Spectator on facebook

Spectator on facebook

ADSS: Extension of pension-saving period unfair

The Association of Pension Savings Companies (ADSS) on October 17 slammed a proposal to extend the mandatory saving period for pensions from ten to 15 years as unfair to savers who as a result would be unable to receive a pension from the private second pillar of the system.

The extension of the compulsory-saving period is set to be introduced by a government-approved amendment to the Social Insurance Act, which is due to be voted on in Parliament. The measure is designed to head off the danger that savers won't necessarily be able to save enough money for an adequate pension.

According to ADSS's calculations, however, even savers entering the new pension scheme at the age of 50 or 52 would be able to save enough for their pension. According to the Association, the 10-year compulsory-saving period, proposed as a measure that obliquely determines an age limit for effective participation in the second pillar, is losing its worth. TASR

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

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Northern Slovakia faces risk of floods from intense rain

Meteorologists are issuing a second-degree flood warning due to the continuous rain.

Illustrativre stock photo

Kio li estas? Liptov welcomed Esperanto enthusiasts Photo

Biggest Esperanto summer school takes place in Liptovský Mikuláš.

Slovakia has extradited Yandiev to Russia

Despite the UN decision, the country sent Ingushetia citizen Aslan Yandiev to Russia where he is wanted for alleged terrorism crimes. It cites the stance of the ECHR.

Illustrative stock photo

More reasons to stay

Excluding people doesn’t just affect those who choose to leave.