PS: People's Savings in Second Pension Pillar at Risk Again

Bratislava, 4 August (TASR) - The money that Slovaks save in the second (capitalisation) pension pillar is at risk again, the opposition Progressive Slovakia (PS) party told a news conference based on information available to it on Monday, adding that contributions to the second pillar will most likely be cut further from 4 percent to 2 percent, or the second pillar will be opened again. "If this information is confirmed, we'll experience the re-opening of the second pillar and thus an outflow of savers [from it] and a reduction in contributions [to it], probably to the lowest-ever and clearly unconstitutional 2 percent," stated MP Simona Petrik (PS). She noted that 2 million savers are currently in the second pillar, and savings amounting to some €17 billion are at stake. MP Stefan Kiss (PS) said that if these measures are taken, Progressive Slovakia will turn to the Constitutional Court, adding that savings in the second pillar are protected, in addition to other means, by the Slovak Constitution. Petrik also compared the current level of average old-age pensions in Slovakia with those in neighbouring countries. The average old-age pension in the Czech Republic amounted to €845 per month in 2024, while in Poland it was even €913. The average old-age pension in Slovakia for this year is planned at €667, which is €200 lower on average when compared to the country's closest neighbours, noted the opposition MP. "I would therefore like to call on Labour Minister Erik Tomas (Voice-SD) to present his plan for dignified and sustainable pensions," said Petrik. ko/df