Spectator on facebook

Spectator on facebook

BY LENKA POLKOVÁ

Enough is enough

Scarcely a week goes by that we don't hear another telling of the latest fairy tale, that people saving in the second pillar of the pension system will have their deposits eaten by the big bad wolf - the management of their pension savings funds.

Scarcely a week goes by that we don't hear another telling of the latest fairy tale, that people saving in the second pillar of the pension system will have their deposits eaten by the big bad wolf - the management of their pension savings funds. Whoever is generating these tales has clearly forgotten that the 1.6 million people saving in the second pillar are not little children, and that they know very well that scary tales of collapse and a loss of deposits are just fantasy. Pension funds in Slovakia belong to international banks and pension companies, and will not just crash from one day to the next.

People, like PM Fico, who compare pension savings companies to pyramid schemes also clearly have never heard of gradual asset appreciation, capital adequacy, portfolio diversification or asset management. The public knows that for the doomsday scenarios put forward by critics of the second pillar to come true, we would have to see a collapse of financial markets all around the world, not just in Slovakia. If this happened, not even the first pension pillar would survive.

The pension statements of government politicians are like a bad film whose director and producer count on the stupidity of the audience for the film to be successful.


Hospodárske Noviny, February 13

Top stories

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness

Foreign rocket engines for North Korea: Why?

For Russia, the path to a weakened China could be through a major nuclear accident in North Korea.