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ADSS in talks on reducing pension contributions

The Association of Pension Fund Management Companies (ADSS) is open to
discussing a temporary reduction to the state-run social security provider's contribution to the second pension savings pillar and its later increase, only if the opposition parties agree with it too.

Its president, Peter Socha, confirmed that discussions on measures to be
taken in the second pension savings pillar were launched last week at the top level between representatives of pension fund management companies and government representatives.

In the coming years, the deficit of social security provider Sociálna Poisťovňa could be partially covered by a temporary reduction of its contributions to the second pension savings pillar.

PM Robert Fico admitted that it was possible that discussions with the ADSS could lead to an even more advantageous solution than has been proposed by the Labor Ministry, which for now is the idea he supports. He added that no approved solution will be permitted to threaten the projected government deficit for next year, at 2.3 percent of the gross domestic product.

The Pravda daily reported on September 10 that DSSes were debating the possibility of lowering contributions to the new capitalisation pension pillar with the Finance Ministry and the National Bank of Slovakia, from their current nine percent of the gross monthly wage to six percent for the next three years, after which the contribution would again be nine percent. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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