2025-10-24 14:05
publication
2025-10-24 14:05
There is a large group of society who believe that the bond part of OFE has been lost to them. That's why the participation rate in PPK was so low at the beginning. I propose that the politicians who decided on this should pay their remuneration in bonds that were transferred to the ZUS account – said Michał Masłowski, vice-president of the Association of Individual Investors, during the debate on pensions.
Debate “Retirement on your own – will IKE, IKZE, PEIPE and PPK convince Poles to save?” took place as part of the Bankier.pl Finance Forum in Wrocław.
It was attended by:
- Tomasz Fronczak, Director of the Pension and Savings Programs Office, TFI PZU
- Mariusz Jaszczyk, Vice-President, Polish Development Fund
- Krzysztof Waliszewski, Professor, Poznań University of Economics
- Michał Masłowski, Vice-President, Association of Individual Investors
- Moderator: Krzysztof Kolany, Chief Analyst, Bankier.pl
Krzysztof Waliszewski, Professor, Poznań University of Economics: Diversity is better than uniformity. If only because there is competition. There is also a possibility of tax relief for each of the pension products. Everyone will find something for themselves. And stability and immutability of principles are important.
Mariusz Jaszczyk, PFR: Find an article in banking law that says that the funds accumulated in the account belong to us. In turn, it is explicitly stated in the PPK Act. This was a response to the question about fears that the state would take funds from PPK, just as it “took” from OFE.
Tomasz Fronczak, Director of the Pension and Savings Programs Office, TFI PZU:
There are many people who check whether the money in PPK actually belongs to them. There are people who have withdrawn money once or twice. There are people who just make regular payments.
Krzysztof Waliszewski: The replacement rate for 30-year-olds is approximately 30%, so they are de facto at risk of retirement poverty.
You have to count on yourself, not on what we have in OFE, says Waliszewski, emphasizing the role of education.
Until there is education and understanding of investment instruments for retirement, ignorance will block widespread interest in such instruments. There will be a belief resulting from ignorance that “they will take the money anyway.” In this direction, the Ministry of Finance is currently implementing a large project to develop educational materials for schools that explain these basic issues.
Individuals currently hold a trillion zlotys in bank accounts that do not generate returns. We must educate from an early age how to save and invest, he says Mariusz Jaszczyk from PFRwhile emphasizing that he is a supporter of the carrot rather than the stick method in encouraging people to save.
Masłowski from SII: I believe there are two situations when someone starts thinking about retirement. One case is when someone's back starts hurting. Then such a person begins to think that he is not immortal. Secondly, when they have an example, e.g. in their family, that someone is retiring and they need to be supported financially.
Tomasz Fronczak: The greatest incentive for retirement is the PIT relief for IKZE accounts. However, as many as 30% of eligible people forget to apply this relief.
Masłowski: We know from DM BOŚ data that investment results on IKE accounts are better than on IKZE accounts. This would mean that the tax relief is an incentive to use IKZE, and better educated people invest in IKZE.
In short: which of the accounts/solutions is best for our panelists personally?
Tomasz Fronczak corresponds to: PPK and IKZE
Krzysztof Waliszewski: I see a huge untapped potential of the PEPP, 7,000 people had it at the end of September
Michał Masłowski: I won't give a simple answer because I have everything and I'm looking for where to save more
Mariusz Jaszczyk: I am responding from PPK and hence my appeal, stay in it. But IKE and IKZE are also worth it.
