Poland: Employee Capital Plans (ECP) Act enters into force for the biggest employers
Starting from 1 July 2019, the Act of 4 October 2018 on Employee Capital Plans (ECP) sets a deadline for the employer to conclude a contract on managing the ECP with a financial institution, as no later than 10 working days before the 10th day of the month, following the expiration of 3 months from the date of the ECP Act being applied to the employer. This means that entities employing at least 250 people should conclude a contract on managing the ECP by 25 October 2019.
Accordingly, there is still time (i.e. the period between 1 July 2019 and 25 October 2019) to choose the financial institution with which the contract on managing the ECP will be concluded, in agreement with the trade union organisation or the employees’ representatives, on behalf of and for the benefit of the employees.
If, as of one month before the date on which the employer is obliged to conclude a contract on managing the ECP, the agreement with the trade union or the employees’ representatives has not been reached, the choice of the financial institution should be made by the employer.
