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What is PPK?

• PPK, or an Employee Capital Plan, is a universal long-term savings plan within the 3rd pillar of the pension system.
• The aim of PPK is to support systematic saving for the participant’s financial needs after the age of 60. Contributions to PPK come from 3 sources – from the employee and employer – as a % of the employee’s gross salary, and from the state (Labour Fund) – a welcome contribution and annual contributions.
• PPK is mandatory* for employers – employers must set up PPK at their companies.
• PPK is voluntary for employees – employees aged 18 years or older but under 55 will be automatically enrolled in PPK by their employers, while having the option to opt out of contributing to PPK at any time. Employees aged 55 years or older but under 70 may enrol in PPK by submitting a written request to their employer.
• PPK contributions are invested in target-date funds, whose investment policy, according to the PPK Act, limits the level of investment risk as the employee approaches the age of 60.
• Funds accumulated in PPK are the private property of the employee.
• Institutions authorised to operate PPK are: investment fund companies, general pension fund companies, employee pension fund companies, and insurance companies.

*Employers are not required to join PPK if:
within the deadlines indicated in the PPK Act, they operate Employee Pension Programmes (PPE), calculate and pay a basic contribution for their employees (for at least 25% of employees) in the amount of at least 3.5% of remuneration, are sole proprietors and employ individuals for work unrelated to their business activity and the business activity of those individuals, are micro-entrepreneurs as defined in Article 7(1)(1) of the Entrepreneurs' Law Act of 6 March 2018 (Journal of Laws of 2019, items 1292 and 1495, and of 2020, items 424 and 1086), provided that all employees submit an opt-out declaration to the employer.

This information is presented for marketing purposes and does not constitute an agreement or an information document required by law.

It should not be relied upon as the sole basis for making investment decisions.

The net asset value of some subfunds may be highly volatile due to the composition of the portfolio or the adopted portfolio management approach. Certain subfunds may invest more than 35% of their assets in the securities which are issued, underwritten or guaranteed by the Polish State or the National Bank of Poland.

The rewards of investing in fund units are also accompanied by risks. A description of the risk factors, financial data and information about fees and charges can be found in the prospectuses and key information documents (KIDs), available in Polish at Santander.pl/TFI/dokumenty. For a summary of investors' rights, see the prospectus (Chapter III, Section 4).

Investment funds do not guarantee achievement of the expected investment objectives or specific returns. Future returns are subject to taxation, which depends on the personal situation of each investor and which may change over time. Before making an investment decision, the participant should consider the fees associated with the subfund and the possible taxation of the investment return. The participant must also take into account the possibility of losing at least a portion of the invested funds.

When investing in investment funds, the participant purchases the units of those funds and not the underlying assets that the fund itself invests in.