How to start investing on IKE — step by step

What is IKE?

Individual Retirement Account (IKE) is an investment account with tax relief — if you withdraw funds after turning 60 (or 55 if you have retirement entitlements), you won't pay 19% capital gains tax (so-called Belka tax). It's one of the most effective long-term saving tools in Poland.

IKE contribution limit in 2026

The annual IKE contribution limit is three times the average projected monthly salary. In 2026, this is 26,019 PLN. The unused limit doesn't carry over to the next year — it's worth contributing regularly.

Which broker to choose?

Not every broker offers IKE. Here are the most important selection criteria:

Brokerage houses with IKE

• Bossa (BM BOŚ) — wide selection of ETFs, access to foreign markets, low commissions
• mBank (mDM/eMakler) — convenient integration with bank account, ETFs from GPW and foreign markets
• DM BPS — access to government bonds on IKE
• XTB — 0% commission on stocks and ETFs up to a certain turnover, intuitive platform

What to pay attention to

1. Commissions — the lower, the more stays in your portfolio
2. Available instruments — ETFs, stocks, bonds
3. Access to foreign markets — if you want to buy ETFs listed e.g., on Xetra
4. Platform convenience — mobile app, web interface
5. Maintenance fees — many offices don't charge fees, but worth checking

How to open IKE — step by step

Step 1: Choose a broker

Compare offers in terms of commissions, available instruments and convenience. If you plan to invest in global ETFs, make sure the broker provides access to foreign markets.

Step 2: Submit application online

Most brokers allow opening IKE completely online. You need:

• Personal ID
• PESEL number
• Data for verification transfer

Step 3: Sign IKE management agreement

You can only have one active IKE at a time. If you already have IKE with another broker, you must first make a transfer (so-called transfer withdrawal, which doesn't involve losing the tax relief).

Step 4: Deposit funds

Transfer money to the IKE account. You don't have to deposit the entire limit at once — you can contribute regularly, e.g., monthly.

Step 5: Buy financial instruments

Just transferring to IKE isn't enough — the money must be invested. Popular strategies:

• Global index ETF (e.g., Vanguard FTSE All-World) — simple diversification
• S&P 500 ETF — exposure to largest American companies
• Polish government bonds — safe part of portfolio
• Dividend stocks — for those who like regular income

IKE investing strategy

For beginners

Start with one or two global ETFs. Contribute regularly (e.g., monthly) and don't watch short-term fluctuations. This approach called Dollar Cost Averaging minimizes poor timing risk.

For advanced

You can build a more complex portfolio divided into:

• 70-80% stocks (global ETFs)
• 20-30% bonds (EDO, COI)

Rebalance the portfolio once a year, using new contributions to adjust proportions.

Most common mistakes

1. Contributing without investing — money sits in the account and doesn't work
2. Withdrawal before age 60 — you lose tax relief
3. Lack of regularity — one-time contribution every few years is wasted potential
4. Too frequent strategy changes — IKE investing is a marathon, not a sprint

How much can you save on taxes?

Assume you contribute the maximum limit for 25 years and achieve an average return of 8% annually. Capital gains can amount to several hundred thousand PLN — and 19% tax on this amount is a saving of tens of thousands PLN.

How Freenance can help

Freenance automatically tracks your IKE contributions and shows how the retirement account affects your Financial Freedom Runway. You'll see:

• How much you've contributed this year vs. the limit
• How IKE accelerates your path to FIRE
• IKE value forecast at retirement

👉 Start planning retirement with Freenance — freenance.io