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IN SHORT BUSINESS

Pension reform on track

JANUARY 1, 2005 will mark the start of the pension reform in Slovakia, when citizens will be able to assign part of their pension insurance payments to their personal accounts in private asset management companies, the SITA news wire reported on December 16.

The news comes after the parliament's passage of the pension savings law, which introduces the pension system's capitalization pillar. 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.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak