‘Young people do not believe in retirement pensions, but they do believe in crypto assets’ – this was the title of the panel attended by Jacek Jastrzębski, Chair of the KNF, during ‘Campus – the Future of Poland 2026’ social festival. He spoke about approach to savings and investments, placing a particular focus on long-term thinking and emphasising a responsible, informed, and long-term approach to personal finance.

The Chair of the KNF pointed to the important role of pension products. He has emphasised that due to his function, his own investment choices in financial markets are limited, but he is enrolled in pension schemes such as employee capital plans (PPK). He has also pointed out that high level of participation in the PPK scheme among the employees of the UKNF may be seen as a sign of the scheme’s attractiveness and credibility. He has explained how the PPK works, emphasising the programme’s voluntary nature combined with auto-enrolment, and pointed to the substantial benefit of additional payments made by the employer. This is a real bonus, which increases the profitability of long-term saving through the PPK. 

In his contribution, he focused on making a distinction between short-term and long-term investments, emphasising the strength and advantages of the long-term approach. 

The long-term approach is not only an economic strategy but also a psychological one, preventing investors from impulsive decisions provoked by short-lived market fluctuations. 

The Chair has indicated that regularly saving even small sums of money produces significant effects in the long term. He has also emphasised that the pension system based on the Social Insurance Institution (ZUS) is important, but this should not be the only source of security for the future. It is necessary to accumulate capital independently through various financial market instruments, which is exactly the main idea behind long-term investing.

Jacek Jastrzębski also pointed to the role of risk as an inherent part of investing. No risk would mean no profit, which is why it is of key importance not to avoid risk but to be aware of it and manage it accordingly, mainly by properly shaping the structure of our portfolio. A long-term investment horizon is also a natural risk mitigation mechanism, which allows the share of more risky assets to be increased.

The Chair of the KNF has emphasised that one should only invest in what one understands. He has added that it is a good idea to start with simple instruments, such as bonds or ETFs, and diversify the portfolio right from the outset. Even though investments are available to everyone, not every instrument is appropriate for every person – it is of key importance to adjust one’s strategy to individual capabilities, investment horizon (including age), and individual objectives.