About the product

IRA with investment funds is a very attractive form of investment for your future pension. As a rule funds are entrusted savings for years and as the history shows they yield significant profits. Consistent long-term investment in funds allows to fully benefit from the best times of capital market and minimise the effects of periodic fluctuations.

Save with the IKE - individual pension accounts...


Thanks to regular deposits you will accumulate savings while your reinvested profits will additionally increase the value of the funds on your account.


Long-term saving allows to benefit from the times of highest yields and minimise the effects of periodic fluctuations.


You should choose IKE variant corresponding to your financial capacities and personality, consider your age and stage of life.


Why should you join IRA?

  • Important source of your future pension

It is a common knowledge that the future pension from the mandatory pillars of the reformed pension system (ZUS and OFE) will not ensure satisfactory living standards after completion of our professional activity.

  • Offer addressed to all the earners

This offer is for both young and older earners. It is also an exceptional for commercial entities.

  • Special tax benefits

Profits from IRA savings are exempt from capital gains tax - such benefits are not offered by any other form of individual savings!

  • Deposits without fees and commissions

Investments in Millennium IRA are exempt from subscription fees -100% of deposit is invested.

  • All your family benefits from the IRA savings

IRA holder may appoint persons who will receive the accumulated subfunds in event of death of an investor. The subfunds accumulated on IRA are also exempt from the inheritance tax.

IRA with Millennium investment funds:

  • No fees- Investments in Millennium IRA are exempt from handling charges
  • Professional management - the core business of investment subfunds is to increase the value of the subfunds entrusted.
  • Higher yields - investing in Millennium funds gives in an opportunity of higher-than-average profits in a long-term perspective.
  • Choice - you choose for yourself one or a number of subfunds (Dynamic, Equity , Economic Trend, Stable Growth, Debt Instruments, Classic Bond). Category A participation units are available in IRA.
  • Flexibility - you may change the structure of your savings in the subfunds.
  • Accessibility - the subfunds provide information on assets value per participation units on a daily basis.
  • Security - the Legislators ensured maximum protection of your interest; operations of IRA with investment fund are subject to strict control by the Polish Securities and Exchanges Commission.

The detailed description of the rules of running IKE contains the agreement and Bylaws and the Act of 20 April 2004 on individual retirement accounts as well as individual retirement security accounts.
Detailed information about Millennium funds, including description of risk factors and rules of participation are contained in information prospectus accessible in Millennium branches, on www.millenniumtfi.pl


Financial transactions involve risk presented in “Description of Risk Involved with Financial Instruments and Products for Private Persons in Bank Millennium S.A.", available in branches and on the Bank’s website www.bankmillennium.pl.

What is an investment fund?

Investment Fund – is an entity with legal personality operating under the Act of 27 May 2004 on investment funds and management of alternative investment funds. An investment fund’s sole operation consists in investing monies collected publicly or privately in securities, money market instruments, and other property rights stipulated in the Act.

In exchange for money deposited in the fund, the investors receive participation units. Their amount reflects the proportional share of a participant in the investment fund’s assets. With a pre-defined frequency the investment funds determines the value of participation units i.e. calculates fund assets net value per participation unit. For this purpose the fund valuates the investment portfolio and then divides the amount by the number of participation units due to all participants. The value of a participation unit may change during each valuation day.

The following risks are involved with an investment in investment funds:

  • Sector risk,
  • Credit risk,
  • Short-term price volatility risk,
  • FX risk,
  • Risk of not admitting issuer's securities to regulated market trading,
  • Liquidity risk,
  • Tax risk,
  • Legal risk,
  • Settlement risk,
  • Market risk,
  • Interest rate risk,
  • Risk of loss of capital,
  • Asset or market concentration risk,
  • Level of charges and fees,
  • Product complexity.

Prior to making an investment the information about funds should be read, including financial data and description of risk factors, which are contained in Prospectuses and in Key Information for Investors (KII), available together with the Funds’ fees table in Bank Millennium branches, in the offices of Millennium TFI SA as well as online at www.millenniumtfi.pl.

Information about BFG protection

Money invested in Millennium TFI Fund Participation units are not protected by the Banking Guarantee Fund, in keeping with the Act of 10 June 2016 on Banking Guarantee Fund, system of protection of deposits and compulsory restructuring.

Other important information

Any and all information contained in this COMMERCIAL PUBLICATION is purely of information nature and constitutes neither an offering in the meaning of the Act of 23 April 1964 Civil Code, nor an invitation addressed to anyone (or any group of people) to conclude transactions on financial instruments presented in it. In particular the information is not a service of investment, financial, tax, legal or any other advice. Any investment decision should be taken on the basis of information contained in prospectuses and Key Information for Investors (KII), and not the abbreviated description contained herein.

Investing in funds involves the risk of loss as well as the obligation to pay handling fees and income tax. The fund does not guarantee attainment of the investment target or a specific investment result. The net value of assets of the funds is highly volatile due to the composition of the investment portfolio. Securities constituting more than 35% of assets of Millennium Funds (except Millennium SFIO) may be issued, guaranteed or underwritten by the State Treasury, NBP, US Government, European Central Bank or European Investment Bank.

Prior to making this investment one should carefully read information about the funds, including financial data and description of risk factors, which are contained in the prospectuses and Key Information for Investors (KII), available together with the funds’ schedule of fees in branches of Bank Millennium, in the offices of Millennium TFI SA and on the website www.millenniumtfi.pl

Dissemination, distribution and trading of some financial products may be subject to restrictions with respect to certain persons and countries, in keeping with relevant legislation. Offering and trading of financial instruments may be done only in compliance with relevant legal regulations.

Investing in mutual funds involves risk of loss as well as the obligation to pay fees and tax. The Fund does not guarantee  the investment objective or specific investment result. The value of net assets of Millennium Funds is or may be characterised by high volatility due to the composition of investment portfolios. The issuer, the guarantor or the guarantor of securities representing more than 35% of the assets of Millennium Funds (excluding the Millennium SFIO) may be the Treasury, National Bank of Poland, the U.S. government, the European Central Bank or the European Investment Bank. The full description of Millennium Funds, including a description of risk factors is contained in prospectuses and Key Investor Information Documents of individual Funds are available in branches of Bank Millennium S.A., in the seat of Millennium TFI S.A and on the website http://www.millenniumtfi.pl.

Amounts invested in the product are not covered by the guarantee system BFG.


  • What is Individual Retirement Account?

    Individual Retirement Accounts (IKE) belong to the third pension pillar. IKE are meant for people who want to save themselves for their future pension and to additionally benefit from capital gains tax relief (19% tax popularly known as “Belka’s tax”). Saving on IKE you can also identify beneficiaries i.e. persons, who will receive the money in the event of your death. The money thus conveyed is also free from inheritance and donations tax.

  • Does opening IKE with Millennium TFI funds, keeping it and depositing money on it involve any fees?

    Opening, as well as keeping and depositing money on IKE with Millennium TFI funds is free of charge and all the money you deposit will be invested in 100% with a view to your future pension.

  • How much money can I deposit on IKE during the year?

    Deposits on IKE with Millennium TFI funds are restricted according to regulations. The sum of annual deposits in 2023 cannot exceed the amount of 20 805 PLN, according to the announcement of the Minister of Family and Social Policy of 13 October 2022.

  • How many IKE can I have at the same time?

    You can have only one IKE. Moreover only one person can accumulate savings on one IKE. This means that you cannot have one IKE together with another person, e.g. spouse or child.

  • Can I withdraw money from IKE at any time?

    Yes, you always have access to the accumulated money. Remember however that any withdrawal before meeting conditions of the period of gathering savings and required age will involve loss of the tax relief and the need to pay capital gains tax. This means that the generated earnings, upon their withdrawal will be subject to 19% tax, just as other capital gains.

  • Do I have to regularly deposit a specific amount?

    No, opening an Individual Retirement Account does not mean a commitment to make monthly deposits. It is worth remembering however, that investing even small amounts regularly is an opportunity to accumulate a significant amount in the future.

  • Is the accumulated money inheritable?

    Yes. Money accumulated on IKE is treated as personal savings and in the event of the IKE owner it is conveyed to persons (beneficiaries) identified by him. In the IKE maintenance agreement the owner can identify one or more persons to whom the money accumulated on IKE will be paid in the event of his death. These instructions can be changed during functioning of IKE. If the owner fails to identify in the agreement the persons inheriting the money, the savings shall be included in the inheritance, which is subject to division in keeping with legal regulations.

  • Can I open IKE and accumulate savings on it if I am retired?

    Yes, however provided that so far you have not benefited from tax relief consisting in withdrawal of funds from IKE in relation to becoming eligible.

  • How can I get the tax benefit?

    The tax relief will be available only to persons who withdraw their accumulated savings only after the age of 60. Persons who become eligible for retirement before the age of 60, will be able to make the withdrawal if they turned 55. Moreover in order to become eligible for relief from capital gains tax, you must make:

    • deposits on IKE at least in any 5 calendar years, or
    • more than half of the value of deposits on IKE at least 5 years before the day of filing for withdrawal.

  • What is the minimum deposit?

    You can set up IKE with Millennium TFI funds starting with as little as PLN 500, and every subsequent payment to one subfund may not be lower than PLN 100. You decide how much you want to pay.

  • What subfunds should I choose and can I change them at any time?

    You have a choice of 6 subfunds available under the Millennium FIO umbrella fund, which differ from each other in terms of potential yield and risk (Classic Bonds, Debt Instruments, Stable Growth, Economic Cycle, Shares, Dynamic Companies). You can change your decision at any time and select other funds to your IKE free of charge. You decide which solutions and in what proportions will best correspond to your expectations.

Legal disclaimers

Any information contained in this publication is for information only and does not constitute an offer, recommendation or any invitation sent to anyone (or any group of people) to conclude a transaction on financial instruments presented in it. In particular, information contained in this publication does not constitute an offer within the meaning of the Civil Code Act dated 23 April 1964 and is not a service of investment, financial, tax, legal or any other advice.

The terms contained in this publication are for orientation. Any prices and/or specimen transactions are for illustration purposes only and do not constitute an offer of concluding a transaction on such terms or the indication that a transaction on these terms is feasible. Moreover, no calculations or results presented in this publication guarantee future profits. The actual terms of a transaction on financial instruments will be based on market terms established at the moment of its conclusion. Any available price quotations or analyses contained in this publication have been prepared on the basis of assumptions and parameters reflecting the assessment or choice made by the Bank. The Bank shall provide no guarantee of precision, completeness or reasonableness of such quotations or analyses. 
The recipient of the information in this publication shall exclusively bear the risk of its using in particular with respect to investment decisions on its basis.

Financial transactions are connected with risk detailed in the „Description of the Risk Connected with Financial Instruments or Products at Bank Millennium S.A.", available from the Bank's outlets and website www.bankmillennium.pl. Anyone who purchases a financial instrument shall accept and bear liability under tax obligations resulting from binding regulations. In view of the above risks and circumstances the Bank's clients should have sufficient knowledge and experience to assess the nature of each financial transaction entertained by them and them associated risk. If in any doubt, clients should use the services of a tax, legal or investment advisor. The Bank shall communicate any additional information which will be validly asked for by the Client to enable him the assessment of the risks and nature of the transaction.

The Client's conclusion of a transaction on financial instruments constitutes grounds for recognition that the Client has familiarised himself with the terms of the transaction and associated risks and accepted them

The dissemination and distribution of certain financial instruments and trading in them may be subject to certain limitations with respect to certain persons and states, in accordance with appropriate legislation. It is up to the client to demonstrate the legal capacity or rights to invest in a given financial instrument. Financial instruments can be offered and traded exclusively in compliance with the appropriate provisions of law.
The information in this publication shall be made available exclusively to its Recipient. The Recipient must not copy, reproduce nor communicate or make it available to third parties in any other way, in full or in part (except to his professional advisors) without the Bank's prior written consent.

Funds invested in the product are not covered by the deposit insurance scheme of the Bank Guarantee Fund.  

How to constitute

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