The Finance Ministry is calling on pension fund management companies to ensure
guaranteed returns for savers in the second (capitalisation) pension pillar.
Finance Minister Ján Počiatek said at a news conference that pension companies currently guarantee no returns, "not even the fact that savers will save at least a principal."
The Smer party says this was insufficiently communicated during the advertising campaign when the second pillar was launched.
"If the system does not guarantee a yield, even one where savers accumulate at least what they deposited in the system, then this system cannot be compulsory and the only solution is to change it to a voluntary system," Počiatek said.
The ministry also wants pension fund managers’ parent companies to guarantee they will step in if the fund managers are in an unfavourable financial situation.
-SITA
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
