Association: Pension funds saw profits rise by 6 percent year-on-year
Pension funds in the Czech Republic saw profits rise by 6 percent year-on-year to 4.83 billion crowns in 2012, the Association of Pension Funds has told the Czech news agency. Pension funds registered a record number of 5.15 million clients, over half a million more than at the end of 2011. Savings made up by clients’ deposits, employers’ contributions, state subsidies and appreciation reached 247.7 billion crowns, which was an annual rise of 6 percent. In Q4 of last year alone, the number of private pension scheme clients increased by more than 474,000. The rise of interest in these kinds of savings was connected with a statutory period that restricted the possibility of signing such contracts until the end of November, APF president Karel Svoboda said.