IN SHORT

Disability pension recipients out of second pillar

STARTING next year, the government will no longer pay contributions to the second pension pillar for recipients of a disability pension.

People who receive disability pensions will only be able to use the state-run, first pension pillar, said Oľga Škorecová, spokeswoman for the Ministry of Labour, Social Affairs and the Family.

If a citizen becomes disabled after 20 years of saving in the second, or capitalisation, pension pillar, his or her saved money will stay with the pension fund management company, the SITA newswire reported. Because such people have met the terms of the minimum saving period, they will receive a pension from the capitalisation pillar upon retirement. The amount of this pension will correspond to their 20 years of saving.

Under a proposed amendment drafted by the chair of the Parliamentary Committee for Social Affairs and Housing, Jozef Halecký (HZDS), the state would only continue paying contributions to the second pension pillar for people on maternity or paternity leave and those who provide care for people with special needs. The committee approved the proposal last week.

Starting next year, entry into the second pillar will become voluntary for people born after December 31, 1986. Young people will have the opportunity to decide, within six months of starting their first job, whether to enter the second pension pillar or remain in the state-run, pay-as-you-go system. The revision to the Law on Social Insurance, submitted by the Labour Ministry, only allows for voluntary entry to the second pension pillar only in the first half of 2008. Entry for young people is to remain mandatory.

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