According to the estimates, the future amount of a Polish pension will not exceed one half of the current average salary amount, and that is the best-case scenario. Therefore, we should consider allocating part of our budget or savings to our future pensions right now, as it is the only way to ensure that our financial needs will be sufficiently satisfied.
Results of the last report prepared by TNS OBOP for the Chamber of Fund and Asset Management of January 2015 have shown that as much as 95% of Poles who reached working age do not save for their future pensions, while only 4% declare that they intend to do that. According to the report, the main reasons for failure to save for future pensions include lack of sufficient funds and knowledge about the pension system and possibility to save money under the so-called 3rd pillar (individual pension schemes). However, due to the structure of the Polish pension system, 3rd pillar savings have become a necessity.
Nevertheless, with the current level of interest rates, depositing funds on a bank account does not suffice. We should seek solutions offering capital increase in time with the sufficiently high rate of return in the longer term. Millennium TFI offers such savings products based on investment funds, part of which provides additional tax benefits, such as exemption from capital gains tax or inheritance tax.
The easiest solution is to launch a savings and investment scheme based on Millennium funds. Under such schemes, only the monthly payment amount (from PLN 100 per month) and the savings period must be declared in advance.
Alternatively, Clients having savings on bank accounts or deposits may make one-off, ad hoc payments to a selected scheme and take advantage of the investment or tax benefits it offers. The funds provided by the Client are systematically invested in selected funds from our vast spectrum of investment funds. Client may access their savings at any time.