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Government working on bill to change fees of pension fund companies

Labour, Social Affairs and the Family Ministry State Secretary and ĽS-HZDS vice-chair Peter Sika told opposition SMK party MP Klára Sarkozy during a debate on public broadcaster Slovak Television’s political show ‘5 Minutes to 12’ on Sunday, March 1, that the governing Coalition was working on a bill to tie fees charged by pension fund companies to the yields that they produce. “If a pension-management company yields a profit for a saver it takes a fee from the yield, but if it damages assets it shouldn't be entitled to any fee,” said Sika, adding that the bill will also introduce other changes to the pension system. Sarkozy said that she didn't oppose cuts in fees, but added that these shouldn't be introduced before being properly discussed. She warned against changes in the pension system, as savers signed up to various programs under certain conditions and could appeal to the Constitutional Court if these are not observed, the TASR wrote.

Labour, Social Affairs and the Family Ministry State Secretary and ĽS-HZDS vice-chair Peter Sika told opposition SMK party MP Klára Sarkozy during a debate on public broadcaster Slovak Television’s political show ‘5 Minutes to 12’ on Sunday, March 1, that the governing Coalition was working on a bill to tie fees charged by pension fund companies to the yields that they produce.

“If a pension-management company yields a profit for a saver it takes a fee from the yield, but if it damages assets it shouldn't be entitled to any fee,” said Sika, adding that the bill will also introduce other changes to the pension system.

Sarkozy said that she didn't oppose cuts in fees, but added that these shouldn't be introduced before being properly discussed. She warned against changes in the pension system, as savers signed up to various programs under certain conditions and could appeal to the Constitutional Court if these are not observed, the TASR wrote.

Sarkozy believes that the Government's measures aimed at halting increases in unemployment are insufficient and are devised to apply only for this year and next. She attributes this to the fact that the next parliamentary elections are due to take place in 2010. 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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