Are we going to increase pensions?


Pensions in Poland are at a low level. Therefore, retirees are waiting for any information about the change in their amount. Will pensions increase in the near future?

Valorization of funds on the accounts of the insured

As every year, on June 1, the Social Insurance Institution (ZUS) began valorization of funds accumulated on the accounts and sub-accounts of the insured, including the valorization of the initial capital. Thanks to this, the funds then increase by a certain percentage. On the other hand, the amount of account indexation depends on inflation, wage growth and the number of the insured from the previous year. The indexation of the sub-account is a derivative of the dynamics of GDP growth in the last 5 years. "In June, the balances of the insured's accounts increased by 5.41 percent, and the balances of sub-accounts - by 5.23 percent." - says prof. Gertruda Uścińska, president of the Social Insurance Institution.

This means that the person who had raised 300,000 at the end of January this year PLN, in June, about 16 thousand. PLN (300 thousand × 5.41%). When someone has accumulated 500,000 PLN in the form of contributions and initial capital, the account balance of this person increased by approx. 26 thousand. PLN (500 thousand × 5.23%). After the annual indexation, the next step is to prepare information about the insured person's account balance (IOSK) as at December 31, 2020. It will be available in electronic form on the PUE ZUS profile, probably until the end of the summer holidays. According to the Social Insurance Institution's announcement, people who are 35 years of age and older will also receive a pension forecast.

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Pension increases in 2022

According to, the government's plans show that the indexation of pensions in 2022 will be at the level of 4% (price increase plus 20% wage growth rate). Currently, we can only use forecasts, but as a rule, the final indexation of pensions is similar to what the analysts forecast. We will not know the actual value of the indexation until the turn of January and February.

If the 4% valorization scenario were true, pensions would increase as follows:

  • old-age pension PLN 1,500 - an increase by PLN 60,
  • old-age pension PLN 2,000 - an increase by PLN 80,
  • old-age pension PLN 2,500 - an increase by PLN 100,
  • old-age pension PLN 3,000 - an increase by PLN 120,
  • old-age pension PLN 4,000 - an increase by PLN 160.

The valorization of funds on the accounts of the insured takes place once a year and thanks to this, the funds accumulated are increased by a fixed percentage. On the other hand, the indexation of old age and disability pensions will have a faster impact on the increase in pensions and will make pensioners get more money next year.