More than 47,600 people have signed a petition protesting against planned changes in the supplementary pension saving scheme (the so-called third pillar of the pension system), the TASR newswire reported on Thursday, October 7, citing the petition committee of the Association of Supplementary Pension-Fund Management Companies (ADDS).
The petition committee started collecting signatures on Monday, October 4, and hopes to obtain 100,000 by the end of the month and then submit them to parliament, with a request to MPs not to pass the amendment. According to the proposal, contributions by employees and employers to supplementary pension-fund management companies would henceforth be taxable. "With such an amendment, which practically cancels any motivation to participate in the third pillar, Slovakia would become a black sheep in the developed world, where governments support all forms of voluntary pension saving by all means," stressed ADDS chairman Milos Krššák.
According to Finance Minister Ivan Mikloš, scrapping the current levy exemption given to supplementary pension savers will remove an unjustified privilege that results in a deformation of the market (as not every employee has the chance to build up their pension savings with money that is not taxed at source). ADDS argues that if the third pillar is to be a normal part of commercial pension saving, all regulation duties should be removed from the legislation.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
8. Oct 2010 at 10:00