EC requests that Slovakia remove investment restrictions on pension funds

The European Commission (EC) has asked Slovakia to remove investment restrictions on statutory pension funds that were established in the second pension pillar as part of pension reform.

The European Commission (EC) has asked Slovakia to remove investment restrictions on statutory pension funds that were established in the second pension pillar as part of pension reform.

The EC consider the limitations an infringement of a treaty governing the free movement of capital. If the EC does not receive a satisfactory reply within two months, it may refer the matter to the European Court of Justice.

Slovak law prohibits pension fund management companies (DSS) from investing more than 30 percent of their assets in other EU states, or more than 20 percent in securities issued or guaranteed by other EU states. Such restrictions would not apply to Slovakia, the EC reported on its website.

The Commission rejected Slovak authorities’ justification that the law protects society’s interest in the development of the Slovak capital market. SITA

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

Top stories

Police get ready for protests in Bratislava

They recommend drivers and people not attending the gatherings to avoid the places where demonstrations will take place.


20 h
The old-age pension scheme will change, again.

Parental bonus proposed as first change to pension system, coalition partners at odds

Labour Ministry has unveiled the first part of its proposed pension scheme reform. Long-awaited tax system reform still out of sight.


19 h
Tourists raft on the Orava river in the village of Oravský Podzámok, which is home to Orava Castle.

A land of Gorals, Hviezdoslav and great ice cream: Orava

This region in northern Slovakia is a place of active pursuits as well.


4. aug
The In the Footsteps of Hidden Children memorial march.

I followed the Jewish boy who walked through the war in a police officer's old shoes

What does it feel like to walk 130 kilometres in the footsteps of hiding children?


20 h