Pursuant to the Law on Employee Equity Plans (PPK), participation in the Plan is voluntary and subject to a mechanism of automatic resumption of contributions (auto enrollment). By default, every employee (a hired person) is considered a participant of the Plan and only a written opt-out declaration triggers the non-deduction of contributions from his or her salary. Such a declaration is valid for four years and the first four-year period ends on February 28, 2023.
Employers have to inform employees who opted-out of the Plan about their automatic re-enrollment, i.e. the automatic resumption of payments made for such persons, by February 28, 2023. The contributions on account of the Employee Equity Plan will be resumed on April 1, 2023. An employee who still does not wish to participate in the Plan should re-submit his or her opt-out declaration in March 2023.
It is worth noting that after the lapse of the four-year period, the mechanism for automatic resumption of the contributions will not apply to employees who turned 55 before April 1, 2023. Individuals aged 55 to 70 may participate in the Employee Equity Plan only if they submit a respective opt-in declaration to their employer, expressing their will to join the Plan. Such a declaration must be submitted by February 28, 2023 so that contributions can be remitted as early as March, but it can also be made at any time later.
In addition, an employer will not remit contributions for those who filed an opt-out declaration...
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