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MP suggests amending the old-age pension saving law

Klára Sarkozy, an MP for the opposition Hungarian Coalition Party (SMK), suggested amending the law on the old-age pension scheme on March 13, the SITA wrote.

Klára Sarkozy, an MP for the opposition Hungarian Coalition Party (SMK), suggested amending the law on the old-age pension scheme on March 13, the SITA wrote.

According to the draft revision, every policyholder of a private fund management company, to whom social security provider Sociálna Poisťovňa starts paying old-age pension from the first pillar will be entitled to income from the second pension pillar as well.

In this way, savers would not have to fulfill the recently introduced condition to save for their pensions for at least 15 years in their personal accounts in private fund management companies. If at least two life insurance companies refused to pay life pension to their client because, with the funds saved the person did not qualify for a life pension, the private pension fund management company would have to pay out the funds the saver has accumulated so far. SITA

Compiled by Zuzana Vilikovská from press reports

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