The government of Robert Fico plans to open the second pension pillar for the fourth time to allow savers to leave. According to Fico, almost 1 million people who are saving towards retirement in the second or capitalisation pillar of the pension system have no advantages being in it."To us the most appropriate solution seems to be to give these people a choice on a voluntary basis, that is, to open the second pillar," stated the Prime Minister, adding that this would prevent the pension system from degenerating. Currently, according to Fico, with the amount of offered first pensions, concrete evidence turns up that the second pillar suffered a huge fiasco. Dating back to Fico's first government (2006-10), this will be the fourth time the second pillar has been opened. The Cabinet has instructed the Minister of Labour, Social Affairs and Family Ján Richter to immediately start negotiations with the involved partners, which is the pension-fund management company (DSS) and Slovak central bank (NBS). The amendment could be adopted by Parliament in the fast-tracked proceeding in the upcoming parliamentary session set for Tuesday, 27th January confirmed PM Fico, however without releasing any more details about the opening of the second pension pillar.
Slovakia won't do without the second pension-saving pillar in the future, claim MPs of the opposition. Speaking at a joint press conference, Ľudovít Kaník an MP for the SDKU-DS, who pushed for the introduction of the private second pillar when serving as Labour Minister between 2002-05, rejected the statements of Prime Minister Fico that the second pillar was a monstrous fraud. According to Daniel Lipšic from the Nova party, the second pillar isn't an invention of reformers, but a demographic necessity. "Our message to Robert Fico is that he shouldn't be playing with the future of people younger than 50 years of age," Lipšic emphasised. The Sieť (Network) party is suggesting that the second and the third - voluntary or supplementary - pillar of the pension system be merged in order to make saving for one's pension cheaper.
