General pension societies - Komisja Nadzoru Finansowego
Under applicable provisions of law, general pension societies (PL: powszechne towarzystwo emerytalne – PTE) have the statutory obligation to make a payment to cover the costs of supervision over the pension market.
The amount of, the method of calculating and the time limits for making the payment are set out in the Regulation on payments to cover the costs of supervision of the activities of pension funds and occupational pension schemes (available in the Polish language).
The payment due from a PTE to cover the costs of supervision over the pension market must be made in two portions.
By 15 November of each year, the Chair of Komisja Nadzoru Finansowego announces to the public, by way of Communication published in the Official Journal of Komisja Nadzoru Finansowego, the rate applicable to the calculation of the first portion of the payment and the amount of the planned supervision costs in the current calendar year.
When making the first portion of the payment, a supervised entity is required to submit a statement by a general pension society on the amount of the first portion of payment to cover the costs of pension supervision (the information to be included in the statement is specified in Annex No 1 to the Regulation).
Time limit for making the first portion of the payment: by 15 December of the current year
Time limit for submitting the statement on the amount of the first portion of the payment: within 7 days of the last day of the time limit for making the payment
The amount of the first portion of the payment must be calculated as the product of the average value of assets of an open pension fund managed by a given PTE, for the first ten months of the current calendar year, calculated on the basis of the value of assets of the open pension fund, determined on the last working day of each of the ten months of the current calendar year, and of the S10M rate published in the Communication.
By 15 February of the next year, the Chair of Komisja Nadzoru Finansowego announces to the public, by way of Communication published in the Official Journal of Komisja Nadzoru Finansowego, the rate applicable to the calculation of the payment (including the second portion of the payment) and the amount of the supervision costs to be paid in the current calendar year.
When making the second portion of the payment, a supervised entity is required to submit a statement by a general pension society on the amount of the second portion of the payment to cover the costs of pension supervision (the information to be included in the statement is specified in Annex No 2 to the Regulation).
Time limit for making the second portion of the payment: by 15 March of the current year
Time limit for submitting the statement on the amount of the second portion of the payment: within 10 days of the last day of the time limit for making the payment
The amount of the second portion of the payment must be calculated as the difference between the product of the average value of assets of an open pension fund managed by a given PTE for the current calendar year and the S12M rate published in the Communication, and the amount of the first portion of the payment due.
The statement must be submitted in the form of electronic document through the e-Deklaracje system available at: https://e-deklaracje.knf.gov.pl/
All information on the e-Deklaracje system can be found on the website of Komisja Nadzoru Finansowego at: https://www.knf.gov.pl/dla_rynku/eDeklaracje.
The payments and fees to cover the supervision costs are of a public-law nature, and hence Urząd Komisji Nadzoru Finansowego (UKNF) does not issue VAT invoices or bills for such payments or fees.
The payments to cover the supervision costs must be made to individual accounts generated by the UKNF for each entity.
Should you have any further questions please contact us by phone: (22) 262 58 00 or by e-mail: oplaty@knf.gov.pl.
Legal basis (available in the Polish language):