The amount of pensions will decrease. The Central Statistical Office released key data
This week, the Central Statistical Office published new tables of average life expectancy for women and men, which will be valid from April 1, 2025 to March 31, 2026.
The document has very specific consequences for millions of Poles – especially those planning to retire. We calculated it on specific amounts. We don't have good news.
Tablets overestimate men
The table below, based on statistical data, predicts how many months of life each Polish citizen has left on average after “30”. It is on this basis that ZUS calculates the amount of the pension when we reach retirement age and submit an appropriate application.
Table of average life expectancy for women and men
|
Central Statistical Office
It is updated every year and usually (except during the coronavirus pandemic) these numbers increase. This means we will live longer.
The data has one rather serious flaw. They do not distinguish further life expectancy by age. Other data from the Central Statistical Office show that in Poland At birth, a man has on average less than 75 years of life ahead of him, while a woman has more than 82 years of life ahead of her.
If both of them live to the age of 60, on average the woman still has almost 25 years ahead of her, and the man – less than 20 years.
This is the average lifespan of women and men in Poland
The thing is that ZUS does not distinguish situations depending on gender. The above tables are a kind of average, which may make men feel aggrieved because there is a good chance that they will live shorter than expected.
This is how ZUS calculates your pension
Let us return for a moment to the mechanism of calculating the monthly benefit. This one is actually quite simple.
We work and pay pension contributions all our lives. These are collected in the ZUS account and sub-account and indexed annually. In this way, over 20, 30 or sometimes 40 years of work, quite a considerable sum can be accumulated.
See also: How much do you have to earn for your pension to amount to PLN 5,000? Specific amounts
When we reach retirement age (60 for women and 65 for men) and want to retire, ZUS calculates it in a trivial way. The amount accumulated over a lifetime is divided by the number of months we can still live. It is taken from the above tables.
Example? The woman has collected PLN 800,000. PLN of capital in ZUS. He retires at the age of 60. According to the new tables, she has an average of 268.9 months to live. Her pension will therefore amount to approximately PLN 2,000. PLN 975 (800 thousand divided by 268.9).
The new tables mean lower pensions. If?
With each passing year, the thesis that Poles live and will live longer and longer is confirmed. Virtually every tablet extends life expectancy by several months.
In those days, which were still in force for a few days, the average 60-year-old had 266.4 months of life ahead of him. From April it will be 268.9, i.e. exactly 2.5 months more. And this is not good news from the point of view of his pension.
Let's move on. Before the pandemic, the same 60-year-old had 260.7 months ahead of him, and in 2021, i.e. at the peak of morbidity and mortality – 247.7 months.
Let's show it in amounts. The 60-year-old woman will be able to count on PLN 2,000 from April. PLN 975 pension. The same woman would have received PLN 3,000 in 2019. PLN 69, in 2021 – over PLN 3,000. PLN 229. The difference is up to PLN 250.
This is even more visible in the case of men. A 65-year-old with pension capital in ZUS of PLN 1 million before the pandemic could count on PLN 4,000. PLN 606 pension. In 2021, i.e. at the peak of the pandemic – 4,000. PLN 895, by the end of March this year – PLN 4,000. PLN 529, and from April – PLN 4,000. PLN 490 The differences amount to as much as PLN 300-400 per month.
Examples of calculations of potential future pensions for 60- and 65-year-olds are presented in the table below.
| 2019 | 2021 | 2025 | 2026 | |
|---|---|---|---|---|
|
65-year-old with 600 thousand zloty |
2763.70 |
2936.86 |
2717.39 |
2694.21 |
|
65-year-old with PLN 1 million |
4606.17 |
4894.76 |
4,528.99 |
4490.35 |
|
60-year-old with 600,000 zloty |
2301.50 |
2422.29 |
2252.25 |
2231.31 |
|
A 60-year-old with PLN 1 million |
3835.83 |
4037.14 |
3753.75 |
3718.85 |
It's worth working longer
The pension calculation mechanism therefore promotes retirement as late as possible. The longer we work, even after reaching retirement age, the older we are at the time of submitting the application to ZUS.
And if so, we have fewer months of pension left. And thanks to this, the benefit itself will be higher.
See also: You earn more than you think. This is the profitable ladder for Poles [KWOTY]
Let's stick to the example of a 65-year-old man with a capital of PLN 1 million. He will be able to count on 4,000 from April. PLN 490 pension. A man a year older would have 4,000. PLN 670. Two more years means a profit of almost PLN 400 and PLN 4,000. PLN 868 benefit.
However, it is worth remembering that if we finish work later, we are not doomed to one life expectancy table. ZUS chooses which is more favorable at a given moment – either the current table or the one in force at the time of retirement.
