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Labour Ministry web site contradicts pension system reform

The Labour, Social Affairs and Family Ministry displays a statement on one of its web pages (dochodok.gov.sk) that declares the second capitalization pillar of the pension system to be secure, effective and fair, it was reported on September 19.

It seems the statement first appeared on the web site before the current Government was formed in July 2006, and has escaped notice, as these claims are at odds with recent statements made by Prime Minister Robert Fico and Labour Minister Viera Tomanová, who have warned several times that savings deposited with private pension-fund management companies (DSSs) are under threat, and that returns are not guaranteed at all.

The Labour Ministry’s web site was launched on January 1, 2004, under former minister Ľudovít Kaník, who introduced the reforms that included the formation of the second pillar. TASR

Compiled by Zuzana Vilikovská from press reports
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