How much money we have collected in OFE and how much will they really pay us?
In fact, we will not get 75%, but only 36%. Is it possible?
The new pension reform is to consist i.a. on the fact that 75% of the money accumulated in OFE will become our property. However, they will not go directly to our bank accounts. OFE will turn into IKZE, where we will be able to keep our money or withdraw it. The remaining 25% is to go to the Demographic Reserve Fund. However, there is a chance that this will not have a negative impact on the amount of our pensions. There are announcements that these amounts will increase our sub-account at ZUS. It is true that these are only virtual funds, but the balance of this account in the future will depend on the amount of the benefit that will be paid to us by ZUS.
Importantly, payments from OFE will be given even to those who decided to give it up in 2014. The decision we made at that time concerned whether the new contributions should continue to be transferred to OFE and ZUS, or only to ZUS. People who chose only ZUS still have money in OFE that was paid before 2014.
The average salary that Poles will receive from OFE will be PLN 8,016. On average, we have a little over PLN 10,000 there, but we will get 75% of this amount. Based on the data of the Polish Financial Supervision Authority, we also calculated the average for the clients of individual pension funds. The customers of Aviva OFE and Nationale-Nederlanden OFE will receive the most, over PLN 10,000. The least users of OFE Pocztylion - PLN 4,143. How much we actually get, however, does not only depend on which OFE we are the client of. The most important thing is how long we paid pension contributions and what were our earnings.
How to check exactly how much you will get?
To check exactly what amount we will get, it is best to log into your OFE account or call its hotline. There we can find out what the account balance is. Then multiply them by 0.75, because we will get only 75% of the collected funds.
However, the payout amount calculated in this way may still change. Firstly, OFEs are still investing until July 2018, there may still be some profits or losses from these investments. In addition, some Poles decided that they still pay contributions to OFE. For such persons, the payout amount will increase by those contributions which will be paid until payout. So it's best to check your balance not only now, but again just before payday. It is most convenient to do this via the Internet. On the OFE websites, you can usually log into your account. If we do not have a login and password yet, we will usually receive them by contacting the hotline of our OFE.
Finally, it is worth recalling that the earlier OFE reform resulted in taking 51.5% of the money collected there from us. We are now going to lose 25% of these remaining funds. So in fact, we will not get 75%, but only 36.4%.
In simplified terms, it can be said that out of every PLN 10,000 we will get only PLN 3,638. The rest has already been transferred to ZUS accounts or will soon be transferred to the Demographic Reserve Fund.
Source: Expander
