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POL-2004-L-69014
Breadcrumb
Title_of_text
Act of 20 April 2004 on individual retirement accounts (Text No. 1205).
Main Region
First Region
Country(ies)
Poland
Subjects (Classification)
Old-age, invalidity and survivors benefit
Adopted on (Date of text)
2004-04-20
Scope of text
National
Type of legislation (Type of text)
Law, Act
Second Region
Abstract/Citation
Allows all individuals to open an individual pension account (IKE) so long as they are employed. Individuals will be able to open these accounts in either banks, broking houses, investment funds or social security offices. Each person will be entitled to only one account and may pay up to 150% of average national monthly salary into the account each year.
Also allows the transfer of ressources from the IKE into employee pension schemes and vice versa. Individuals may make withdrawals from IKE's without paying any tax on the savings if they are over the age of 60, or if they are at least 55 and have taken early retirement. Savings must have been held in the account for at least five years before they are withdrawn, although this period is shorter in the case of older people.
Entry dates region
Date of entry into force
2004-09-01
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Amending Text region
Amending text(s)
2018-10-04 (POL-2018-L-109032)
Act of 4th October 2018 on employee capital plans (Dz. U. no 2215)
Electronic region
Electronic source title
English translation
Author
Ministry of Labour and Social Policy
Country
Poland
URL
http://www.mpips.gov.pl/_download.php?f=userfiles%2FFile%2FEnglish%2Fsocial+insurance%2FIndividual+Retirement+Accounts.doc
File
POL69014.pdf (PDF)
Serial region
Serial title
Dziennik Ustaw
Date
2004-05-24
Number
No. 116
Page range
pp. 8167-8178