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

Lack of qualified labour needs to be addressed

After visiting carmaker PSA in Trnava, PM Fico says that people do not want to work even for more than €1,300.

PSA Groupe Slovakai in Trnava

Febiofest is a chance to see festival winners and foreign guests Photo

Febiofest, in its 24th year, shows mostly Slovak films, of which nine, including the Cristal Bear winner from Berlinale, The Little Harbour, will be premiered here. All the 11 films shown in the Slovak Film Country…

Drive Your Plough Over the Bones of the Dead by Agnieszka Holland

Largest companies that help search for job or employees

Not only well-known names placed in the list of the 10 largest employment agencies in Slovakia.

Amazon will deliver packages for free

Orders have to exceed €39 to be eligible.