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Pension association says Sk40bn committed to 2nd pillar

As of June 30, 2007, more than 1.546 million pension savers were putting their money into the Second (capitalization) Pillar of the pension savings scheme, Ivan Barri, the executive director of the Association of Pension Management Companies (ADSS), said on July 9.

The net value of their investment, which is being administered by pension management companies, is Sk39.959 billion (€1.18 billion). But in recent months, there has been considerable debate about government plans to reduce the ratio of pension savings to be delivered to the Second Pillar, a policy shift that has infuriated ADSS.

As of mid-year, the highest number of savers (463,636) was registered in Allianz-Slovenská Dôchodková Správcovská Spoločnosť, for a 29.98-percent market share. In second was AXA with 416,863 savers (26.96 percent), third was AEGON with 203,210 savers, (13.14 percent), and fourth was DSS VUB Generali, in which 201,252 savers have their pension plans (13.02 percent). Fifth place went to ING DSS with 159,085 savers (10.29 percent), and sixth was ČSOB with 102,183 savers (6.61 percent).

Compiled by Zuzana Vilikovská from press reports
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