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Mihal: Less Than Ten Percent of Young People Are Entering Second Pillar
Saturday 23 Octtber 2010 Zoom in | Print page
Bratislava, October 23 (TASR) - The interest of young people to enter the second pillar of the pension system is lame, Labour, Social Affairs and the Family Minister Jozef Mihal (Freedom and Solidarity/SaS) has said.
"At the current conditions, when entering the second pillar isn't compulsory for young people, less then ten percent of young people decide to join," he specified.
According to Mihal, there are various reason for such a low proportion of new savers. One reason may be that they have different concerns and they do not care so much about these matters, even though the second pillar is the tool that should resolve their pensions," argued Mihal.
The ministry is currently working on legislative proposal, according to which entering the second pillar would be compulsory for all young people, but they would be able to leave it voluntarily.
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