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Cabinet approves pension draft

The cabinet approved the draft amendment to the law on social insurance at its session on August 22.

The version of the draft that was approved made almost no changes to the previous version, the Sme daily reported on August 23.

The government compromised on the issue of the base for calculating insurance premiums. The cap on the calculation base for social insurance contributions will be increased from three times the average wage to four times the average.

As well, the state will no longer send contributions for pension savings for mothers on maternity leave and parents taking care of disabled children to their accounts in the second pillar.

The second pillar will be opened for six months. Those who don't wish to save any more for their accounts in private pension fund management companies can withdraw from the private accounts during this period.

-SITA

Compiled by Zuzana Vilikovská from press reports
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