Already over PLN 110 million on Individual Retirement Accounts (IKE) in Bank Millennium

An Individual Retirement Account can be opened in Bank Millennium in two ways: as a savings account bearing 5% per year or as a long-term scheme based on Millennium TFI mutual funds.
The total amount of funds deposited by Customers on IKE in Bank Millennium has exceeded PLN 110 million (including PLN 80 million in bank account form and PLN 32 million on IKE with Millennium TFI funds). In the first eight weeks of 2011 over 3 thousand Individual Retirement Accounts were opened. By comparison, in the same period of last year some 500 new accounts were opened. Since the beginning of 2011 funds accumulated on IKE accounts grew by PLN 10 million.
In recent months we have been noting strong interest of Customers in IKE with Millennium mutual funds, as a long-term savings product. Customers see the need to have additional pension security and at the same time they appreciate the advantages of the programme offered by Millennium TFI, taking note of good investment performance of our funds in recent periods - says Mirosław Kuźmiński, Member of the Management Board of Millennium TFI.
   
For someone who has many years to go before retiring, a better option is IKE with mutual funds. Such an account offers the possibility to buy fund participation units without a fee. One or several funds may be chosen, with different risk and yield levels - says Marek Ubysz, Head of the Savings Products Sub-unit in Bank Millennium. On the other hand a bank savings account IKE is specially recommended to people who expect a guaranteed return or will soon reach retirement age - Marek Ubysz adds.
An Individual Retirement Account in the form of a savings account has 100% protection of principal. The generated interest is free from capital gains tax.