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Over 13,000 savers exit pension system's second pillar in 3.5 months; 7,600 joined in

Over 13,000 people have opted out of the pension system's second private, or capitalisation pillar since it was re-opened as of September, according to figures from insurer Sociálna Poisťovňa running to the middle of December. As a result, the pension-savings companies are set to return a total of €41.91 million for 13,156 savers who have unsubscribed from the second pillar. Meanwhile, 7,632 people joined the private pillar, the TASR newswire wrote.

Over 13,000 people have opted out of the pension system's second private, or capitalisation pillar since it was re-opened as of September, according to figures from insurer Sociálna Poisťovňa running to the middle of December. As a result, the pension-savings companies are set to return a total of €41.91 million for 13,156 savers who have unsubscribed from the second pillar. Meanwhile, 7,632 people joined the private pillar, the TASR newswire wrote.

The ministry had expected several tens of thousands of Slovaks to opt out of the pillar. Head of state insurer Sociálna Poisťovňa Peter Višváder has said that, based on previous experience with opening up the pillar, many a saver opts out of the system towards the end of the period prescribed. It's possible to opt in or opt out of the pillar until January 31, 2013. This is the third such window since the second pillar was launched in 2005.

(Source: 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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