Pension fund companies oppose reopening second pillar

The Association of Pension Fund Management Companies (ADSS) rejects the planned reopening of the second pillar of the pension saving scheme for the second time.

The Association of Pension Fund Management Companies (ADSS) rejects the planned reopening of the second pillar of the pension saving scheme for the second time.

The Cabinet recently passed a draft amendment that, if approved by parliament, opens the second pillar again on November 15 and closes it at the end of next June. The association insists that the system needs stability. They say its opening is non-systemic, and thus they do not agree with the measure, ADSS Chairman Peter Socha said. He thinks that the public has had enough time to decide in which pillar they want to remain. The pension saving system was open to enable free entry and departure of its participants for the first six months of this year.

Fico recently revisited the idea of a state-run guaranteed fund in the second pension pillar. Socha said that he had not reviewed any specific proposal regarding the creation of a fourth super-conservative fund. 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.

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