12.02.2021 Labour law

PPK 2021 – deadlines for micro companies

The deadline for conclusion of contracts concerning Employee Capital Plans by entities employing fewer than 20 individuals is approaching.

What obligations must employers covered by Phase IV of the programme meet?

The employer is obliged to conclude the Employee Capital Plan management contract by 23 April 2021 at the latest and the Employee Capital Plan maintenance contract not later than by 10 May 2021.

The employer is obliged to conclude a contract for the management and operation of the Employee Capital Plans with a selected financial institution, not only on behalf of employees but also persons with whom he has concluded a civil law contract (e.g., contract of mandate) from which the employer is obliged to pay contributions for pension and disability insurance.

PPK – selection of the financial institution

It is important that before contract conclusion one needs to choose the financial institution which will collect and invest funds within the scope of the Employee Capital Plan.

The choice is made by the employer in agreement with the company trade union organisation or employee representatives elected in the course of the procedure adopted by the company. In many companies which have not introduced the procedure for electing employee representatives so far, it will be necessary to develop and implement the relevant procedure to be applied by the employer also in the future for purposes not related to Employee Capital Plans. The employer and the employee representatives should reach an agreement not later than one month before the date of conclusion of the Employee Capital Plan management contract, i.e., 23 March 2021. If no agreement is reached by 23 March 2021, the employer selects the financial institution on their own.

Obligations following the implementation of the PPK

This is not the only obligation imposed on the employer – after establishment of the Employee Capital Plan the employing entity is obliged to timely and correctly calculate, collect and transfer payments to the selected financial institution, as well as collect and archive documents concerning Employee Capital Plans.

Entities failing to comply with the provisions included in the Act on Employee Capital Plans will be subject to financial sanctions whose amount is specified in the act as even up to PLN 1,000,000.


Magdalena Wilkoszewska
Director of the Labour Law Department, Attorney-at-law
TGC Corporate Lawyers

How can we help?

TGC offers the following services to companies implementing Employee Capital Plans (PPK):

1. Support in the election of employee representatives, including drafting all necessary documents such as:

  • internal regulations on the election of employee representatives
  • communications for staff
  • ballot papers
  • communications on the choice of financial institution
  • support in holding the elections for employee representatives

2. Conducting staff training – presenting essential information on the functioning of PPK and related employee and employer obligations.

3. Legal support in the choice of financial institution managing the PPK:  

  • presenting offers of the selected financial institutions which manage PPK;
  • legal review of draft agreements with financial institutions managing the PPK i.e., PPK management agreement and PPK operation agreement and presenting the findings on the terms of agreements which may affect your legal situation.

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