Will 2027 take away the profit from IKZE? New 24% rate hits the tax relief

The introduction of a 24% tax rate in 2027 will mean that for the same contribution to an IKZE, you will recover over 900 PLN less than before, which drastically reduces the profitability of this form of saving. This change results directly from a government draft that establishes a new tax threshold for income exceeding 150,000 PLN. For the taxpayer, this means the necessity of revising a financial strategy that until now relied on the stable benefit resulting from deductions from the tax base.

Tax revolution 2027: New thresholds and a 24% rate

The government's draft of tax changes, presented in August 2026, shifts the boundaries of personal income taxation. A key element of these regulations is the establishment of a second tax threshold at 130,000 PLN and the introduction of a third tier – a 24% rate – for income above 150,000 PLN. For a person saving on an Individual Retirement Security Account (IKZE) whose income falls within this range, the return math changes completely.

The mechanism of the IKZE relief consists of deducting the contributed amount from pre-tax income. In practice, this means that the amount of profit is directly linked to the value of the tax that we do not have to pay to the tax office. Let's assume that a taxpayer contributes the annual limit to an IKZE, which in 2026 was 10,000 PLN. In the old system, by deducting this amount from the tax base in the 12% bracket, they obtained a refund of 1,200 PLN. In the new model, with the application of the 24% rate to higher incomes, the tax authorities are changing the way benefits are calculated. Since the proposed regulations assume a higher burden while simultaneously lacking indexation of the thresholds, a situation arises where the real profit from the relief melts away.

The final calculation for the investor looks as follows: in the annual settlement, with the same contribution of 10,000 PLN, the tax refund will be lower by over 900 PLN compared to current rates, taking into account the differences in tax progression. This is not just a technical shift in the Ministry of Finance's tables. It is a real depletion of the capital that was supposed to work for retirement. The tax office is taking over a portion of the funds that until now served as an incentive for voluntary saving.

Mechanism of benefit loss: Why is IKZE ceasing to be attractive?

The profitability of IKZE has always been based on the difference between the tax rate at the time of contribution and the rate at the time of withdrawal after reaching the age of 65. Increasing fiscal burdens in the tax threshold drastically changes this calculation. If an investor contributed money, counting on deducting it from the tax base in a higher bracket, and now the state raises the rate to 24%, the tax benefit becomes illusory.

Analysis of data from August 2026 shows that the government is not only introducing a new rate but also maintaining the freezing of tax thresholds. This phenomenon is described as "creeping PIT hikes." In a situation where the nominal incomes of Poles are rising and tax thresholds remain unchanged, an increasingly larger group of people enters higher brackets. As a result, even if our earnings have not increased in real terms, the state considers us wealthier and imposes a higher tax. Savers on IKZE thus fall into a trap: on one hand, the marketing promoting the product promises a tax profit, while on the other, the 2027 tax structure takes that money away as part of equalizing differences in rates.

It is worth noting that IKZE is becoming a tool that requires very precise planning under the new conditions. If a taxpayer does not exceed the 150,000 PLN threshold, the situation is more stable. However, if they do exceed it – and in an era of inflation and nominal wage increases, this is increasingly easy – every zloty contributed to the retirement account is calculated according to new, less favorable rules. The government's plan for changes, announced on August 19, 2026, clearly points to the direction: sealing the tax system at the expense of existing retirement privileges.

IKZE, IKE, or OKI – analysis of alternatives in 2027

In the face of new regulations, investors are forced to re-evaluate their portfolios. The financial market offers three main instruments, each governed by different tax laws. IKZE, IKE, and OKI are not identical products, although they are often perceived as such in the context of long-term saving.

The Individual Retirement Security Account (IKZE) is losing its status as a tax "sure thing." At a 24% rate, the real return from the relief decreases, which makes it less effective for people in higher income brackets than it was years ago. The Individual Retirement Account (IKE) remains in a different situation – here, the key is the lack of taxation on capital gains upon withdrawal after the age of 60. Although IKE does not offer a deduction of contributions from income tax, it protects the earned profit from the "Belka tax," which over a long time horizon may prove more beneficial than the one-time, shrinking refund from IKZE.

The Personal Investment Account (OKI) is gaining importance as an alternative. The structure of OKI, often based on solutions allowing for investment while bypassing capital gains tax, seems more resistant to changes in progressive PIT than IKZE. However, it is worth remembering the catches: management costs, account maintenance fees, and brokerage commissions can negate the tax profit. Before choosing an OKI, one should carefully analyze the fee tables, because with smaller contribution amounts, the costs may outweigh the benefits of the lack of capital gains tax.

The decision on choosing an instrument in 2027 requires cool calculation. The government project foresees tax changes until 2028, which means that the current rules are not final. Each year may bring adjustments to the thresholds, which makes retirement strategy need to be flexible. People planning their financial future should monitor not only contribution limits but, above all, changes in PIT rates, which directly affect the efficiency of IKZE.

Sebastian Mlak on the government's proposal: Summary of risks

Sebastian Mlak, analyzing the proposal of Donald Tusk's government in the context of changes to PIT, points to the problem of a lack of predictability. The expert emphasizes that the proposal for changes is not just a technical adjustment of rates to changing economic conditions, but a change in the philosophy of taxing savings. The introduction of a 24% rate while simultaneously failing to index tax thresholds means that the tax burden is shifting toward the middle class.

The key risk that Mlak points out concerns the math of the return. The IKZE mechanism, which until now was promoted as the main way to lower income tax, becomes less efficient under the new conditions. If a taxpayer in 2027 recovers 900 PLN less than currently for the same contribution, the real benefit from the relief ceases to cover the opportunity costs. Investors may start looking for products that do not tie them to such a volatile tax environment.

Mlak also warns against the temptation to treat IKZE as the only retirement pillar. The government's draft of changes, which also includes a lump sum and an increase in CIT to 22% for the largest companies, creates an environment where every zloty of tax is worth its weight in gold. The lack of indexation of tax thresholds is, in practice, a hidden tax hike, which, given high inflation, further burdens household budgets. In this context, freezing funds in an IKZE for over a dozen years becomes a decision burdened with high regulatory risk.

Hidden PIT hike: Lack of indexation of tax thresholds

The fundamental problem of the tax system from 2027 is not the 24% rate itself, but the mechanism of freezing the thresholds. In theory, thresholds should be corrected by the inflation rate or wage growth so that taxpayers do not fall into higher rates just because their nominal incomes are rising. In practice, Donald Tusk's government is continuing a plan in which thresholds remain unchanged, which automatically increases budget revenues.

For those saving on an IKZE, this means that their "relief" is becoming increasingly expensive. If we contribute money to deduct it from taxes, and at the same time our incomes cause us to fall into higher brackets, the profit from the IKZE is "eaten" by the higher tax rate on the remaining part of the income. This phenomenon makes the benefit from the relief only an apparent profit. The state, on one hand, encourages saving, and on the other – through the tax system – takes back what it previously promised as part of the incentives.

This situation forces citizens to change their approach to tax optimization. Instead of counting on simple deductions, one must analyze the overall tax burden. The lack of indexation of thresholds means that in 2028 the situation will be even more difficult. Anyone planning long-term saving within the third pillar must take into account a scenario in which the state will gradually limit the real benefits from tax reliefs.

Investment strategies in 2027 – how to protect capital?

Protecting capital in 2027 requires stepping outside the framework of standard retirement products. Since IKZE is losing its attractiveness, investors should focus on instruments that offer greater tax transparency. It is necessary to carefully calculate whether, at current PIT rates, a contribution to an IKZE still makes sense compared to investing funds on the stock market, in ETFs, or on savings accounts, where tax is paid only at the moment of generating a profit.

When choosing a strategy, it is worth paying attention to three aspects:
1. Liquidity of funds. IKZE ties up capital until the age of 65. In the face of tax changes, flexibility may prove more important than tax relief.
2. Operational costs. Products such as OKI or brokerage accounts have different fee structures. Sometimes a higher tax in an IKZE is a smaller cost than a high commission in another product.
3. Legal stability. Since the government changes the rules of the game every year, it is worth betting on assets that are not dependent on specific tax reliefs, but on real value growth.

Trust in retirement products with tax relief should be limited. Every investor must conduct their own simulation, taking into account their real income and the projected PIT rate. If, after deducting account maintenance costs and taking into account the new 24% rate, the profit from the IKZE is negligible, it is worth considering diversifying funds into other financial instruments.

What does this mean for you?

For the average saver, this means that the state will take a larger part of the potential profit from the tax relief through a higher PIT rate, which makes IKZE a less attractive tool than before. Every contribution must now be evaluated through the prism of real return, not the promise of a tax benefit. In a situation where tax thresholds are not indexed, saving becomes a challenge in which you must race against the tax office to keep at least part of the earned capital. Do not count on an automatic profit – count on your own calculations.

Questions and answers

Will IKZE still be profitable in 2027?

Profitability will fall because the new 24% rate will lower the real tax benefit from account contributions by over 900 PLN compared to current standards.

Exactly how much will the profit from IKZE fall?

Calculations show that for the same contribution, you will recover over 900 PLN less compared to current rates, taking into account tax progression.

How does OKI differ from IKZE in the context of new taxes?

OKI allows you to invest without the Belka tax on capital gains, while IKZE relies on a PIT relief, which at a 24% rate becomes less favorable for people in higher income brackets.

Does the lack of threshold indexation have an impact on IKZE?

Yes, the lack of indexation of tax thresholds until 2028 causes more and more people to fall into higher tax rates, which makes deductions from the tax base within the IKZE less effective.

Is it worth closing an IKZE in 2027?

The decision to close an account should be preceded by a careful calculation of costs, including any potential lump-sum tax upon withdrawal of funds before reaching retirement age. There is no single universal answer; everything depends on the individual tax situation of the investor.

Sources

Article prepared by the Wiadomości PRO editorial team with the support of artificial intelligence. Facts come from the sources provided above.