Pension funds falling

WHEN Martin Beňo, a citizen of Trnava got his report from the second pillar fund where he has been saving money for six years he was a bit surprised.

(Source: Sme)

“I have money in an action fund; I expect some risk,” Beňo told the Sme daily. “Nevertheless, I was surprised that I lost €530 within two weeks.”

Savers in the second pillar could be again considering transferring their money to guaranteed funds. In the past few weeks equity and index funds posted a steep fall and they lost hundreds of euros in their accounts. Almost all funds are currently in the red, Sme wrote.

Experts, however, recommend that they weigh the possible transfer to guaranteed funds. They would not only lose what they earned but also a portion of the money they compulsorily deposited in the fund. On the other hand, it is advantageous to enter equity funds when these are falling.

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