currently a ZUS account and ZUS sub-account are obligatory, but people who start working in Poland for the first time may choose whether they want to send some part of their contributions 2. In practice that means that your OFE account capital will be changed into Individual Old-age Pension Protection Account IKZE capital. OFE will end soon I also need to add that the system has been destabilized by the projects of the current government once again. If you have time, you should contact OFE companies and look for further information that could convince you to sign a contract with them and send a form to ZUS. 10 years before you reach retirement age your OFE money will be slowly transferred to ZUS once per six months until all your money becomes virtual. Hi Maciek, once again thank you for the article, very well written! I had this letter for a long time with me and not knowing what to do with it. Both forms are used for the proper division of your money. Employee Employer old-age pension insurance 9. Take a look at your gross salary and please check what percentage of it goes to public institutions. Money recorded on your ZUS sub-account can be divided in the event of:• The point is that ZUS sends their letters after this 4 months period at least in my case they did it. First in 2011 and then in 2014 the government changed the system and introduced ZUS sub-accounts. — Indication of the phone number and e-mail address is not mandatory. Connected• Why you need to decide between OFE and the ZUS sub-account Back in 1999-2010 there was no ZUS sub-account and people had only ZUS and OFE. Flexibility• Services• cease of statutory joint property of spouses during marriage• 60 PLN of the employment total cost. Individual Old-age Pension Account Indywidualne Konto Emerytalne, IKE• You can find the second, voluntary form and fill it out with your Polish friends or ask the clerks in ZUS for help. Zagraniczny kod pocztowy 3 — Foreign post code 1 1. Hello Marelke, thank you for your comment and for suggesting me an important topic. Very useful for the expats the way you have detailed. Guaranteed pensions Polish pensions located in ZUS are guaranteed by the Treasury, whereas no one will guarantee that you will get the part of your money from OFE which are private institutions. Better financial results Depending on your choice, the seize of the part of your future pension will depend either on the level of valorisation of your virtual money in ZUS or on the investment performance of OFE. The prospects are that from this year to 2021 the system will have a 50 billion deficit annually. They did this because they needed some quick solution for a ZUS deficit without introducing unpopular pension reforms. Other ways to get help• If you can manage to put together some info on this in the future, I would very much appreciate it:• Polish pension system: What is ZUS? Device help• The second pillar now has two parts:• Dear Sir or Madam After the recent changes in the law on the affiliation of the second old-age pension pillar you can decide if part of your social pension contribution in the amount of 2. That is quite important, because money from IKZE can be taken of, contrary to money in OFE. Managing your account• However, participation in the system is obligatory. Numer lokalu — Flat number 08. This will enable the indicated persons to inherit the funds recorded on the sub-account. via post sent to the address of any ZUS branch addresses are available on www. Both forms are available online on www. Most of my readers are employed under an employment contract. The difference was that ZUS was public and kept virtual deposits, and OFE were managed by private companies that really kept the money of their members in the form of investment capital. You can either send the full amount of 7. I would like to ask you if you plan in the future to write about taxes for self-employed people. The first pillar is managed by a public institution — ZUS• According to Gazeta Prawna, this money will be taken care of in February. 40a of this act in the event of death. Many say that capital in OFE is subject to market risk so falls in stock-markets will result in your losses. In view of the above the Social Insurance Institution kindly requests the following documents:• I definitely suggest that you read it, as it describes the entire Polish social security system, including all forms of financial support that you can expect from the government. Perks• Unfortunately in both cases it will be very low. Phones• Imagine being in Poland when they introduced this reform and did everything to convince people to choose ZUS sub-accounts only. What will be happen with their Polish Pension ZUS, disappear or they can claim later• Open Pension Funds — OFE managed by private companies• I recently read a article on your FB regarding the residence application for non-EU residence. According to this idea people were meant to get their pensions from two obligatory systems: a public one and a private one. For 6,000 PLN gross it will be 4,247. The system is already inefficient. It plays a major role in the entire Polish social security system since the reform of 1999. 96 PLN net and your work costs 4,824. Update on: 2020-04-03 App uploaded by: Martin Almonacid Requires Android: Android 4. OFE comparison at the rate of return from the beginning as of 2. Right now there are 12 such companies that you will find later in this article. The letter Before I start explaining the system, please let me translate the letter that you receive from ZUS within half a year after you start working in Poland for the first time. I imagine that within your followers, this might be a very small percentage though. As many expats might not stay in Poland until retirement. Sims and Tariffs• Hi Maciek Thanks a lot you post this useful article! In the letter they ask you to do three things:• Politicians did their best to make sure that in both cases your pension based on two obligatory pillars would be comparable. Hi Maciek, I got an urgent question regarding the pension benefits. If your gross salary is 4,000 PLN, you get 2,853. Hi Maciek, This is a wonderfully written article. Which option will secure you a bigger pension? Their decision can be changed within the next transfer window that will be open in 2020, from April to June, and then again and again every four years — except for the fact that the current government wants to finally close the second pillar in 2018 you will find more information on it later in this article. Numer telefonu 2 — Phone number 09. DANE ADRESOWE 1 — Address 01. You can also participate in the third pillar on a voluntary basis. Device help• The documents can be submitted:• How does the Polish pension system work? Flexibility• Top queries• provide them with the data of the person entitled to inherit your ZUS sub-account money if you want to choose anyone. Hopefully one day JAP will grow big enough to cover all these topics. It was a huge public debate and a very controversial political action processed in a terrible manner. There are too few working people to pay current pensions and there are going to be fewer. Declaration on property relationships between the insured person and their spouse — if the insured person is married;• I also would like to know about this pension contribution for expats non EU citizen who might not living in Poland on their old-age pensions example if they back to their origin country non EU countries. They will send you a letter in which they will mention three things: Open Pension Funds, property relationships with your spouse and your pension sub-account. Hi Iulia, thank you for your feedback 🙂 There will be some articles for B2B contractors but probably none of them will answer all your questions.。 。
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