The Government Legislative Center received the Personal Investment Account Act. In the form proposed by the Ministry of Finance, OKI was designed following the example of the Swedish Investeringssparkonto (ISK) program. Under OIC, the investor will have the opportunity to freely build an investment portfolio, while excluding speculative instruments.
The introduction of OIC is associated with the exemption for capital gains of instrument users, but also with the establishment of a new tax – Tax on the value of assets. The most important aspects of taxation are:
- Income (revenues) obtained from collecting assets on OKI will not be subject to personal income tax (PIT), including the so-called “Belka” tax.
- Tax Base: The base is the sum of the value of assets accumulated in all OKI owned by the taxpayer in a given tax year. This value is calculated as a daily weighted average: (Sum of daily asset valuations + Sum of daily deposits) / Number of days of having the account.
- The Tax Rate is 19% of the NBP reference rate in force on October 31 of the year preceding the tax year, but not less than 0.1%. (For the period from July 1 to December 31, 2026, the rate is 0.85%).
- Tax Exemptions: Limits have been introduced for tax exemptions on the value of assets:
- Savings assets (funds in bank accounts, Treasury savings securities, retail collective investment products with a risk index of 1), denominated in PLN: exemption up to PLN 25,000.
- Investment assets (including securities, units of funds meeting the requirement of 70% of investments in organized trading in PLN): exemption up to PLN 100,000.
- The total limit of tax exemption on the value of assets may not exceed PLN 100,000 in a tax year.
- Tax Settlement: Taxpayers are obliged to submit a tax return and pay the tax due only in electronic form, via an account at the e-Tax Office, between March 15 and May 31 of the year following the tax year.
- State Budget Income: The tax on the value of assets constitutes the entire income of the state budget and does not involve local government units.
Investment Instrument in the OKI arms:
Table of Contents
Under OIC, the investor will have the opportunity to freely build an investment portfolio, while excluding speculative instruments. The assets accumulated on OKI are:
- Cash in bank accounts or cash accounts with an entity conducting brokerage activities.
- Bonds that are treasury savings securities.
- Securities (other than savings bonds) traded on a regulated market or in an alternative trading system.
- Financial instruments other than securities traded on a regulated market or in an alternative trading system.
- Participation units of an insurance capital fund.
- Investment fund participation units.
- Settlement units of the voluntary pension fund.
Currency requirements: The investor may purchase assets denominated in the national currency (PLN) or in foreign currencies of European Union member states, parties to the Agreement on the European Economic Area or members of the Organization for Economic Co-operation and Development (OECD).
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State Treasury bonds on OKI
Bonds, which are Treasury savings securities, are one of the assets that can be collected at OKI. Treasury savings securities (State Treasury savings bonds) are classified as savings assets. In the case of these assets, tax exemption on the value of assets is available up to PLN 25,000 per year. These bonds are valued by determining the sum of their nominal value, increased by the value of the capital increase resulting from indexation or capitalization calculated on the valuation date.
OKI will be able to be operated by the following financial institutions, provided that statutory requirements are met:
- Domestic banks.
- Entities conducting brokerage activities (brokerage houses or domestic banks conducting brokerage activities).
- Investment funds (open or specialized open investment funds).
- Insurance companies.
- Voluntary pension funds.
It will be possible to deposit and withdraw funds at any time (liquidity). There will be no restrictions on the type of investment in the portfolio. The investor cannot be charged with costs related to deposits, withdrawals, transfer payments, maintaining the OIC, inactivity on the OKI and concluding the contract, other than administrative costs resulting from the contract for operating the OIC. The operation of the OIC is supervised by the Polish Financial Supervision Authority (KNF).
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Effects of the Act, especially on the state budget
The project envisages that the introduction of the OIC will have a significant impact on the public finance sector, leading to a decline in total revenues. According to the calculations of the authors of the act, within 10 years of its validity, its effects will reduce revenues to the State Budget by PLN 8.3 billion. It should be noted, however, that in the first years of the Act’s validity, a one-off positive fiscal effect is foreseen (in the settlements for 2026 and 2027).
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