Spectator on facebook

Spectator on facebook

Private pensions firms react to union calls

Peter Socha, the head of the Association Pension Fund Management Companies (ADSS), said ADSS members are surprised by a statement on Tuesday, February 24, by the Trade Unions Confederation (KOZ), asking for a decrease in levies to the second – or capitalisation - pillar of the pension system from the current 9 percent to 4 percent.

Peter Socha, the head of the Association Pension Fund Management Companies (ADSS), said ADSS members are surprised by a statement on Tuesday, February 24, by the Trade Unions Confederation (KOZ), asking for a decrease in levies to the second – or capitalisation - pillar of the pension system from the current 9 percent to 4 percent.

Speaking to the TASR newswire on February 24 in Bratislava, Socha said: “The current global economic crisis cannot be [used as] a reason for such interventions [in the second pillar], which would reduce savers’ rights. ADSS considers a decrease in the levies – leading to a reduction in people’s savings in the second pillar system – as being such an intervention.”

According to ADSS, the deduction proposal doesn’t have any economic justification and pension fund managers cannot agree to it. Socha said the two-pillar system with the current settings, is more profitable for the state finances than a single-pillar (i.e. wholly state-run) system would be. He said this was also confirmed by an analysis carried out for the Ministry of Labour, Social Affairs and the Family.

On the other hand, ADSS said it is willing to negotiate with the Government on opportunities for investment in important infrastructure projects, providing such investment is secure and profitable for savers. “We are ready to look for such solutions to help Slovakia carry out infrastructure-support projects during these times of crisis,” Socha concluded. 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

Keep your passport at hand on your trip to Austria

There are no internal border controls on the Austrian-Slovak border. Yet, the Austrian police check cars and buses heading to Slovakia.

Slovak police checking cars at the border crossing in Berg, Austria.

Bratislava ice stadium will require €2 million

At the same time, its tenant, ice hockey club Slovan, owes some €1 million in rent.

The Ondrej Nepela ice-hockey stadium during 2011 ice hockey world championship.

Who do Slovaks marry the most among foreigners?

Mixed marriages are still quite rare among Slovaks compared to elsewhere in the EU. Slovak women are more likely to marry foreigners than Slovak men. Here is why.

Italy points to “illegal state aid” as Embraco announces relocation to Slovakia

The decision to shift production follows in the footsteps of US conglomerate Honeywell, which reportedly also plans to close its Italian plant and move to Slovakia.

Embraco plant in Spišská Nová Ves