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PPK – information for employers.
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Benefits of running PPK for employers and employees
Employer
- PPK as an additional element of building an attractive package of benefits offered by the employer (e.g. introducing additional contributions for employees after a specified period of employment, in addition to the basic (mandatory) contribution of 1.5%).
- The employer's costs related to funding contributions to PPK are tax-deductible expenses.
- Contributions funded by the employer are not included in the remuneration that forms the base for determining the amount of mandatory contributions to pension and disability insurance.
Employee
- Additional savings after reaching the age of 60 (an employee enrolling in PPK at the age of 20, with a gross monthly salary of PLN 5,000, can accumulate over PLN 295,000*).
- Investing capital in line with the investment strategy matching the age of the employee and subject to change later.
- Funds within PPK are treated as private, unlike those accumulated for retirement within ZUS and OFE.
- No tax** when withdrawing funds from PPK after the employee turns 60.
- Inheritance of funds accumulated in PPK is not subject to inheritance and donation tax.
* After 40 years of saving, assuming an appropriate rate of return (however, the fund does not guarantee achieving a specific investment result) – calculations made using the PPK calculator from the website https://www.santander.pl/ppk/kalkulator-ppk. Calculation assumptions: age at PPK enrolment – 20 years, employee’s gross salary – PLN 5,000, basic mandatory employee contribution – 2%, basic mandatory employer contribution – 1.5%, 0% additional contribution from both employee and employer, saving in PPK until reaching the age of 60, projected average annual investment return during the investment period – 3.5%, projected annual return during the withdrawal period – 2.75%, projected annual salary growth – 2.8%, management costs – 0.50% (including no more than 0.10% performance fee).
** The 19% capital gains tax (as specified in Article 30a(1)(11b) of the PIT Act) will not be charged in the case of withdrawals after the employee reaches the age of 60, assuming that:
- 25% of the funds are withdrawn as a lump sum and the remaining 75% in at least 120 monthly instalments;
or - 100% of funds are withdrawn in at least 120 monthly instalments.
Changing these assumptions (reducing the number of instalments or withdrawing the entire amount in a lump sum) will result in the need to charge the capital gains tax from the employee. Pursuant to Article 30a(13) of the PIT Act, the taxable income will be determined as the amount withdrawn from the redemption of participation units, reduced by the expenses incurred for the acquisition of those redeemed units.
PPK administration agreement – participants
Every employer implementing PPK is obliged to enrol their employees in the Plan (subject to exceptions provided for in the PPK Act). Depending on the employee’s age, this enrolment is either mandatory or carried out at the employee’s individual request.
| Employee age | PPK enrolment (conclusion of the PPK administration agreement for and on behalf of the employee) |
|---|---|
| 18 years or older but under 55 | Automatic enrolment in PPK (until the employee turns 55) |
| 55 years or older but under 70 | At the request of an employee aged 55 years or older but under 70 |
| 70 years or older | Employees aged 70 or older cannot be enrolled in PPK |
PPK contributions
PPK contributions (by employer and employee) are amounts calculated based on the gross salary of a given employee. The amount of the basic and additional contribution is as follows:
| Contribution* | Employer | Employee |
|---|---|---|
| Basic – mandatory | 1.5% | 2%** |
| Additional – voluntary | up to 2.5% | up to 2% |
| Additional contributions from public funds (Labour Fund) | ||
|---|---|---|
|
* Contributions are calculated based on remuneration that constitutes the basis for calculating pension and disability insurance contributions, as defined in the Act of 13 October 1998 on the Social Insurance System. This excludes the contribution base for individuals on parental leave or receiving maternity benefits. The contribution base is not subject to the earnings cap mentioned in Article 19(1) of the Act.
** Basic contribution financed by the employee may amount to less than 2% of the remuneration, but not less than 0.5% of the remuneration, if the employee’s remuneration from different sources in a given month does not exceed the amount equal to 1.2x of the minimum wage.
Employer obligations related to PPK
Both before and after implementing PPK, as an employer, you are required to fulfil several important obligations.
Before and at the time of implementation of PPK
- Include the additional cost of PPK contributions in financial plans.
- Select (upon consultation with the company’s trade union, or in its absence, with employee representatives) and conclude a PPK management agreement with a financial institution authorised to offer PPK (the list of institutions is available on the PFR portal), as well as conclude a PPK administration agreement for and on behalf of your employees.
- Set up the parameters of the PPK administrative portal provided by the financial institution.
- Adapt the HR and payroll system.
- Determine the list of employees enrolled in PPK.
- Ensure funding of contributions to employees’ PPK accounts after concluding the PPK administration agreement.
After implementing PPK
- Timely and correctly calculate and transfer PPK contributions.
- Administer the PPK documentation.
- Ensure or provide the opportunity for employees to make instructions within PPK.
- Provide specific and timely information related to PPK to employees and the financial institution with which you have signed PPK management and administration agreements.
- Ensure compliance with the deadline for resuming contributions for a given employee to PPK if he/she has previously opted out (re-enrolment in PPK occurs every 4 years).
How are the funds accumulated in PPK invested?
Funds from PPK contributions are invested in funds matching the age of a given employee, i.e., target-date funds. In accordance with the PPK Act, the investment policy of target-date funds is designed to reduce investment risk as the participant approaches the age of 60. Knowing exactly the investment horizon (the employee’s 60th birthday), it is possible to initially allocate a larger portion of assets to equities and then, as the employee approaches the age of 60, invest an increasing share of the assets in debt instruments, which are characterised by lower investment risk.
| Target-date fund allocation: | Equity part (e.g. shares) | Debt part (e.g. bonds) |
|---|---|---|
| from fund inception up to 20 years before the target date | 60 – 80% | 20 – 40% |
| 20 years before the target date | 40 – 70% | 30 – 60% |
| 10 years before the target date | 25 – 50% | 50 – 75% |
| 5 years before the target date | 10 – 30% | 70 – 90% |
| starting from the target date | max. 15% | min. 85% |
Investing involves risk. Santander PPK SFIO subfunds do not guarantee achievement of the intended investment objective or specific returns. Participants must be aware of the possibility of losing at least part of the contributed 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.
Santander PPK SFIO subfunds are exposed to risks related mainly to fluctuations in market interest rates, credit risk, liquidity risk and share price fluctuations.
Before making any investment decisions, please read the fund's prospectus, which includes a full list of risks.
Target-date funds offered by Santander TFI
As part of Santander PPK SFIO, PPK participants are offered 9 target-date subfunds. Their characteristics are available on dedicated subpages after clicking on the name of the subfund.
PPK with Santander TFI – why is it worth it?
- 9 target-date subfunds for participants.
- 0% conversion fee (no fee for changing investment allocation), regardless of the number of conversions performed.
- No more than 0.4% fixed management fee – see details in the table below.
- No more than 0.1% success fee.
- No additional fees for employers or employees for access to dedicated PPK online services and helpline.
- Take care of your financial security – check PPK information on the PFR portal: mojeppk.pl.
Lower management fees for Santander PPK SFIO subfunds – fees are reduced from the beginning of the year in which the subfund reaches the target date.
| Period | Management fee | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| From | To | Santander PPK 2025 |
Santander PPK 2030 |
Santander PPK 2035 |
Santander PPK 2040 |
Santander PPK 2045 |
Santander PPK 2050 |
Santander PPK 2055 |
Santander PPK 2060 |
Santander PPK 2065 |
| 01.01.2021 | 31.12.2024 | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% |
| 01.01.2025 | 31.12.2029 | 0,30% | 0,32% | 0,35% | 0,35% | 0,35% | 0,35% | 0,35% | 0,35% | 0,35% |
| 01.01.2030 | 31.12.2034 | 0,20% | 0,30% | |||||||
| 01.01.2035 | 31.12.2039 | 0,20% | 0,30% | |||||||
| 01.01.2040 | 31.12.2044 | 0,20% | 0,30% | |||||||
| 01.01.2045 | 31.12.2049 | 0,20% | 0,30% | |||||||
| 01.01.2050 | 31.12.2054 | 0,20% | 0,30% | |||||||
| 01.01.2055 | 31.12.2059 | 0,20% | 0,30% | |||||||
| 01.01.2060 | 0,20% | 0,30% | ||||||||
What makes us special
- Over 25 years on the investment fund market.
- One of the biggest and most experienced management teams on the Polish market (licensed investment advisers, holders of CFA and ESG Investing certificates from CFA Institute.
- PLN 28 billion in assets under management.*
- Almost 260 thousand loyal customers.
- Many years of experience in creating and managing Employee Pension Programs (PPE, since 2001), Individual Retirement Security Account (IKZE, since 2023) and Individual Retirement Accounts z (IKE, since 2004).
*as of August 20, 2025
Santander TFI funds are recognised in the market.
Good BrandGood Brand - Quality, Trust, Reputation
1st place in the Investment Fund Companies category
2022, 2023, 2024, 2025
Brand of the 15th anniversary
Super Brand - Quality, Trust, Reputation
Consumer Quality Leader1st place in category
"The best PPK servicing company"
2021, 2022, 2023, 2024, 2025
Efficient Company
and the Diamond of the Polish EconomyThe award is granted by the Entepreneurs's Portal "European Company" and the European Business Institute.
2022
Customer's LaurelGold emblem
2025Bronze emblem
2020Consumer's Laurel Grand Prix 2024
Customer's Laurel TOP BRAND 2025
Alfy rewards Analizy Online31 distinctions in:
2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 20238 awards in:
2013, 2015, 2017, 2018, 2022, 2023
"Parkiet" Golden Portfolio9 Golden Portfolios for the Best Fund Managers
2005, 2006, 2012, 2014, 20182nd place in category "The best foreign shares fund 2019" for Santander Prestiż Technology and Innovations
Orły "Wprost"Prize for Santander TFI in category Business Leader
2020
"Rzeczpospolita"Best Fund Management Company title
2003, 2004, 2005, 2006, 2017
"Puls Biznesu"2 titles Fund of the Year
2009, 2012
We are part of Santander Group.
200 651
Number of employees
in Santander Group8 700
Number
of branches157 000 000
Number
of customers3
Continents on
which Santander
Group is present
- A globally recognised brand, especially on key markets where Santander Group is active (Spain, United Kingdom, Poland, Portugal, Germany, Chile, Argentina, Brazil, United States, Mexico).
- One of the largest financial groups worldwide and the strongest financial institution in Europe in terms of market capitalisation.
- One of the most efficient and stable global banking groups, outperforming the industry average in terms of business growth and key ratios.
- In 2021, The Banker named Banco Santander Bank of the Year in the Americas, Portugal, Argentina, Brazil and Chile.
- In 2021, Euromoney named Santander the World's Best Bank for Financial Inclusion in its Global Awards for Excellence 2021, highlighting the group's efforts to make financial services more accessible. Moreover, Santander was recognised as the Best Bank in Portugal, Argentina and Chile, Best Investment Bank in Portugal and Mexico, as well as Best Digital Bank in Western Europe.
PPK helpline: +48 22 35 54 673
Telephone service for PPK participants and employers is available from Monday to Friday (on all days when the Warsaw Stock Exchange is open) from 9:00 a.m. to 5:00 p.m. Calls charged at your operator’s rate.
Formularz
This document 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 contents of this subpage have been prepared on the basis of the Act of 4 October 2018 on Employee Capital Plans (PPK) and are up-to-date as at the date of their publication on the website. These contents do not constitute legal, financial or tax advice, nor do they replace the applicable provisions of law and should be each time interpreted and used in compliance with applicable legal regulations.
The net asset value of some sub-funds may exhibit high volatility, which results from the composition of the portfolio or the portfolio management technique employed. Some sub-funds may invest more than 35% of their assets in securities issued, guaranteed or underwritten by the State Treasury or the National Bank of Poland.
The rewards of investing in shares 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, key information documents (KIDs) and schedules of fees and charges available in Polish at Santander.pl/TFI/documents. For a summary of investors' rights, see the prospectus (Chapter III, sec. 4).
The Funds do not guarantee the achievement of a stated investment objective or a specific investment performance and 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 sub-fund and take into account the possible taxation of the investment return. The participant must also take into account the possibility of losing at least part of the invested funds.
When investing in mutual funds, the participant purchases the units of those funds and not the underlying assets that the fund itself invests in.
The information on the website may contain advertising content
The information on the website may contain advertising content