The Open Pension Funds (OPFs) have been operating on the Polish market as part of the second pillar of the pension reform since 1999. The Pension Fund is supposed to collect and invest contributions paid by OPF members for their future pension. Part of the contribution raised by the Polish Social Insurance Institution (i.e. 7.3% of gross pay) is transferred to the members personal account in OPF.

Assets collected in a fund member's account come from ongoing contributions and return on investments achieved by the Public Pension Funds companies (PPFC), which are responsible for the management of the OPFs. The assets on OPF accounts will contribute as additional pension in the future. Unlike the funds collected by the Polish Social Insurance Institution (as part of the mandatory first pillar pension scheme), these deposits can be inherited. As required by applicable laws, the PPFCs regularly publish the investment performance of their OPFs. The membership in an open-ended pension fund is mandatory for individuals who were born after 31 December 1968.

The operations of all the pension funds are monitored by the Polish Financial Supervision Authority. There are regulations in place which guarantee the safety of capital entrusted to pension funds.