Pension reform on track, old-age-pension savings law passed

As of January 1, 2005, Slovak citizens will have the option to assign part of their pension insurance payments to their personal accounts in private asset management companies, news wire SITA reported.

The parliament approved the old-age-pension savings law that introduces the pension system capitalization pillar.

The capitalization pillar funds will be the private property of citizens and will be inheritable in the event of the policyholder's death.

Revenues in the capitalization pillar will not be taxed equally, as pensions in the pay-as-you-go system are not taxed.

The capitalization pillar will only be compulsory for those entering the labour market for the first time in 2005. Other citizens will have the opportunity to decide about pension savings and choose a private asset management company from January 2005 to June 2006.

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

Top stories

“My Sunny Maad”, a Czech-French-Slovak animated drama about a Czech woman married to an Afghan who decide to live in post-Taliban Afghanistan, is now screened in Slovak cinemas.

Weekend: German adventurer is walking to Iran, with his stubborn donkey

Jazz music is taking over Bratislava this weekend.


22. okt
Opening of the time capsule of Michael's Tower.

Time capsule stored in Bratislava's St Michael statue 176 years ago reveals its secrets

The public can see the items found in the box in the Bratislava City Museum at the Old Town Hall this weekend.


22. okt
About 100 to 110 Tatra chamois live in the NAPANT national park, central Slovakia, but only two are white.

New Low Tatras attraction fascinates and worries hikers

Two white chamois have been observed in the national park, but their colour exposes them to danger.


21. okt

News digest: Slovakia marks anniversary of one of its biggest accidents in water transport

People are obliged to show Covid passes, the Bratislava's Old Town promotes its most beautiful trees and construction of the traditional ice house in the High Tatras has started.


22. okt
Skryť Close ad