Government rejects amendment to second pillar pension scheme

The interim government on Wednesday rejected draft legislation which would have allowed clients to withdraw from the recently-established “second pillar” of pension reforms (that is savings in private pension funds) at a later date if they so wished. The prime minister made clear for the government that such changes were anti-systemic. The draft amendment was proposed by former finance minister Miroslav Kalousek, who spearheaded the second pillar under the previous government. A final decision on the matter will be up to the Chamber of Deputies. Far fewer clients signed up for the second pillar before a key deadline earlier this year than previously expected; it is thought that the raising of restrictions could make the package more attractive to potential clients.