Fico announces plans to re-open second pillar of pension system

The government at its session on October 1 will approve a bill amending the law on old-age pension savings that will once again open the private second pillar, allowing anyone who wishes to either leave or join it.

The government at its session on October 1 will approve a bill amending the law on old-age pension savings that will once again open the private second pillar, allowing anyone who wishes to either leave or join it.

Prime Minister Robert Fico declared on September 25 that the Slovak economy is in peril from the ongoing global financial crisis, while the yields of individual pension funds are deeply in the red.

The plan is to fast-track the amendment in parliament so that it can take effect before January 1, 2009.

"We'll open the second pillar in all likelihood for six months, but we aren't contemplating any of the measures spoken about in the media such as changing the ratio of social contributions - i.e. 9 percent of salaries going into savings accounts and 9 percent into the national pension account," Fico said. 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.

Top stories

PM Eduard Heger

Coalition finds a compromise. Non-vaccinated will not pay for tests for work, school or shops

Hundreds of people protested against the amendment that the parliament advanced to the second reading.


3 h
Dancers perform in the streets of Trenčín, spotlighting the architecture of the city.

Slovakia will open a new institute, this time in Jerusalem

Culture, sports and travel stories rounded up in one place.


23. júl
The Office of the Public Defender of Rights flies the rainbow flag to mark the Bratislava Pride in 2021.

The pandemic has made it clear that we must stand together

International friends and partners of Slovakia celebrate Bratislava Pride.


16 h

Bratislava Pride will take place online

It will be streamed on July 24 and accompanied by numerous music performances.


22. júl