OKI, the personal investment account: rules, tax and who has announced it
From 1 January 2027, banks, brokerages, funds and insurers in Poland can run personal investment accounts (OKI). There is no Belka tax on gains in an OKI: instead you pay a yearly tax on the assets' average value above an exemption. We take the rules straight from the act, with a source next to every figure.
- Start
- 1 January 2027
- Tax in 2027, per year
- 0.85%
- Exemption in all up to
- 100,000 zł
The return is your assumption, not a forecast. We count taxes only: nobody has published an OKI price list yet.
Left on the OKI after 20 years
375,970 zł
After the asset value tax, 23,222 zł in all. We take it off the account every year, because tax paid stops compounding, even if you pay it from your own pocket.
Left on a regular account
375,641 zł
After the 19% Belka tax on the gain when you sell at the end: 31,817 zł.
With these assumptions you are left with 329 zł more on the OKI than on a regular account.
The OKI comes out ahead when the average return is above 5.0% a year. The longer the plan, the higher that threshold: Belka is paid only when you sell, the value tax every year, in a weak year too.
For years the act gives no rate for, we assume 0.71%: 19% of NBP's current reference rate (3.75%). The real rate depends on the reference rate at the end of October of the year before.
The return above which OKI comes out ahead, for your payments
The same payments over plans of different length. The longer you hold, the higher the threshold, since Belka is paid only when you sell.
| How long | a world ETF (no exemption) | exempt Polish shares |
|---|---|---|
| 5 years | above 4.1% | always |
| 10 years | above 4.3% | above 0.2% |
| 15 years | above 4.6% | above 0.9% |
| 20 years | above 5.0% | above 1.6% |
| 30 years | above 6.4% | above 2.9% |
Year by year
| Year | Average value | Exempt | Rate | Tax |
|---|---|---|---|---|
| 2027 | 6,625 zł | 0 zł | 0.85% | 56 zł |
| 2028 | 19,221 zł | 0 zł | 0.71%* | 136 zł |
| 2029 | 32,364 zł | 0 zł | 0.71%* | 230 zł |
| 2030 | 46,069 zł | 0 zł | 0.71%* | 327 zł |
| 2031 | 60,359 zł | 0 zł | 0.71%* | 429 zł |
| 2032 | 75,260 zł | 0 zł | 0.71%* | 534 zł |
| 2033 | 90,797 zł | 0 zł | 0.71%* | 645 zł |
| 2034 | 106,997 zł | 0 zł | 0.71%* | 760 zł |
| 2035 | 123,890 zł | 0 zł | 0.71%* | 880 zł |
| 2036 | 141,503 zł | 0 zł | 0.71%* | 1,005 zł |
| 2037 | 159,869 zł | 0 zł | 0.71%* | 1,135 zł |
| 2038 | 179,020 zł | 0 zł | 0.71%* | 1,271 zł |
| 2039 | 198,988 zł | 0 zł | 0.71%* | 1,413 zł |
| 2040 | 219,809 zł | 0 zł | 0.71%* | 1,561 zł |
| 2041 | 241,520 zł | 0 zł | 0.71%* | 1,715 zł |
| 2042 | 264,158 zł | 0 zł | 0.71%* | 1,876 zł |
| 2043 | 287,762 zł | 0 zł | 0.71%* | 2,043 zł |
| 2044 | 312,375 zł | 0 zł | 0.71%* | 2,218 zł |
| 2045 | 338,039 zł | 0 zł | 0.71%* | 2,400 zł |
| 2046 | 364,799 zł | 0 zł | 0.71%* | 2,590 zł |
* rate assumed from NBP's current reference rate
How we calculate
- A year's average value is the average of the values at the end of each month. The act averages daily valuations.
- We deduct the exemption from the average, apply the rate from the act and take the tax off the account at the end of the year.
- On a regular account we apply the Belka tax to the gain when everything is sold at the end of the plan.
- We leave out broker fees, because there are no OKI price lists yet, and inflation. We don't compare with IKE, where a payout that meets the conditions is tax-free.
- The act comes into force
- 1 January 2027
- Minimum age (years)
- 18
- Gains outside the PIT act (no Belka)
- Yes
- Asset value tax rate in 2027
- 0.85%
- Later the rate is this share of NBP's reference rate
- 19%
- Rate at least
- 0.1%
- NBP's current reference rate
- 3.75%
- Exemption for złoty cash and savings bonds
- 25,000.00 zł
- Exemption in all, with Polish shares and złoty bonds
- 100,000.00 zł
- A fund is exempt when it holds at least this share of qualifying assets
- 70%
Who has announced an OKI
Institutions from our catalogue whose announcement a source confirms: a report, a notice or the institution's own website.
- AnnouncedNo start date given
Source
spolecznosc.ing.pl · checked 30 September 2026Nasze biuro maklerskie planuje udostępnić konta maklerskie w formie OKI od początku 2027 roku.
- AnnouncedStart: 2 January 2027
Source
noblesecurities.pl · checked 30 September 2026Kiedy OKI wejdzie do oferty Noble Securities? Noble Securities dostosowuje swoje systemy i przygotowuje ofertę OKI tak, aby uruchomić usługę w dniu 2 stycznia 2027 r.
- AnnouncedNo start date given
Source
ir.xtb.com · checked 28 September 20264.6 Plan produktowy … W 2026 roku Spółka rozszerza swoje portfolio o kolejne produkty oraz funkcje: … Osobiste Konto Inwestycyjne (OKI) to nowy produkt inwestycyjny, którego celem jest pobudzenie rynku kapitałowego i zachęcenie Polaków do długoterminowego oszczędzania.
Other institutions from our catalogue with no announcement a source confirms: 22.
Frequently asked questions
When can I open an OKI?
The act comes into force on 1 January 2027. Anyone aged 18 or over can open an OKI, and you can have more than one.
What tax do you pay on an OKI?
There is no Belka tax on gains in an OKI. Every year you pay a tax on the assets' average value above the exemption, in a loss-making year too. In 2027 the rate is 0.85%; later it is 19% of NBP's reference rate at the end of October of the year before, and at least 0.1%. You settle the tax yourself in the return for each year.
How large is the OKI tax exemption?
Up to 25,000 zł of the average value of złoty cash, savings bonds, treasury bills and the lowest-risk funds. Together with Polish shares, złoty bonds and funds holding at least 70% in qualifying assets, the exemption is up to 100,000 zł in all. The amounts cover all your OKI accounts together.
Is an ETF on shares from all over the world exempt on an OKI?
A fund counts towards the exemption only when its investment policy keeps at least 70% in qualifying assets, such as shares of companies with złoty share capital and złoty bonds. An ETF on shares from all over the world doesn't: you can hold it in an OKI, but the tax applies to its whole average value.
When does an OKI pay off better than a regular account?
Paying in 1,000 zł a month for 20 years into assets with no exemption, the OKI leaves more when the average return is above 5.0% a year, at a 0.71% rate for the years the act gives none for. The longer the plan, the higher that threshold, since Belka is paid only when you sell and the value tax every year. With exempt assets the OKI wins much sooner. Work out your own plan in the calculator above.
Where can I open an OKI?
The act applies from 1 January 2027, so nobody runs an OKI before that date. We collect institutions' announcements that a source confirms in the table above, and will compare fees once price lists appear.
This page describes the rules of the act on personal investment accounts and is not tax advice. Only financial institutions that meet the act's requirements run OKI accounts; Broksy does not.
We compare broker services. This is not investment or tax advice.