On Tuesday at At 3:30 p.m. the first reading of the government bill on personal investment accounts (OKI). This is a new instrument addressed to individual investors, which – according to the government's announcement – is intended to increase the attractiveness of the capital market and encourage more people to actively invest.
As the originators argue, the OKI project is a response to the low level of individual investments in Poland and the domination of bank deposits and savings accounts in the structure of private savings.
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Encouragement for long-term investing
As we described in an extended analysis in Business Insider Polska, personal investment accounts are intended to complement the existing system of savings incentives, in addition to the already existing IKE and IKZE. The government assumes that the new solution will be simpler in design and more accessible, which will translate into greater interest in investing on the capital market.
“It will be possible to have several OICs, e.g. in a brokerage house or investment fund, but only from the beginning of 2028 (until then it will be possible to set up only one OKI). The limit will not change and will still amount to a total of PLN 100,000 (regardless of the number of accounts). For now, there is no plan to introduce an upper limit on assets accumulated in OKI,” we wrote in our pages.
The aim of the project is not only to improve the situation of individual investors, but also to increase the share of domestic capital in financing the economy.
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The most important assumptions of OKI
Crucially, OICs are intended to enable investing without capital gains tax. Belka's tax exemption is to apply after the conditions specified in the Act are met.
The funds collected in OKI will be able to be invested on the capital market, among others. in shares, bonds and other financial instruments. The account is intended primarily for long-term capital building, not short-term speculation.
“OKI is to be a personal and voluntary solution, intended for natural persons, with the possibility of depositing and withdrawing money at any time without losing tax benefits. People who are over 18 years of age will be able to set up OIC,” we wrote in our pages.
According to the government's announcement OICs are intended to increase Poles' willingness to invest and at the same time support the development of the domestic capital market through the inflow of private savings.
Today's first reading begins parliamentary work on the project. In the next stages, MPs will decide on detailed solutions and the final shape of the act.
