Tax-exempt income

You are exempt from 19% capital gains tax (the tax exemption is possible after reaching the age of 60 or after acquiring pensioner’s rights and being 55 or over, as well as after having fulfilled the statutory requirement regarding payment deadlines and procedures). The capital gains tax exemption results from article 21 clause 1 point 58a of the Personal Income Tax Act of 26 July 1991 in conjunction with article 4 of the Act on Individual Pension Accounts and Individual Pension Security Accounts of 20 April 2004.

You don’t have to make the payments into the account regularly

You may suspend making deposits into your Individual Retirement Account at any time. The amounts paid into the Individual Retirement Account do not have to be always the same.

Low payments

The minimum amount of each payment is PLN 100 (the first payment should be a minimum of PLN 500). It is you who decide about the amounts and the frequency of your payments. According to applicable laws, the total of the payments in one year cannot be higher than three times a projected average salary. This amount is set up each year (in 2014 the limit was PLN 11,238).

Early withdrawal of funds

At any time you can withdraw the funds from the Individual Retirement Account in full or partially with no liquidation fee (the funds are subject to 19% capital gains tax).

One-time withdrawal or withdrawal in installments

Once you have retired you can decide how you want to withdraw the funds – you can do it as a one-time withdrawal or withdrawal in installment payments, e.g. every month as an additional payment to your pension.

Inheritance of the funds after the saving person’s death

It is possible to inherit the Individual Retirement Account funds. You can name the beneficiary who, in the event of your death, will receive the Individual Pension Account that will not be subject to the inheritance tax or the capital gains tax.

Low costs

No fees for purchasing the fund units, no fees upon the withdrawal of the funds (for details, please see the Banking Fees and Charges), no account maintenance fee. Only the first payment is subject to processing fee of PLN 400.00.

You can open your Individual Retirement Account even if you are 16 years old (the payments into the Individual Retirement Account made by the minor cannot be higher than their income earned under the employment contract).
Each person can have only one Individual Retirement Account.
There are no joint or spouse registers.
Individual Retirement Account can be credited with the funds from the Employee Pension Plan after you terminated your employment contract with the employer that offered such plan.
You may choose from both safe funds as well as those involving greater risk which may bring considerably greater profits over time and guarantee you even higher pension.
It is you who decide about the % share of the funds in your Individual Retirement Account (with precision to 5%).
Change in the percentage share is free of charge.
Structure of funds collected in your Individual Retirement Account does not have to be identical to the allocation of deposits into your Individual Retirement Account.

Important information

Investment products are available solely for holders of Citibank Personal Account. Investing in investment funds is not an obligation nor is it guaranteed by Bank Handlowy w Warszawie S.A. or by any of Citigroup subsidiaries or affiliates. The fund participation units are not a bank deposit. Investments in the funds participation units are not guaranteed by the State Treasury, the Bank Guarantee Fund nor by any other government institution. The investment products bear investment risk, including the possibility of losing invested capital. The past performance of investment funds, stock market indices and foreign exchange rates, which affect return on investment, is no guarantee of their future profits.

Before taking any investment decision, customer should read the information prospectus of the fund that includes information concerning profitability of the investment and the existing risks. Policy of order completion has been described in relevant statutes of the Funds. Informative fund prospectuses are available in Citi Handlowy branches and on

The Bank provides the investment advisory services regarding the investment funds (excluding the regular investment plans and individual pension account pursuant to the Act of April 20, 2004 on individual pension accounts and individual pension security accounts) solely to customers who have concluded an agreement with the Bank for such services.


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