Fico: I'm not in second pillar, and you shouldn’t be either

Slovak PM Robert Fico said following the government session on April 23 that it appeared the global financial crisis was having a great impact on the appreciation of savings in the second pension pillar, the TASR newswire wrote.

Slovak PM Robert Fico said following the government session on April 23 that it appeared the global financial crisis was having a great impact on the appreciation of savings in the second pension pillar, the TASR newswire wrote.

"I'm not in the second pillar, but I would recommend that anybody who is quickly get out," Fico said.

Labour, Social Affairs and the Family Minister Viera Tomanová reported to the cabinet on the influence the crisis is having on global financial markets and on the appreciation of assets in funds of pension savings.

According to Finance Minister Ján Počiatek, the information wasn't sufficiently detailed and that's why his ministry will work out a more in-depth analysis, in co-operation with the Labour Ministry. Počiatek also pointed out that the efficiency of the funds of pension management companies (DSS) had significantly decreased under the influence of global financial crisis, especially in the first quarter of this year.

He added that the ratio of the shares in the funds was at the level of some 20 percent. TASR

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

How a Catholic charity became a voice for migrants in Slovakia

Religious organisations have added leverage in changing perceptions of foreigners and migrants, says Caritas Slovakia.

Caritas Slovakia's ‘World Without “the Other” – Migration Myths’ campaign educates Slovaks on migration in a fun and artistic way.

Secret votes and public lies

There are uncanny echoes today of Slovakia’s agonies over its choice of chief prosecutor ten years ago.

Dobroslav Trnka (left) and Jozef Čentéš (right), the candidate who was eventually selected by MPs in 2011, never got to take up the post because the then president, Ivan Gašparovič refused to appoint him for reasons that were never clearly explained.

News digest: Slovakia to spend three Advent weekends with testing. President wants it to be voluntary

Seven candidates for the general prosecutor post approved. Acting general prosecutor steps down.

Installation of Christmas tree in Trnava

Which are the largest law firms in Slovakia?

For the first time, the ranking also provides an overview in partial categories of law.