Over 78,000 savers leave second pension pillar

A total of 78,588 people had taken the opportunity to leave the second, privately managed pillar of the national pension saving scheme and join the first, state-run pay-as-you-go pillar by 15:00 on Thursday, according to the state-owned social insurer, Sociálna Poisťovňa (SP), which manages the first pillar.

A total of 78,588 people had taken the opportunity to leave the second, privately managed pillar of the national pension saving scheme and join the first, state-run pay-as-you-go pillar by 15:00 on Thursday, according to the state-owned social insurer, Sociálna Poisťovňa (SP), which manages the first pillar.

According to SP, the number of people leaving leapt by more than 15,000 people in just one day, between Wednesday, January 30, and Thursday, January 31. Based on the number of savers leaving, SP will demand that the private pension-fund management companies transfer around €245 million to it. The number of people entering the second pension pillar stood at 11,048 as of Thursday, which was the last day on which savers could switch between pillars. This is the third such opportunity to switch offered by either the previous (2006-10) or current Robert Fico-led governments, the TASR newswire wrote.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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