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Fewer than 12,400 have left second pillar

From the beginning of this year to March 14, fewer than 12,400 of the 1.5 million pension savers enrolled in the second capitalisation pillar have left it, the SITA newswire wrote.

From the beginning of this year to March 14, fewer than 12,400 of the 1.5 million pension savers enrolled in the second capitalisation pillar have left it, the SITA newswire wrote.

Jaroslav Belluš, who heads the information section of the social security provider Sociálna Poisťovňa (SP), said that 3,500 of those savers have left the pillar since the beginning of March, when the provider dropped the requirement that the application to leave the pillar had to be notarised.

The Ministry of Labour expects that around 31,000 people will decide to leave the capitalisation pillar, which was conceived of under the previous government’s reforms, and remain just in the first pillar, pay-as-you-go system, operated by SP. Pension savers have until June 30 to decide.

SP expects to receive a total of Sk393.4 million from pension fund management companies, which have already sent Sk290.5 million. The average calculation base of savers leaving the second pillar is around Sk14,000.

In the same period, over 4,800 people have enrolled in the second pillar, with an average calculation base of Sk18,700.

Belluš said that most of the savers who had left the second pillar were above 40 years old. In contrast, it was mostly people under 40 who newly enrolled in it. SITA

Compiled by Zuzana Vilikovská from press reports

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