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Mihal Planning Changes to Law on Second Pension Pillar
Wednesday 21 July 2010 Zoom in | Print page
Bratislava, July 21 (TASR) - Labour, Social Affairs and the Family Minister Jozef Mihal (Freedom and Solidarity/SaS) said on Wednesday that his ministry is working on an amendment to the law on the private second pension pillar in order to reverse "all the pointless changes instituted by Robert Fico's [former] government."
At the same time, Mihal conceded that achieving the above will depend partly on SaS's coalition partners vis-a-vis adjusting individual provisions of the law so that it can take effect as planned as of January 1.
"We intend to drop [the pointless changes] from the law and set the system up in a way that will make it sensible. First, it is important that the three types of pension funds be made distinct in terms of investing, bench-marking, fees policy, and guarantees for savers," Mihal told reporters after government discussions that laid out the philosophy behind the planned changes.
"I would very much like to accomplish this so that savers will be able to diversify their investments in pension funds. Nowadays they are, for example, either in the first, second or third type of fund. I don't see any reason why savers can't diversify their risks between three types of fund," he said.
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