Will Poles transfer PLN 985 billion from current deposits to OKI? The Ministry of Finance counts on this
At the earliest in mid -2026, personal investment accounts (OKI) will start, to encourage Poles to move funds from current deposits to deposits and investments. The goal is to start the Polish stock exchange and raise long -term capital for investments. The Ministry of Finance assumes the involvement of PLN 100 billion by consumers in two or three years. According to the chairman of the Council of the Society of Polish Economists, considering the reluctance of Poles to risk, perhaps the idea of dividing a beam -free amount into a more risky part (three times higher) and safe may not be quite hit.
– The goal of the Ministry of Finance is that in the period of two or three Poles save about PLN 100 billion within OKI. The question arises whether 100 billion is a lot or not – says Newseria news agency dr Jarosław Janecki, lecturer at the Warsaw School of Economics, chairman of the Council of the Society of Polish Economists. – For comparison in retail investment funds, without PPK, we have about PLN 250 billion. Other forms of saving function, we have IKE, IKZE, PPK and as part of these three forms of saving, Poles accumulated about PLN 38 billion, i.e. they did not prove to be attractive for Poles to make an effort and start saving. The potential is quite high due to the high value of deposits that are not interest -bearing and could be part of the savings.
August 5 this year The Minister of Finance and Economy Andrzej Domański presented a new solution for saving, which is to promote the development of investments and innovation and increase the competitiveness of the Polish economy. This is a personal investment account in which you can invest up to 100,000. PLN without tax, including in the savings part up to 25,000 zloty. This means safe bank deposits or savings bonds that do not carry risk, i.e. guarantee a nominal, predetermined profit. Other 75 thousand PLN intended for investments in shares, bonds in funds, ETFs. For funds above the limit of 100,000 PLN low tax on assets (i.e. all the amount, not only profits) in the amount of 0.8-0.9 percent is to apply. investment value.
– The problem may be that not everyone will want to use the possibility of saving in this non -gligrant, non -block part, i.e. on the stock exchange. Not necessarily everyone has the same risk, some will not want to risk it. Perhaps it would be better if those unacceptable 100,000 It was not divided at all and a choice for the consumer would be left for the investor, how to build his own portfolio: or really 25 percent. in safe assets, and 75 percent Not necessarily in the more risky – indicates the economist. – This aversion to the risk of every consumer is different and it would be good if there was a little more freedom here.
According to the data of the National Bank of Poland, Poles kept over PLN 985 billion at current deposits – personal accounts and savings accounts. These funds are virtually interest -free, because on personal accounts, the costs of keeping accounts exceed the minimum interest, and savings accounts offer attractive rates for short periods, often only to new customers. However, even those who decide on slightly more risky instruments, such as investment funds, direct their capital to the safest products: debt (bond) funds.
According to Analyzy.pl's report, in July customers paid a record amount of PLN 5.8 billion in retail funds, but as much as PLN 3.6 billion of this amount went to short -term debt funds. On the other hand, joint funds have already recorded net outflows for the sixth month in a row, despite the unprecedented bull market on the Warsaw Stock Exchange: July was the eighth of a month of growth on the WSE, and from the beginning of the year to mid -year to the middle of the summer holiday the Warsaw WIG index gained over 35 percent.
Despite these doubts, Jarosław Janecki considers Oki an attractive product.
– The very fact that we will have a new form of saving and as a result we will earn income that will not be taxable, is so attractive that virtually every bank offering savings deposits will offer their clients such deposits under OKI, i.e. it will be a standard offer of banks, but also other financial institutions – provides the chairman of the Society of Polish Economists. – Hence the shift of such funds from deposits that we have in banks today, to deposits as part of OKI.
As the Ministry of Finance justifies, the purpose of planned changes is to stimulate savings, investments and expenditure on innovation in the Polish economy, as well as the development of the domestic capital market. These proposals are also to encourage Poles to place funds in assets with a higher profile profile. Some of these funds could fund the financing of innovative projects, while creating a chance to increase the saving wealth.
– OKI may affect the capital market in this respect that perhaps people who did not take into account investments on the capital market today will wonder whether by accident of these 75,000. PLN, which could invest, not allocated any funds, maybe not necessarily to buy shares, but for example for the purchase of ETFs – says the lecturer at SGH. – This idea is also aimed at starting the Polish stock exchange and we will see how small investors will react to it. There is a chance that this will be the case, provided that Polish companies actually become attractive in the eyes of investors to invest in them.
