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More than 100,000 people left second pillar; 21,000 joined

More than 103,500 people opted out of the second capitalisation pillar of the pension system in the first six months of 2008, while around 21,000 opted in, according to data presented by Labour, Social Affairs and the Family Minister Viera Tomanová on July 9.

More than 103,500 people opted out of the second capitalisation pillar of the pension system in the first six months of 2008, while around 21,000 opted in, according to data presented by Labour, Social Affairs and the Family Minister Viera Tomanová on July 9.

The group who opted out of this saving system was made up mainly of older people, and people with lower incomes, she added. The temporary option to enter or leave the second pillar was introduced by an amendment to the Social Insurance Act in November 2007. The second pillar was opened on January 1, 2008, and closed on June 30.

Despite proposals to prolong this period, Prime Minister Robert Fico and Tomanová confirmed that it was only temporary, and should therefore end on the planned date. 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.

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