BUSINESS SHORTS

Tomanová: No changes to pension system

LABOUR, Social Affairs and the Family Minister Viera Tomanová said on June 12 that the results of a legal analysis carried out by the ministry do not recommend lowering payments into the pension system's second pillar from nine percent to six percent.

At the moment, pension savers can either pay 18 percent of their wages to the public social insurance company or only nine percent to the public company (the first pillar) and the other nine to a private pension company (the second pillar).

The report, which focuses on the pension reform that was carried out three years ago and the impact it has had on the public insurer Sociálna Poisťovňa, has been completed and a summary of the 1,000-page document will be published by the ministry next week.

According to Tomanová, the aim of the report "was to assess the possibility of changing pension system payments." The analysis, however, does not propose changing the rates - as has been advocated by many representatives of the current government.

The legal analysis will be used in the process of preparation of other changes within the social security system that will be made by the Labour, Social Affairs and the Family Ministry at a later date.

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