PPK, i.e. Employee Capital Plans, is a voluntary, long-term and private saving program implemented by the employer. In addition to it, it is also financed by the state and the employee. How to withdraw money from it?
Are you interested in benefits? You can read more similar articles on the home page
When and how to withdraw money from PPK? If you do it too early, you have to reckon with deductions
You can use the savings you have accumulated under the PPK at any time, regardless of whether you want to make a refund or due to a difficult life situation. The refund consists in withdrawing the collected money before the age of 60 and without giving a reasonhowever, it involves some deductions, more precisely:
- you will not receive payments from the state (welcome and annual payments),
- 30 percent funds from the employer’s payments will be transferred to ZUS,
- when the money saved has generated a profit, you will pay 19% of the amount of capital income beam tax.
However, it should be remembered that the return is not tantamount to resignation from the PPK, just as the resignation itself does not mean withdrawal of money. The funds you have accumulated will still be in your account. In turn, the payment in special situations is:
- payout up to 25 percent collected funds at once or in installments in the event of a serious illness of the participant, his child or wife,
- payout up to 100 percent funds for housing purposes.
Read more about it.
Payment from PPK after the age of 60. Why should you hold off?
As a rule, Employee Capital Plans are used to ensure that you can enjoy additional funds after retirement. For this reason, it’s best to wait until you’re 60 before paying outand when it does:
- make a one-time payment of 25% accumulated funds,
- another 75 percent download in 120 monthly installments.
Doing so will make them all go to you without any reductions. Otherwise, you will have to pay capital gains tax on them.
How to withdraw money from PPK? You will do it in a few minutes
Since the money accumulated under the PPK is the property of the employee, you can withdraw them at any time and many times. For this purpose, all you have to do is log in to the institution that manages it and submit a transfer order along with the account number to which the money is to be transferred.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
