Matovic: Fico Will Take Away People's Pension Money to Avoid Consolidation

Bratilsava, May 21 (TASR) - Prime Minister Robert Fico (Smer-SD) will take people's saved money from the second pension pillar to avoid having to consolidate, said opposition MPs Igor Matovic and Julius Jakab (both from Slovakia-For the People-KU alliance) at a press conference on Wednesday. If the second pillar is reopened, people would be allowed to choose whether to stay in it or move to the first pillar and transfer all their savings. These funds would be transferred into the state budget under state-insurer Socialna poistovna, giving Fico access to Slovaks' retirement savings. The 'Slovakia' party pointed out that 2015 was the last time the second pillar was opened. At that time, 1.5 million people were saving for retirement. When it was opened, 158,000 savers, or 10.5 percent, left the system, withdrawing a total of €540 million. Matovic noted that ten years ago, Slovaks withdrew a total of 8.3 percent of deposits and transferred them to the state budget, specifically to Socialna poistovna. If 10.5 percent of people were to leave the second pillar again in 2026, that would mean a loss of 210,000 savers and €1.4 billion in savings. According to Matovic, Fico needs to consolidate €1.7 billion next year and plans to obtain that money from the second pillar, in which people are saving for their future pensions. He explained that in 2024 the government adopted a permanent consolidation measure worth €1.5 billion, intended to last until 2027. Another consolidation package was adopted last year, totalling €2.7 billion, also intended to remain in place throughout the government's term. Matovic has calculated that Fico, along with Finance Minister Ladislav Kamenicky (Smer-SD), plans to consolidate €1.7 billion in 2026, but only needs to implement sustainable measures worth €300 million, such as a gambling tax or higher property tax. The remaining €1.4 billion will come from the second pillar. In 2027, according to Matovic, the government will manage to consolidate only a few hundred million euros, even though it has promised the European Commission that it will save up to €3.1 billion. Matovic claims that Fico won't have the courage to consolidate that amount and will instead inform his coalition partners that he's calling for an early election. Jakab added that opening the second pillar is a crisis plan aimed at transferring citizens' savings into the state budget. "The second pillar is going to be opened, billions of euros will flee from it. It's a diabolical plan by Robert Fico to drain the second pillar in a one-off move so he won't have to consolidate, and then he'll call an early election so that someone else will have to bear the burden — because Robert Fico is incapable of saving," he stated. mf/df