Off the wire
• Pyongyang positive about Kim's Moscow trip: Russian FM  • EU official confident of better Ghana-EU economic ties  • Russia-China partnership important for global, regional security: Lavrov  • China's Wang Jianlin buys 20 pct stake of Spain's Atletico de Madrid  • Foreign-owned shops looted in S. Africa  • U.S. embassy in Libya issues travel warnings over potential attacks  • More poverty reduction efforts needed, says Xi  • Roundup: Nadal battles through toughest duel in Australian Open  • British central bank keeps interest rates on hold  • Russian president to pay Hungary working visit on Feb. 17: media  
You are here: 　 Home

Slovak government to re-open second pillar of pension system

Xinhua, January 21, 2015 Adjust font size:

The Slovak government will re-open the second pillar of the pension system, announced Prime Minister Robert Fico at the press conference after the government session on Wednesday.

According to Fico, almost 1.5 million people who are saving towards retirement in the second or capitalisation pillar of the pension system have no advantages being in it.

"Almost 1 million people who have invested in the second pillar won't have a higher pension than if they arranged it through state pension system. It seems to us that the most convenient solution of how to provide these people with a possibility to freely decide is to open the second pillar," noted Fico. Dating back to Fico's first government (2006-2010), this will be the fourth time the second pillar has been opened.

Labor, Social Affairs and the Family Minister Jan Richter is now going to negotiate the details with other institutions involved - pension-fund management company and Slovak central bank. As Fico stated, the amendment could be adopted by parliament in the fast-tracked proceeding in the upcoming parliamentary session set for Jan. 27, therefore. Endit